Democrats Unveil An Ultramillionaire Tax On The Top 0.05% Of American Households

In an effort to combat wealth inequality, Democrats on Monday unveiled a bill that would impose new taxes on American households with net worths over $50 million.

Sen. Elizabeth Warren of Massachusetts, who has long been a proponent of a wealth tax, introduced the Ultra-Millionaire Tax Act with Rep. Pramila Jayapal of Washington and Rep. Brendan Boyle of Pennsylvania.

A press release said the proposed tax would apply to…READ MORE