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Warren Wealth Tax May Fall $1 Trillion Short, Estimate Finds (1)

Dec. 12, 2019, 2:02 PM

Senator Elizabeth Warren is overestimating the proceeds of her wealth tax by at least $1 trillion, according to a new study, raising questions about the Democratic presidential candidate’s plans to fund her sweeping proposals to reshape the U.S. economy.

Warren’s tax would raise $2.3 trillion to $2.7 trillion over a decade, far short of the $3.75 trillion her campaign has said the levy on the accumulated wealth of millionaires and billionaires would raise in that period, according to new estimates from the Penn Wharton Budget Model.

The estimate calls into question the Massachusetts senator’s frequent assertion that taxes on the ...

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