Why are we arguing about wealth taxes? | FT #shorts
Financial Times·2026-08-24 07:02
Why are we arguing about wealth taxes. The notion of taxing the very rich is gaining traction even in that billionaire's playground, the US. Californians will vote in November on a measure to tax residents worth a billion dollars or more.Proposition 40, and the state's wealthy are building a war chest to defeat it. This comes at a time when more young Americans are embracing democratic socialism and leftist politicians who favor taxing the rich much more. So, how do wealth taxes work.Most people get taxed o ...