Tag Archives | wealth tax

Unintended Consequences of High Taxes on the Rich

Two types of tax increases are being promoted by several presidential candidates and members of Congress. The less common idea, which I wrote about recently, is a wealth tax on net worth. The more common proposal is a significant increase in income taxes. Presidential candidate Bernie Sanders favors a progressive income tax that tops out […]

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Wealth Tax Is Impractical And Unrealistic

Democratic Presidential candidate and Massachusetts Senator Elizabeth Warren is proposing a federal wealth tax. It would impose annual taxes of 2% on those with household wealth—net worth, not income—of over $50 million and 3% on those with over $1 billion. Almost every person who owns a house, commercial building, or investment property pays property taxes […]

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