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Elizabeth Warren to propose ‘wealth tax’


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Sen. Elizabeth Warren, D-Mass., is planning to propose a “wealth tax” on some of the richest Americans, an economist who advises her told CNBC on Thursday.

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.

The Washington Post first reported the development.

“We helped her with the numbers,” economist Emmanuel Saez told CNBC. He said he believed the proposal would be officially announced Friday.

He said his understanding was that the Warren team had already spoken with the Post at the time he told them the details of the report.

“The announcement will be made tomorrow I think, and I was confused because when I talked to the person I thought that Warren’s team had already talked to the press,” he said. “I shouldn’t be talking, you know.”

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