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But we saved everything 🙂.
The prospect of imposing a wealth tax that would need to collect $4.4 trillion over a 10-year period indicates its significant inefficiency, according to Kyle Pomerleau.
Pomerleau points out that to achieve this revenue target, wealth taxes would have to burden capital income at rates greater than 100 percent. He suggests that such an approach highlights fundamental flaws in the design and efficiency of wealth taxation.