Why Elizabeth Warren's Wealth Tax Won't Work
Elizabeth Warren says her “Ultra-Millionaire Tax” will raise $2.75 trillion. History says otherwise.
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Elizabeth Warren wants the federal government to provide free healthcare for every American, college for every student who wants it, childcare for every parent, and housing for low-income families.
And she wants to pay for it all with a new tax on the richest of the rich. She calls it the "Ultra-Millionaire Tax."
Skimming a bit more off the top of the bank accounts of the ultra-wealthy might sound like a good deal for working- and middle-class Americans who feel like they're falling behind, but the reality is that wealth taxes have been tried before. And they haven't worked the way Warren promises.
Full text and sources available at https://reason.com/?post_type=video&p...
Produced by John Osterhoudt. Based on an article by Peter Suderman. Additional graphics by Josh Swain.
Photo of Sen. Warren; credit: F. Carter Smith/Polaris/Newscom
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