Can a wealth tax actually solve our political and fiscal problems? The math says no.
Economists argue that a wealth tax is ineffective at solving fiscal problems or reducing the political influence of concentrated wealth.
Economists Emmanuel Saez and Gabriel Zucman, among others, have advocated for wealth taxation as a way to reduce political power resulting from wealth concentration and raise substantial revenue. Here's why that won't work.
READ NEXT
More on the wire
AI TLDR
Santa Ana police arrested Hahn Nguyen on charges of animal cruelty and abandonment. The arrest follows a video that allegedly showed her luring a dog under a minivan.
AI TLDR
A new report indicates the Biden administration approved 99% of migrant child sponsorship applications in one year. The report highlights concerns regarding the safety of these children after the Department of Homeland Security lost contact with 291,000 minors.
AI TLDR
Text messages show that special counsel Jack Smith's staff did not reference basketball teams, contradicting claims made by Sen. Eric Schmitt. Schmitt had previously accused Smith of attending a game in Atlanta to link him to the Georgia prosecution of President Trump.