Democratic Congressman Wants ‘Patriot Tax’ For Wealthy Americans

A Congressman from New York is proposing a “Patriot Tax” for wealthy Americans.

Rep. Thomas Suozzi (D-NY) explained during an interview with The Hill that his “Patriot Tax” would force Americans to pay a one-time, 2.5% tax on wealth between $50 million and $100 million. Meanwhile, those with wealth above $100 million would pay 5%. The proposal would allow taxpayers to make payments over the course of five years.