EXCERPT:
WARREN: "I say you think I didn’t see that one coming? So the way that this is written is to say, first of all, we are going to tax all your assets wherever located around the globe. So if you were planning to move them to Switzerland or some island, doesn’t make any difference. They are all going to be taxed. The second part of it is we’re going to build right into the administration of this tax that it has a very high rate of monitoring, of auditing. The rich people on the ultramillionaire tax. So we’re going to be out there counting them and watching them. And the third part of it is, once you identify these assets, it’s actually not that complicated and hard because unlike some other places that tried to build this, this one isn’t going to have a bunch of exceptions. This one says all your assets, wherever located, and we’re going to keep counting. And you’re go having to to pay if you have more than $50 million in assets. This is the ultrarich. You’re going to have to pay 2 percent a year of that amount over $50 million. And here’s the deal about the money, though. I want to underline this part. It’s to use that money to build opportunity. For the rest of America.”