Barron’s has published a piece which covers a survey of wealthy Americans. The survey sought to find out how the wealthiest Americans felt about Senator Elizabeth Warren’s plan for a wealthy tax of 2-3% on those with over $50m or over $1 bn in wealth. The results were surprisingly, with 60% of wealthy respondents saying they would embrace the plan. The feedback was split on party lines, with 88% of Democrats agreeing, 62% of independents, and 36% of Republicans in favor of it.
FINSUM: We are somewhat skeptical of these stats. Advisors, please email us with any anecdotes on how your clients have reacted to this plan.