HeadLocke No. 85: Wealth tax would represent ‘horror’ for American economy

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HeadLocke No. 85: Wealth tax would represent ‘horror’ for American economy

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Democratic presidential candidate Bernie Sanders wants to enact a new wealth tax to bankroll his policy agenda. Before Elizabeth Warren dropped out of the presidential race, she touted the same type of tax. The idea is “misguided as a practical matter, unconstitutional, unenforceable, and overhyped,” according to David Bahnsen, a portfolio manager and chief investment officer for The Bahnsen Group. In a recent Commentary magazine article, Bahnsen also labeled a wealth tax “immoral and unfair” and wrong for America. Bahnsen outlines his concerns about a tax that would destroy capital while hurting growth, investment, and productivity in the U.S. economy.

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