When I wrote about the wealth tax early this year, I made three simple points.
- A war on wealth is a war on capital (increased double taxation is needed since rich people have
a lot of saving and investment). - A war on capital is a war on productivity (every economic theory agrees there is no added output without saving and investment).
- A war on productivity is a war on workers (every economic theory agrees that there is a link between wages and how much workers produce).
I obviously have not been very persuasive.
At least in certain quarters.
A story in the Wall Street Journal explores the growing interest on the left in this new form of taxation.
The income tax..system could change fundamentally if Democrats win the White House and Congress. …Democrats want to shift toward taxing their wealth, instead of just their salaries and the income…
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Utopia, you are standing in it! 
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