WASHINGTON—When Sen. Elizabeth Warren (D-Mass.) introduced a new “wealth tax” in her campaign for the 2020 Democratic presidential nomination, she proposed taking the United States down a failed fiscal path most Europeans gave up on decades ago, according to Cato Institute tax expert Chris Edwards.
“European welfare states that U.S. liberals like Warren look to for inspiration, such as Sweden, have changed course, repealed their wealth taxes and other high-end taxes after realizing how damaging they were,” Edwards told The Epoch Times on Aug. 5 in an email.
