Elizabeth Warren’s ‘Ultra Wealth Tax’ hit an unexpected snag this week, with a nonpartisan study projecting the proposal would generate 30% less tax funds than her campaign claims.

“A nonpartisan academic study concludes that Democratic presidential candidate Sen. Elizabeth Warren’s proposed “wealth tax” on the richest Americans would bring in at least $1 trillion less than the populist lawmaker from Massachusetts estimates,” reports Fox News.

“A University of Pennsylvania Penn Wharton Budget Model – which offers nonpartisan analysis of public policy proposals – estimates, though, that Warren’s tax would raise between $2.3 trillion to $2.7 trillion over a decade. That’s as much as $1.4 trillion less than the Warren campaign’s estimates. The analysis was released on Thursday,” adds Fox.

Sen. Warren’s campaign dismissed the study.

“This analysis does not study Elizabeth’s actual plans — it does not account for the strong anti-evasion measures in her wealth tax and does not even attempt to analyze the specific investments Elizabeth is committed to making with the wealth tax revenue,” Warren campaign spokesperson Saloni Sharma said in a statement to Fox News. “This is an analysis of a different and worse plan than Elizabeth’s, using unsupportable assumptions about how the economy works, and its conclusions are meaningless.”

Read the full report here.

Source: Fox News