Elizabeth Warren says her “Ultra-Millionaire Tax” will raise $2.75 trillion. History says otherwise.
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Elizabeth Warren wants the federal government to provide free healthcare for every American, college for every student who wants it, childcare for every parent, and housing for low-income families.
And she wants to pay for it all with a new tax on the richest of the rich. She calls it the "Ultra-Millionaire Tax."
Skimming a bit more off the top of the bank accounts of the ultra-wealthy might sound like a good deal for working- and middle-class Americans who feel like they're falling behind, but the reality is that wealth taxes have been tried before. And they haven't worked the way Warren promises.
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Produced by John Osterhoudt. Based on an article by Peter Suderman. Additional graphics by Josh Swain.
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