Elizabeth Warren reportedly wants to enact a 'wealth tax'

Elizabeth Warren.
(Image credit: Scott Eisen/Getty Images)

Sen. Elizabeth Warren (D-Mass.) is set to propose a new tax on the wealthiest Americans as she plots her 2020 campaign.

Emmanuel Saez, an economist who has advised Warren on the plan, told The Washington Post the senator will propose an annual "wealth tax" of 2 percent on Americans with more than $50 million in assets and 3 percent on Americans with more than $1 billion in assets. He said the proposal, which would affect approximately 75,000 families, would bring in $2.75 trillion over the next decade.

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Brendan Morrow

Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.