Source: Independent Institute
by Scott Beyer
“With Elon Musk’s ascent to trillionaire status following last Friday’s SpaceX IPO, progressive politicians are once again calling for a wealth tax. Elizabeth Warren, Bernie Sanders, and more argue that taxing immense fortunes would provide the revenue needed to fund everything from universal childcare to expanded healthcare and housing programs. Listening to them, one gets the impression that society is perpetually just one new tax away from solving its big problems. That’s fantastical thinking. The wealth tax is often presented as an obvious way to fund government programs—basically free money. Yet its proponents rarely grapple with two realities. First, the tax may be practically unworkable. Second, even if it could be implemented, the revenue would not solve the problems these politicians identify, and may even worsen them. These are separate questions, and both deserve examination.” (06/20/26)
https://www.independent.org/article/2026/06/20/always-a-tax-away-from-utopia/