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Andrew Yang criticized Elizabeth Warren’s wealth tax plan on Tuesday during the CNN/New York Times debate, stating that it would have “massive implementation problems” and would not “generate the revenue” projected.

Here’s the key exchange:

Erin Burnett: “Mr. Yang, your response. Would you impose a wealth tax?”

Yang: “Senator Warren is 100% right that we’re in the midst of the most extreme winner take all economy in history, and a wealth tax makes a lot of sense in principle. The problem is that it’s been tried in Germany, France, Denmark, Sweden, and all of those countries ended up repealing it because it had massive implementation problems and did not generate the revenue that they had projected.”

Warren’s “wealth tax” has even been criticized by the Washington Post editorial board, noting it “conveys a certain authoritarian odor.”

As Americans for Tax Reform previously stated, a wealth tax would empower IRS agents to keep a list of all household assets, which is extremely intrusive.

In addition, the Warren “wealth tax” would be ruled unconstitutional, and as Yang stated, the tax has been repealed by the following countries: Sweden, Denmark, The Netherlands, Austria, Finland, France, Germany, Iceland, Luxembourg, Ireland, and Italy.

These countries found the tax to be unworkable and economically harmful.

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