Elizabeth Warren’s Wealth Tax on the Super-Rich Is the Wrong Solution to the Right Problem

Jan 30, 2019 - Time Magazine

Senator Elizabeth Warren’s proposal for a 2% annual wealth tax on households with a net worth of $50 million or more has drawn praise from progressives who view it as a necessary response to rising economic inequality and jeers from conservatives who see it as confiscatory and unconstitutional. But commentators on both ends of the ideological spectrum seem to agree on one thing: Warren’s idea is “radical.”

In fact, a 2% annual wealth tax isn’t all that dissimilar — at least in ...