Wealth Tax Proposals and Capitalism's Future

This chapter examines the Biden administration's proposed 25% wealth tax aimed at individuals with assets exceeding $100 million, discussing the political challenges and implications of such measures. It explores the potential consequences for entrepreneurship, mobility, and perceptions of capitalism amidst shifting public sentiment and historical tax contexts. Additionally, it delves into the complex nature of taxing unrealized gains and the bureaucratic challenges that could emerge from implementing these proposals.