Tag: Wealth Tax

Fiscal Watchdog Warns Against Wealth Tax in Connecticut and Five other States

The Center Square

New York is being cautioned against raising taxes on its top earners as lawmakers consider plans to drum up more money from the state’s wealthiest. 

A group of progressive Democratic state lawmakers have proposed a raft of tax reforms targeting New York’s ultra-rich that includes adding new tax brackets for the highest earners, increasing corporate taxes for the top companies, and setting wealth taxes on capital gains and inheritances.

Backers of the Invest in New York proposal say the package of reforms would drum up another $40 million to $50 million for the state’s education, housing and transportation needs. 

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Commentary: Biden’s Wealth Tax Is a Bad Idea That Cannot Be Ignored

Admin

Imagine a world where you were not taxed on how much you earned in a given year, but instead on how much your wealth appreciated.

To some this sounds like something straight out of John Lennon’s communist manifesto, also known as the song “Imagine.” Like the song, the music surrounding the words are enticing, but also like Lennon’s hit, the words themselves spell the death knell of freedom.

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