The wealth tax is bankrupt

Will a wealth tax propel the Democrats to the White House in the presidential election this fall? Three of the party’s leading presidential primary candidates, Bernie Sanders, Elizabeth Warren, and Pete Buttigieg, are campaigning on the issue. Sen. Warren’s proposal, for instance, calls for a two percent tax per year on households with more than $50 million in assets.
Proponents claim a wealth tax is necessary to reduce income inequality and fund various federal government social pro