LETTER: US should adopt National Wealth Tax


DEAR EDITOR: I would like to see the US Congress pass a new program into law which would replace the former “Aid To Families With Dependent Children” program which was passed under FDR in 1935 and abolished in 1996. 

Ever since its abolition, there has been a large increase in the number of people (especially children) living in “extreme poverty” (meaning living on less than two dollars per day) and “deep poverty” (meaning at a level half of the official poverty line). 

It could be paid for by adopting a “National Wealth Tax” of 14.25% on all individuals with a net-worth of $10 million and higher which is exactly what Donald Trump proposed in 1999 before he became what I have always believed to be a “FAKE-Conservative.”

In return for receiving this assistance, all recipients would be responsible for doing some type of volunteer-work and/or job-training.

— Stewart B. Epstein, via [email protected]