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Warren says her tax plan asks just 'two cents' of the super-rich. But how much of a hit would Gates, Walton and their peers actually take?; Some economists say the Massachusetts senator's wealth tax proposal could erase great fortunes.

Sep 12, 2019 - Washington Post Blogs

AUSTIN - It's Elizabeth Warren's catchy code for how little she's asking of the rich: The Massachusetts senator said "two cents" no fewer than 16 times Tuesday night in pitching her wealth tax to a crowd of cheering Texans.

Warren's message was that the superwealthy, those worth more than $50 million, would pay just pennies on the dollar - a 2 percent annual tax on assets - to fund the vast array of social programs she's proposing, from universal child care to free college tuition. At he...