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When assailing global governance, pundits rarely comment on its impact on small countries.

The parade of new taxes that Democrats have pitched in recent weeks demonstrates that Congress is picking from a menu of bad decisions.

In ongoing discussions with House Democrats about their ever-evolving plan to expand the role of government in American life, House Speaker Nancy Pelosi reportedly told her members: “There is no bad decision.”

eye on the news The Impoverished Wealth Tax It fails as a revenue generator and as a tool to deliver fairness. Politics and law Economy, finance, and budgets On Monday, a group of Democratic lawmakers led by Senator Elizabeth Warren introduced the Ultra-Millionaire Tax Act, a bill that would levy a 2 percent annual tax on individual assets worth more than $50 million and a 3 percent tax on assets worth more than $1 billion. In her announcement, Warren noted the popularity of wealth taxes, as polls show that Americans tend to support the idea. But the apparent popularity of th...

26 Feb 2021 The socialist government of Argentina imposed a one-time wealth tax on its citizens this week, allegedly to offset the country’s crippling debt, which has worsened during the Chinese coronavirus pandemic. Argentine citizens with assets of more than 200 million pesos ($2.3 million) must pay about three percent in taxes on assets declared within Argentina and over five percent on assets held abroad. The one-time special levy will apply to around 12,000 people in the South American country. Argentine senators passed the so-called “millionaires’ tax” by 42 votes to 26 in Dece...