Net worth tax

With the removal of the Estate Tax in the United States in 2010, some governmental analysts, including Randall L. Smith,CPA, are proposing an annual one percent Net Worth Tax for people with a net worth over 100 milion dollars.

During the Tax Cut Era which began under President Ronald Reagan in 1981, the net worth of wealthy individuals in many instances have doubled or tripled, even when adjusted for inflation.

The last quarter century of the twentieth century could be termed as the Robber Baron Era similar the last quarter of the nineteenth century. This gap between the wealthy and the poor in the United States increased to the greatest level since the 1890's.