Many progressive politicians feel that billionaires should not exist.
Nobody should have that much money, they say.
Has the time come to tax not what they earn, but what they own?
Over 45 members of Congress have proposed a policy to do just that. They call it a “wealth tax,” but will it actually work? And will it be confined to billionaires?
Benjamin Jaros, an economist and research fellow at the Hoover Institution, explores these questions.
