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Democrats, there are easier ways than wealth tax to reduce financial inequality in the US – why are they being ignored?

The evident unfairness of the present system is worth restructuring – but there are a string of things that could be done without pushing voters to support radical, untested proposals

Hamish McRae
Monday 18 November 2019 00:04 GMT
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Elizabeth Warren singles out billionaires who oppose wealth tax in new campaign ad

Washington DC – American billionaires are worried about tax.

It is still a year to the next US presidential election and we have no idea who the Democratic candidate will be, but it is already clear that the Democrats’ central pitch will be to call for higher taxes.

Two leading contenders, senators Elizabeth Warren and Bernie Sanders, have both proposed a wealth tax, while, according to a Bloomberg report, the charismatic House representative Alexandria Ocasio-Cortez is planning to introduce a bill that would increase the top income tax rate to 59 per cent.

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