Read and Summarize (Wealth Tax)

Read and Summarize (Wealth Tax) Name: Institution: This article addresses Senator Elizabeth Warren’s plan for a wealth tax on the super-rich individuals. These types of taxes have already been implemented in the developed nations but the countries which are members of the Organizational for Economic Cooperation and Development with a wealth tax dropped to four in 2017 from twelve in 1990. The Democrats contesting for the presidency have always found new ways of collecting taxes from the rich and distributing the wealth to the poor as a method of reducing inequalities. Other countries are also re-examining the usefulness of the wealth tax. In Switzerland, wealth taxes are essential because they account for almost one percent of the Gross Domestic Product (GDP) every year. Switzerland is presumably the best precedent for a reasonably efficient wealth tax. Warren aims at using the tax to raise about $2.7...