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FILE PHOTO: Democratic 2020 U.S. presidential candidate Sen. Elizabeth Warren speaks at a Democratic Party fundraising dinner, the Liberty and Justice Celebration, in Des Moines, Iowa, U.S. November 1, 2019. REUTERS/Eric Thayer/File Photo
http://brain.sg/article/exclusive-economist-who-backed-warren-healthcare-plan-has-doubts-about-her-wealth-tax-328730
Brain - Exclusive: Economist who backed Warren healthcare plan has doubts about her wealth tax
Key Highlights

Mark Zandi also voiced skepticism that the wealth tax provision in Warren's plan - a key funding mechanism - will produce predicted levels of revenue because those targeted by the tax will seek to dodge it

Zandi believes Warren may still be able to make up the difference through other taxes in her plan

A key part of Warren's revenue calculations to pay for her healthcare overhaul comes from a new tax on the wealthiest 1 % of U.S. individuals, or a " wealth tax "

Warren initially proposed a tax that would impose a 2 % federal tax on every dollar of a person's net worth over $ 50 million and an additional 1 % tax on every dollar in net worth

Zandi, and the other economists who signed the letter, estimated the tax would generate an extra $ 3 trillion in revenue between 2020 and 2029, part of $ 20.5 trillion they say can be generated overall through additional taxes, but without raising middle-class taxes

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Reuters