Penn Wharton Predicts Revenue Raises From Wealth Tax Proposal

Penn Wharton Budget Model

The wealth tax proposal by Sen. Elizabeth Warren, D-Mass., would raise $2.3 trillion including macroeconomic effects, or $2.7 trillion without macroeconomic effects, over 10 years and reduce GDP in 2050 by 1 percent to 2 percent depending on investment, the Penn Wharton Budget Model said in a December 12 report.

<p>The wealth tax proposal by Sen. Elizabeth Warren, D-Mass., would raise $2.3 trillion including macroeconomic effects, or $2.7 trillion without macroeconomic effects, over 10 years and reduce GDP in 2050 by 1 percent to 2 percent depending on investment, the Penn Wharton Budget Model said in a December 12 report.</p>