BREAKING: Sen. Elizabeth Warren is introducing a wealth tax that will force billionaires to pay 3% if they stay or 40% if they try to flee the country

In a move already igniting fierce debate across Washington and Wall Street, Elizabeth Warren has unveiled a sweeping proposal aimed at taxing the ultra-wealthy, introducing what she calls a “fair share” wealth tax.

According to early details, the plan would impose an annual 3% tax on billionaires’ net worth while they remain U.S. residents. However, the most controversial element is a proposed 40% exit tax targeting those who attempt to renounce citizenship or move assets abroad to avoid the levy.

Warren framed the proposal as a direct response to growing wealth inequality, arguing that “no one builds that level of fortune alone” and that the nation’s richest individuals must contribute more to the systems that enabled their success. Her office estimates the plan could generate hundreds of billions in revenue over the next decade.

Supporters say the measure could fund major social programs, including education, healthcare, and infrastructure. Critics, however, warn it could trigger capital flight, legal challenges, and unintended economic consequences, with some business leaders calling the exit tax “punitive.”

The proposal is expected to face an uphill battle in Congress, where divisions over taxation and economic policy remain sharp. Still, Warren’s announcement has already shifted the conversation, placing wealth inequality back at the center of the national spotlight.

As reactions pour in from lawmakers, economists, and global markets, one thing is clear: this proposal is set to spark a high-stakes showdown over how America taxes its richest citizens.