Richest in U.S. Have a Few Tricks to Avoid Democrats' Tax Plans

Massachusetts Senator Elizabeth Warren, who’s exploring a run for president, is proposing a wealth tax, a 2 percent annual levy on fortunes of more than $50 million and a 3 percent tax on the assets of billionaires. Others, including Representative Alexandria Ocasio-Cortez from New York, have suggested hiking income tax rates. “There’s an element, yeah, where people are going to have to start paying their fair share,” Ocasio-Cortez told Anderson Cooper on “60 Minutes” on Jan. 6.

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