Taking $540 billion out of the private sector and turning it over to the government? That’s not a wealth tax. It’s a tax on all of us. It may hit the wealthy more directly than it hits the rest of us, but that’s small comfort.
WSJ item:
House Health Bill Relies on Wealth Tax
House Democrats plan to pay for their health-care legislation with a big tax increase on wealthy households, aiming to raise $540 billion over the next decade.