Punishing achievement is punishing everyone
Last week, Democrats settled on an area of apparent commonality: the desire to eat the rich. According to Treasury Secretary Janet Yellen, “Senator Wyden and the Senate Finance Committee ... would impose a tax on unrealized gains on liquid assets held by extremely wealthy individuals, billionaires.” While Yellen refused to call this a “wealth tax,” House Speaker Nancy Pelosi had no such qualms: “We probably will have a wealth tax,” she said. This has long been a talking point for the most Marxist-leaning Democrats, like Sen. Elizabeth Warren, who famously proposed a 2% ...