With tax filing season now comfortably in the rearview mirror, many Americans have put tax policy to the back of their minds until next April. Unfortunately, this is not the case for the many central planners in Washington. One particular tax proposal that will not go away is that of a wealth tax. Populists have renewed the drumbeat to levy taxes based on an individual’s net worth, regardless of whether those assets or gains are realized or not. Such a proposal would hinder economic growth and needlessly expand the power of the federal government.
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