Below is my column in The Hill on introduction of Elizabeth Warren’s wealth tax. The bill contains two notable addition: a massive increase in the size of the IRS and what I call a “ca…
I have seen some argue this tax would only affect a small group of people, those making over $50 million a year.
As it is pointed out, these people are mobile. While the proposed tax has a "captivity tax," the question I bring up is if all those people do up and leave, all that money sounds good, but how long would it last? And without those people to tax anymore, they just may lower the bar on the threshold of wealth.