3 billionaires donated $2,800 each to Elizabeth Warren’s campaign—if she gets elected and is able to pass her proposed wealth tax, they would owe a collective $430 million a year, making it one of the worst financial investments of all time
Still, the billionaires may not mind. “Very lucky guy here ,” Saccaabout himself in January, when Warren first announced her plan to create a wealth tax. “Weighing in to say that [Warren’s] proposal to put a 2-3% annual tax on wealth over $50 million is extremely and radically… reasonable.”
“Details will be everything,” he added. “Not everyone who is rich is liquid and able to pay cash. Asset valuation is hard. Ownership can be murky. There will be workarounds. And so on. But, the idea of a very modest tax on accumulating assets, is interesting.” Rales and Newmark did not respond to requests for comment.
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