Biden Proposes a New Wealth Tax

Just like the first one, it is antithetical to sound tax policy and economic reasoning.

You have to hand it to the leftists: They never give up. Despite the demise of President Biden’s Build Back Better plan — along with its wealth-tax proposal — the administration is back again with yet another idea for taxing wealth. They’ve just given it a new name.

The Treasury Department recently released its explanation of the administration’s FY 2023 revenue proposals. The so-called Green Book lays out exactly how the administration proposes to raise $1.628 billion in new taxes over the...