Riddle of How Wealth Taxes Solve Anything

Letter to Romans: “Wealth taxes” are not only constitutionally suspect, it’s been proven time & again they end up generating LESS revenue. And, who’s stupid enough to lie down let alone stay in a city or state that uses the tax man to beat its successful citizens over the head?

That’s the perennial head scratcher recently alluded to iin a post by Florida Gov. Ron DeSantis. Take California. Please, already! As the governor wrote: “The mere proposal of a counterproductive, unconstitutional wealth tax in CA has caused massive flight of wealth out of the state. [A referendum petition was reportedly filed with enough signatures to put it to a vote.] If actually enacted, it would lead to a predictable loss of revenue as people change their behavior as a result…” As one Aakash Gupta replied: “This is one of the dumbest tax proposals in California’s history, and the math is so bad it embarrasses the people who wrote it.”

While Gov. DeSantis & Mr. Gupta may be right on the policy & its likely impact, it isn’t going to “embarrass” anyone on the progressive left, which has long ago abandoned any pretense of fiscal responsibility. And, that’s why California as well as most other progressive cities & states are financial basket cases. They are forever raising taxes to fun ever-increasing deficits generated by ever-expanding government programs that thereby create new rather than solve any old problems.

Davd Soul