A wealth tax, as it's currently being mooted is flagrantly unconstitutional.
Wealth taxes are creepy and impose untold costs on society. Speaking with Brian Kilmeade this am about the unexpected middle-class burden that resulted from a 1969 wealth tax, the AMT.
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Not really. Local property taxes are a wealth tax. This just does a better job of getting at wealth.
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You said this is a nation of opportunity. Many Americans cannot have affordable housing because we have chosen to protect incumbent homeowners rather than to promote economic liberty. The American property ladder is missing a few rungs at the bottom BY DESIGN. Can you defend it?
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All taxes impose a burden on society. Payroll taxes that tax the young on their first penny of income may be the most burdensome because it is such a hindrance to accumulating wealth. America needs a fair and simple tax policy.
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The Federal government should get out of the tax and spend business. Congress should just send a bill to each State for it’s share of Federal spending.
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