The U.S. Needs a Federal Wealth Tax

A federal wealth tax on the richest 0.1 percent of Americans is a viable approach for Congress to raise revenue and address rising inequality. This report outlines reasons why the United States needs a federal wealth tax to achieve these goals, as opposed to federal tax policies that continue to almost exclusively tax income. Additionally, this report also identifies and refutes the two most common arguments against a federal wealth tax: claims that wealth is too difficult to measure precisely, and claims that a federal wealth tax would be unconstitutional.