Warren: Millionaires Have to Pay a 'Fair Share,' Taxpayers Helped Create Their Success

Sunday on CBS’s “Face the Nation,” Sen. Elizabeth Warren (D-MA) said she had proposed a wealth tax because American taxpayers helped pay for “ultra-millionaires’” success. Warren said, “You know, look, they can say whatever they think is going to help them along. But the reality is it is not capitalism to have one giant that comes in and dominates, a monopolist that dominates a market. What I have supported all the way through are the kinds of things that help level the playing field. So, for example, I think we should have an ultra-millionaires’ wealth tax because right now the top one-tenth of 1 percent will pay, this year all in on all their taxes, about 3.4 percent of their net wealth in taxes. The 99.9 percent will pay about 7.4 percent of all their wealth.” She added, “So I think a level playing field says that the big guys have to pay kind of like everybody else does and they have to pay to help create some opportunities because after all, those great fortunes in America that people built, worked hard, had great ideas are inherited. Those great fortunes were built here in America with workers that all of

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