Friday , January 24 2020
Home / Economistmeg / Wealth taxes don’t work

Wealth taxes don’t work

Summary:
The wealth taxes proposed by Senators Warren and Sanders have two primary objectives: one is to increase tax revenues to pay for universal healthcare, climate change initiatives and the elimination of student debt. The other is to reduce inequality: over the past 40 years, the share of the country’s wealth held by the top 0.1 per cent of Americans more than doubled to 20 per cent. But the history of such taxes shows they come up short on both counts. Read my latest in the Financial Times on why here. For the TV clip version, watch my CNBC interview here. Share this

Topics:
Megan Greene considers the following as important:

This could be interesting, too:

M. G. writes What Will the New Decade in Global Trade Bring?

M. G. writes What’s Ailing the Global Economy?

M. G. writes Jobs Day and Women

M. G. writes Fed on hold

The wealth taxes proposed by Senators Warren and Sanders have two primary objectives: one is to increase tax revenues to pay for universal healthcare, climate change initiatives and the elimination of student debt. The other is to reduce inequality: over the past 40 years, the share of the country’s wealth held by the top 0.1 per cent of Americans more than doubled to 20 per cent.

But the history of such taxes shows they come up short on both counts. Read my latest in the Financial Times on why here. For the TV clip version, watch my CNBC interview here.

About M. G.
Megan Greene

Biography data hidden due GDPR Data Protection. Author consent pending.
(Economic Blogs is not responsible for linked external content)

Leave a Reply

Your email address will not be published. Required fields are marked *