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Insights Is There a Wealth Tax in Your Future?
May 02, 2019
- A variety of new tax proposals focus on wealthy Americans.
- Among the many proposals are a wealth tax, a financial transactions tax, and a top individual tax rate of 70%.
- While none of these tax plans are likely to be enacted before the 2020 election, we could, depending on that election’s outcome, eventually see higher tax rates and reduced exemptions within the current tax system. However, new taxes, such as a wealth tax, would face significant logistical and constitutional challenges.