New Push for ‘Wealth’ Tax Could Impact All Taxpayers
Some liberals are discussing the idea of a global wealth tax.
According to Dagen McDowell, the tax would be placed on idle wealth, in other words, money that’s just sitting in the bank.
She said Germany, Sweden and Denmark have gotten rid of their wealth taxes over the past few years.
“This is the most extreme socialist idea that you can come up with,” she said.
Ben Stein wanted to know where these taxes would go, and Charles Payne remarked that it would affect everyone because the wealthy people who generate jobs would have to scale back.
Watch the “Cavuto on Business” segment above.