Tag: Ronald McKinnon

Wealth Tax Today, Confiscation Tomorrow?

By Thomas J. Stanley on Jan 17th, 2012 in Studying the Wealthy

Proposals for a tax on wealth frighten me.  Take for example a recent editorial “The Conservative Case for a Wealth Tax” by Ronald McKinnon in The Wall Street Journal.  Mr. McKinnon first argues that increasing the income tax rate of high earners would be for various reasons ineffective in raising federal revenue.  He claims that “income inequality . . […]