5 reasons why a wealth tax is bad policy ...Middle East

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5 reasons why a wealth tax is bad policy
During the Supreme Court’s flurry of end-of-term activity, another seismically consequential decision largely escaped notice.  Its ruling in Moore et ux. v. United States, which upheld a tax on undistributed foreign income, was carefully crafted to retain the provision of the 2017 tax law at issue while leaving the door open to the type of wealth taxes proposed by Sens. Elizabeth Warren (D-Mass.) and Ron Wyden (D-Ore.). Such taxes have become increasingly popular on the American left, as significant wealth has been created without ever being “realized” — the moment at which tax obligations are incurred. Wyden’s Billionaires Income Tax Act, proposed in late 2023, draws specific atten

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