Elizabeth Warren "Wealth Tax" was described by the WaPo editorial board as having "a certain authoritarian odor"

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Posted by John Kartch on Tuesday, July 30th, 2019, 11:10 PM PERMALINK

After dodging questions about middle class tax increases during the CNN Democrat presidential debate in Detroit Tuesday night, Elizabeth Warren repeated her demand for a "wealth tax" on the American people.

"So I have proposed a wealth tax, it's now time to do that. It's time to tax the top tenth of one percent of fortunes in this country," Warren said.

Warren's "wealth tax" would empower IRS agents to keep a list of all household assets, an extremely invasive power. The Warren "wealth tax" also contains a 40% "exit tax." Even the Washington Post editorial board said this arrangement "conveys a certain authoritarian odor."

The Warren "wealth tax" would also be ruled unconstitutional, and wealth taxes have been repealed in the following countries: Sweden, Denmark, The Netherlands, Austria, Finland, France, Germany, Iceland, Luxembourg, Ireland, and Italy.

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

 

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