Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Nathan Klima for The Boston Globe via Getty Images

Sen. Elizabeth Warren (D-Mass.) opened her 2020 campaign with a wealth tax policy proposal that was inspired by University of California-Berkeley economists Emmanuel Saez and Gabriel Zucman. The plan would tax the wealthiest Americans on their assets.

Key details
  • Annual 2% tax on assets above a taxpayer's first $50 million, and 3% on assets that exceed $1 billion.
  • The wealth tax would raise an estimated $2.75 trillion over 10 years from 75,000 families.
  • Warren is branding it as the "Ultra-Millionaire Tax."
  • To fight tax evasion, the policy would bolster the IRS budget, install a minimum audit rate for the very rich and add a 40% "exit tax" on the very rich who try to give up U.S. citizenship.
  • Warren has also proposed a universal child care program that would use revenues from the wealth tax to provide public and family-run centers to guarantee care from birth until schooling age.
Arguments in favor of Elizabeth Warren's wealth tax
  • Addresses glaring wealth inequality.
  • Gets to the heart of people's wealth: Assets instead of income.
  • Added source of government revenue for child care proposal and other programs.
  • Combats tax evasion.
Arguments opposed to Elizabeth Warren's wealth tax

Go deeper: Everything you need to know about Elizabeth Warren

Go deeper

Texas AG sues Biden administration over deportation freeze

Texas Attorney General Ken Paxton speaks to members of the media in 2016. Photo: Alex Wong/Getty Images

Texas Attorney General Ken Paxton is suing the Biden administration in federal district court over its 100-day freeze on deporting unauthorized immigrants, and he's asking for a temporary restraining order.

Between the lines: The freeze went into effect Friday, temporarily halting most immigration enforcement in the U.S. In the lawsuit, Paxton claims the move "violates the U.S. Constitution, federal immigration and administrative law, and a contractual agreement between Texas" and the Department of Homeland Security.

Dan Primack, author of Pro Rata
3 hours ago - Podcasts

Carbon Health's CEO on unsticking the vaccine bottleneck

President Biden has said that getting Americans vaccinated for COVID-19 is his administration’s top priority given an initial rollout plagued by organizational, logistical and technical glitches.

Axios Re:Cap digs into the bottlenecks and how to unclog them with Carbon Health chief executive Eren Bali, whose company recently began helping to manage vaccinations in Los Angeles.