Vermont lawmakers propose a 'wealth tax' for high income earners in the state

State lawmakers in Vermont are proposing legislation this week that would impose new taxes on the state's wealthier residents. One proposal would tax those with a net worth of over $10 million on capital gains, while another would add a 3% marginal tax on incomes that go over $500,000 a year, according to The New York Times. Both proposals are being sponsored by Vermont state Rep. Emilie Kornheiser of Brattleboro, chair of the Ways and Means Committee. “The way our tax structure is set up, our middle class is carrying...