Beware of Wealth Tax Proposals

The recent Supreme Court decision has opened the door to a wealth tax, sparking backlash from Republicans. This tax targets unrealized gains on assets like property, art, stocks, and bonds. Elizabeth Warren is pushing for a 2% annual tax on households with over 50 million in assets, threatening to hold middle-class tax cuts hostage if her demands are not met. The proposed wealth tax aims to increase taxes for the wealthy and corporations, potentially affecting the average taxpayer negatively.