Warren Backs More Audits for Rich as Part of Wealth Tax Plan
- Democrat predicts support for tax on wealth will gain support
- Massachusetts senator also warns against undersized stimulus
This article is for subscribers only.
Senator Elizabeth Warren said IRS funding should be bolstered so the richest Americans get audited about once every three years as part of her proposed 2% annual tax on wealth in excess of $50 million.
The Massachusetts Democrat said she wants to nearly double the Internal Revenue Service budget, which would also help with enforcement of a wealth tax. She said she plans to talk to Treasury Secretary Janet Yellen about how to implement such a tax.