Sen. Warren Defends Wealth Tax: I Am Not Trying ‘to Confiscate Everything’

EXCERPT:

WARREN: “The other part of this is, did he sell stock in order to buy his $300 million yacht? I don’t know. I don’t know the answer here. But I do know that the billionaires — we’ve seen it, the billionaires are not paying based on their wealth. They have figured out lots of schemes, how to take advantage of our tax code so that they are — Jeff Bezos pays taxes at the same rate as a Boston public school teacher. And that makes no sense at all. We need a tax system that truly accounts for the fact that there are people —”
SORKIN: “Right.”
WARREN: “— who have amassed huge wealth — and I’m not — I’m not looking at trying to confiscate everything they’ve got. A two cent wealth tax, two cents every year on what they’ve got.”