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Affect schultz. warren would levy a 2% wealth tax on americans with assets over $50 million and a 3% wealth tax on assets above $1 billion. "washington post" reporter jeff stein calculated what this would mean for schultz and here's the math. he's currently worth about 3.4 billion. so according to forbes, the first $950 million of his assets would be taxed at 2%, bring can go government coffers about $19 million. the remaining $2.4 billion of his assets would be taxed at 3%, bringing in another $72 million. so schultz would pay $91 million alone if wealth taxes were in place with warren's plan...

Potential and current presidential candidates grows, presidenti policies like the wealth tax are taking center stage. is this a sign of things to come in 2020? joining me tiffany cross, jamal simmons, host of hill tv and jason johnson, resident skeptic. back with me he's our skeptical face. we'll go to tiffany first, my optimistic friend. let's talk about elizabeth warren interesting she's trying to get back in the conversation after being out when it was about the wall and other issues that aren't her core thing. she's come back in with the wealth tax idea. a 2% tax on households with assets ...

They would realize there are lives at stake. senator elizabeth warren is planning to unveil a new plan that would tax american households that have more than $50 million in assets. those who have more than $1 billion in assets by 3%. warren's tax is estimated to raise $2.75 trillion often years from about 75,000 families that make up less than 0.1% of u.s. households wording to economists working with the massachusetts senator. last night warren defended her new tax plan. watch. >> it's actually not that complicated and hard because unlike some other places that try to bill this, this one wo...

$2.75 trillion over a ten-year period. while we go through sort of the nitty-gritty details of this draft plan. i think it's important to talk about the political the significance of this. this is everything to do with the concentration of wealth in this country. that has been a key message that we have heard from senator elizabeth warren for a very long time. we expect this to be at the very core of her progressive platform as she eventually we expect her to formally announce her presidential campaign, so in a lot of ways it is not surprising that this would be the first policy -- major polic...

Naturally through demand, but i'll tell you why else they will rise, in my opinion. the real problem in terms of wages in our country are twofold. demographics. we are getting older. productivity hasn't gone up. but number two, our business people for whatever reason have not been investing in things that will make workers more productive. so wages haven't gone up. i think this bill will insent that. >> one thing you had said to me, you gave me a great quote, you said you would rather drink weed killer than support automatic tax increases. but that's still in there. 2025 is nothing is done the...