Grant Williams breaks down the math: "$54 million in Dallas is really like $58 million in Boston."
Plus: Why people believe doomer narratives, schools seek to define social media platforms as public nuisances, and more...
Norway hiked its wealth tax. A bunch of rich people got the hell out.
The higher taxes on small businesses and entrepreneurs could slow growth. Less opportunity means more tribalism and division.
Biden is set to propose a new tax on unrealized investment gains and to quadruple a recently imposed tax on stock buybacks.
IRS Controversially Claims Hiring 87,000 New Agents Won't Mean Higher Audit Rate for the Middle Class
So why do Democrats keep equivocating on the point that households making under $400,000 may be targeted for more audits by an expanded IRS?
"Advantaged group members misperceive that equality necessarily comes at a cost to their group."
France's Authoritarian Establishment Faces Off Against the Even Uglier Authoritarianism of the Far Right
French President Emmanuel Macron is authoritarian-light. Candidate Marine Le Pen is worse.
Wealth isn't held the way many believe it is.
Wealth tax proponents claim only super rich people would be affected. But to raise the revenue Warren, Sanders, and Biden want, they'd have to tax the "working rich"—doctors, lawyers, and other hardworking high earners.
"Multi-billionaires like Elon Musk, Jeff Bezos, Richard Branson are off taking joyrides on their rocket ships to outer space. They are buying $500 million superyachts."
Joe Manchin keeps saying out loud the part that Joe Biden would rather keep quiet.
The president's new budget plan calls on Congress to tax wealthy Americans' unrealized capital gains.
It Sure Looks Like Democrats Don't Have the Votes To Raise Enough Taxes To Pay for Their Massive Spending Bill
And it just might reduce the tax burden for the well-off in the short term.
Imposing a wealth tax may not even be among the enumerated powers of Congress.
Bezos pitched in by creating an online marketplace of cheap consumer goods that people can get delivered to their homes in two days flat.
AOC Says Amazon Abuses Market Power, Ignores Fact That Customers Shop at Amazon Because They Want To
After returning from space yesterday, Jeff Bezos thanked Amazon customers who made his fortune possible.
Private space companies' efforts are a boost to the government's own space programs, in addition to being objectively cool.
In capitalist societies, the poor get richer.
Tax hikes and growing debt guarantee shared pain in a hobbled economy.
And it has failed in almost every country where it's been tried.
A proposed wealth tax would collect 97 percent of its revenue from famous billionaires.
The proposed tax would apply to not just wealthy residents, but anyone who is wealthy who has lived in the state for the last 10 years.
Elizabeth Warren Drops Out. Her Failed Campaign Is a Reminder That Even Democratic Voters Don't Want a Woke Policy Wonk in the White House.
The Massachusetts senator failed to expand her appeal beyond a core group of highly educated upper-middle-class voters.
The Vermont socialist has always claimed to be a champion of the working class. But over time, his wealth tax would fall heavily on ordinary Americans.
"It's been tried by other nations," the New Jersey senator said.
Warren says her wealth tax math "clearly" adds up. It doesn't.
Does economic success deserve to be punished? The Democratic Party will have to answer in the coming primaries. Joe Biden is on the correct side of it.
Sanders has proposed a wealth tax to eliminate billionaires and fund his expensive domestic policy agenda.
Warren Wants 'Big, Structural Change' That Goes Beyond Anything Previous Democratic Administrations Have Proposed
Warren doesn't merely want to turn back the clock to the pre-Trump era. She wants to raise taxes and regulations far beyond the levels of the late Obama-Biden administration.
The unintended consequences of helping students with the brightest futures.
Her big new tax plan is impractical, ineffective, and probably unconstitutional.