By Staff Reporters
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According to the Institute of Taxation and Economic Policy (ITEP), more than one in four dollars of wealth in the U.S. is held by a small fraction of households with a net worth of over $30 million.
ITEP suggested a nationwide tax of 2% on wealth over $30 million could have raised nearly $415 billion if it were in effect, and a similar tax applying only to wealth in excess of $1 billion could have raised $62 billion. This would only affect 1 in 400 households — or 0.25% of the population
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Funding Basics, Investing, Taxation | Tagged: Institute of Taxation and Economic Policy, ITEP, OxFam, Taxation, wealth gap | Leave a comment »