Need for a True Wealth Tax to Support Those Most in Need Due to the Coronavirus   [open pdf - 0B]

From the Executive Summary: "It is time for a wealth tax. The medical and economic hardships produced by the coronavirus pandemic are falling most heavily on people who were already most disadvantaged. [...] A wealth tax to fund the relief effort gives meaning to shared sacrifice in the face of a universal threat. An extraordinary catastrophe, which afflicts the entire nation, should be paid for not out of income-flows that fund ordinary public policy in normal times, but rather by a one-time charge against the nation's accumulated stock of wealth. In other words, a wealth tax. This one-time wealth tax--of 5 percent levied on the richest 5 percent of American families--is good politics. It generates deep and wide support as shown by recent polling conducted by Data for Progress."