The Corner

Economy & Business

Redistribution in 2019

Peter Suderman delivers a verdict on Senator Elizabeth Warren’s new plans to spend the money she thinks her wealth tax will raise: The tax won’t be enacted, and wouldn’t raise the money she claims if it were.

One point of interest: Two-thirds of the imaginary money would go to college-debt relief, making public college free for students, as well as child-care subsidies. This spending is likely to provide disproportionately large benefits to high earners. Taking money from the extremely rich to give to the merely affluent is a kind of redistribution that seems to excite a lot of Democrats these days.

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

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