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Cato Podcast · Thursday · 38 min

Wealth Taxes Failed Abroad. Why Try Them Here?

Most rich countries that tried annual wealth taxes eventually scrapped them, but now California and Elizabeth Warren want to run the experiment in the United States. Ryan Bourne talks with Adam Michel about how a “modest” 3 percent levy can swallow 60 percent of an asset’s 5 percent return—and leave workers footing much of the bill. Hosted on Acast. See acast.com/privacy for more information.

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Most rich countries that tried annual wealth taxes eventually scrapped them, but now California and Elizabeth Warren want to run the experiment in the United States. Ryan Bourne talks with Adam Michel about how a “modest” 3 percent levy can swallow 60 percent of an asset’s 5 percent return—and leave workers footing much of the bill.

Hosted on Acast. See acast.com/privacy for more information.

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