A wealth tax as modest as some Democrats are proposing would affect precious few Americans, but still generate trillions of dollars of revenue from people who have largely been increasing their fortunes throughout the pandemic.
The coronavirus pandemic has greatly increased wealth inequality in the United States, a key issue in the upcoming presidential election. Polls are currently looking good for the Democrats, many of whom have been murmuring about—or even demanding—a new wealth tax. Recent surveys show the idea is overwhelmingly popular with the electorate, with voters in 11 polled states more than three times as likely to support than oppose a candidate backing a tax on the assets of the wealthy.
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