A new wealth tax of 2 to 6% was just introduced in Congress. And it doesn’t just apply to billionaires

U.S. Senator Elizabeth Warren, along with over 45 lawmakers, introduced a new tax bill called "Ultra-Millionaire Tax Act"

This tax bill would create a wealth tax to fortunes above $50 million.

— The Money Cruncher, CPA (@money_cruncher) March 28, 2026

This tax would apply on the value of all property of the taxpayer (stocks, houses, etc) minus debt.

Interestly, property transferred after enactment of the bill to a family member (under 18) is treated as the taxpayer’s property

So you can't just transfer assets to your kids

— The Money Cruncher, CPA (@money_cruncher) March 28, 2026

The worst part is for founders with illiquid stock.

There are plenty of multi-millionaires who own companies worth a lot of money, but they don't have the cash to pay for this tax.

And this is not even the worst part…

— The Money Cruncher, CPA (@money_cruncher) March 28, 2026

Overall, I doubt this bill will get through.

But there could be a time that something similar may be introduced in the future & passed.

What do you think of this?

— The Money Cruncher, CPA (@money_cruncher) March 28, 2026