Wealth Tax Realities Quite Taxing
Gary Silverman Last week, we broached the subject of a wealth tax in this short series about “fair” taxation. The original version said that it was, at best, two-to-three presidents away from being seriously considered. Then Elizabeth Warren proposed a wealth tax, which my modified column acknowledged, but didn’t have the space to go into. Today I will. The proposal would have anyone who owns stuff worth over $50 million to give 2% of that to the government (above $1 billion, they’d be taxed 3%). Math tells me that if I was worth $50 million that would mean that I’d need to give the...