Questionable Assumptions Underlay Calls for a Wealth Tax

The leading proponents of a wealth tax have released a new study claiming that billionaires pay lower tax rates than the average American taxpayer. The study is co-authored by the UC Berkeley economics professors who made the case for the wealth tax supported by Senators Bernie Sanders and Elizabeth Warren. And just like their wealth tax study, this new study is coming under fire for using questionable assumptions and flawed data.