Don’t fall for disingenuous opposition to wealth taxes

Most “concerns” are really about protecting the status quo

By Vanessa Williamson and Michael Linden

In response to the growing popularity of recent wealth tax proposals, the New York Times this week published a handwringing analysis of their potential impact on economic growth. Not surprisingly, the very first anti-wealth tax argument comes from Treasury Secretary Steve Mnuchin who cites a discredited “trickle-down” theory that higher taxes on capital will hurt investment. It’s an especially preposterous position given the failure of the recent corporate tax cuts to spur any discernible increase in business investment.

Budget and econ wonk. Pittsburgh native. Father of three. Aspiring to be Leslie Knope (would settle for Ben Wyatt). Personal account. Opinions my own.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store