Elizabeth Warren bought a full-page ad in a GOP billionaire's newspaper so she could taunt him about the $2.3 billion he'd pay under year one of her wealth tax
of the advertisement, which printed Adelson's estimated net worth of $39.6 billion. It estimated that the casino owner would end up paying $2.3 billion in the wealth tax's first year, coming out to less than 6% of his wealth.
The newspaper ad said that the wealth tax would be used to invest in childcare, student debt reduction, and additional funds for public school students in Nevada. Warren's signature proposal is a wealth tax on everything the richest Americans own. Her plan would kick in at $50 million with households paying a 2% annual tax on their assets like stocks, paintings, yachts, and homes. It would ramp up to 6% for households with fortunes over $1 billion.shrink the fortunes of billionaires.
The Massachussetts senator had previously ripped into Adelson, a key Republican fundraiser in the 2016 election. She called him outon a Japanese casino deal that the White House lobbied for and said it was emblematic of corruption. The 86-year-old billionaire is a close ally of the Trump administration, and he's expected to donate $100 million toward efforts to support the president's re-election as well as other GOP candidates,
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