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Recently, Sen. Elizabeth Warren, D-Mass., stirred debate by proposing a “wealth tax” on some of the richest Americans. According to media reports, the new tax from Warren, who recently announced her bid to challenge President Donald Trump in 2020, would only apply to Americans with more than $50 million in assets.
Some media analysts believe that this is a good but complex proposal and still need some refining and elaboration. Furthermore, they believe that this wealth Tax will reduce the wealth disparity. Whereas, others believe that there are already plenty of additional taxes imposed on the wealthy 1% of the population. They believe that if implemented, this tax will demotivate people to move above a certain income bracket.
This scenario instigated a debate across social media regarding whether imposing ‘wealth tax’ on Americans with more than $50 million in assets, is a good idea?