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Why A Federal Wealth Tax Is Constitutional, Ari Glogower, David Gamage, Kitty Richards
Why A Federal Wealth Tax Is Constitutional, Ari Glogower, David Gamage, Kitty Richards
Articles by Maurer Faculty
The 2020 Democratic presidential primaries brought national attention to a new direction for the tax system: a federal wealth tax for the wealthiest taxpayers. During their campaigns, Senators Elizabeth Warren (D-MA) and Bernie Sanders (I-VT) both introduced proposals to tax the wealth of multimillionaires and billionaires, and to use the revenue for public investments, including in health care and education. These reforms generated broad public support—even among many Republicans—and broadened the conversation over the future of progressive tax reform.
A well-designed, high-end wealth tax can level the playing field in an unequal society and promote shared economic prosperity.
Critics have …