Adopt a tax of 2% on wealth over $50 million, and 3% over $1 billion
A proposal would impose a new wealth tax of 2% on wealth over $50 million and 3% on wealth over $1 billion, generating an estimated $200 billion in new annual revenue.
Arguments For & Against
Pro Argument
A wealth tax punishes the successful, who already contribute more in total taxes than everyone else. It will discourage investment and job creation, and drive entrepreneurs out of America. Instead of taking more from those who succeed, we should focus on smarter spending and policies that benefit everyone without stifling people’s ambition.
Con Argument
What is your recommendation? Effect on Revenue 1 Do not charge an extra tax on wealth over $50 million -0- 2 Charge an extra tax of 2% on wealth over $50 million, and an extra tax of 3% on wealth over $1 billion +$200 B
Source document: FedBudget2025Quaire.pdf
| Type | Organization | Date | Nat | Rep | Dem | Gap | Metric |
|---|---|---|---|---|---|---|---|
| New PPC Survey (2026) | Program for Public Consultation | February 2026 | 80% | 72% | 88% | 16% | favor |
| Deliberative Survey | Program for Public Consultation | June 2025 | 78% | 72% | 83% | 11% | other |
Program for Public Consultation — February 2026
Now let's look at a proposal for a new tax on people with very high net worth – the top one tenth of one percent of the population. A proposal has been put forward to have a tax on wealth (this includes assets such as stocks, bonds and property) over a certain amount. The first $50 million of wealth would not be taxed. Wealth above $50 million would be taxed at 2%. Wealth over $1 billion would be taxed at 3%. Do you favor: Having this new proposed tax on wealth (increases revenue $200B).
Program for Public Consultation — June 2025
Impose an extra annual tax of 2% on wealth over $50 million, and 3% on wealth over $1 billion. This proposal would reduce the deficit by $200 billion a year. What is your recommendation?