With two-thirds of the country in favor of a $15 minimum wage, why can’t Congress listen to what its citizens clamor for?
Seattle, the first major city to have a $15 minimum wage in place, was supposed to experience the destruction of the very fabric of free enterprise. We are no longer the only city, or state, that has successfully made this adjustment.
Now U.S. Sen. Elizabeth Warren has introduced a bill to tax the rich, and one of its co-sponsors in the House is Washington state U.S. Rep. Pramila Jayapal [“Warren revives wealth tax, citing pandemic inequalities,” March 1, Nation]. It’s a proposal that polls show has the support of more than 3 in 5 Americans, including a majority of Republican voters. The bill would apply a 2% tax to individual net worth above $50 million and would add an additional 1% surcharge for net worth above $1 billion. One estimate by University of California, Berkeley, economists says it would raise $3 trillion over a decade. That could benefit the poor, middle class, infrastructure and more.
How much wealth is enough?
Jim Thompson, Seattle