More Proof that ‘Progressive’ Wealth Taxes Hurt Average Americans

(eranicle/Getty Images)
A new study reaches the obvious conclusion that ‘soaking the rich’ doesn’t help anyone.

NRPLUS MEMBER ARTICLE I t’s a well-observed truth that when you tax something, you get less of it. What many of today’s Democrats don’t seem to understand is that the rule applies just as much to taxes on wealth itself as to taxes on, say, cigarettes or alcohol.

Progressive California state legislators recently proposed an extreme tax that would even follow residents who flee the state with their assets: a 0.4 percent annual tax not on income, but on wealth itself, applied to all Californians with assets totaling $30 million or more. Meanwhile, Senator Elizabeth Warren’s long-time championing of a wealth tax has caught on

To Read the Full Story

Recommended

The Latest