2020 Hopeful Elizabeth Warren Proposes 'Wealth Tax' to Chip Away Money From the Rich Mike Vance January 28, 2019 News 2020 hopeful Elizabeth Warren is doing her best to appeal to her base on the far left by doing what they want: taxing the crap out of the rich. There's nothing the left loves more than taxes on top of taxes and she has found an innovative way to do just that. The self-proclaimed Indian is looking to put a "wealth tax" on the net worth of rich folks. Seriously. That's what she is looking to do. Per CNBC: Sen. Elizabeth Warren, D-Mass., has proposed a “wealth tax” on some of the richest Americans. 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. Her Twitter announcement on Thursday came hours after an economist who advises her told CNBC he believed the proposal would soon be made official. The Post reported that Warren has been advised by Saez and Gabriel Zucman, left-leaning economists affiliated with the University of California, Berkeley, on a deal that would levy a 2 percent wealth tax on Americans with $50 million-plus in assets. For Americans with assets above $1 billion, that tax rate would increase to 3 percent. She called out an NFL owner for buying a $100 million "superyacht." This billionaire NFL owner just paid $100M for a "superyacht" with its own iMax theater. I'm pretty sure he can pay my new #UltraMillionaireTax to help the millions of yacht-less Americans struggling with student loan debt. https://t.co/Gk4ifAkxdT — Elizabeth Warren (@ewarren) January 26, 2019 People work hard to get into the position of extreme wealth. A lot of times, their families have worked hard for generations to build this wealth, but Warren thinks they should just hand this money over. Keep in mind, this money in their bank account has already been taxed once. That doesn't matter, they think you should be taxed twice. If you tax these wealthy people more and more, eventually they won't be rich anymore and will no longer be able to make these types of purchases. At that point, what is the point of being rich? She wants to take away the American Dream.