'What we have now is a significant group of people who just aren't earning enough for a variety of reasons,' says the Blackstone CEO.
"There have only been 12 countries that have tried that, and of those 12 that tried it, only four are still trying it," he said of a wealth tax, referring to Spain, Switzerland, Norway and Belgium.
Warren's plan calls for a 2% tax on families' net worth of more than $50 million, which she has turned into a rallying cry for the rich to pitch in 2 cents for every dollar above that threshold."You make it to the top, the top one-tenth of 1%, then pitch in 2 cents so every other kid in America has a chance to make it," Warren said at the fourth Democratic debate.
The wealth tax proposed by Sanders, a self-described democratic socialist, would be progressive, starting at 1% for household net worth of more than $32 million and ending at 8% on wealth over $10 billion.Warren is currently polling at No. 3, with 18.5% support, according to
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