The Federalist
•56% Informative
Julian Zelizer : Kamala Harris and Tim Walz plan to raise $5 trillion in tax increases over 10 years .
He says Harris-Walz plan would increase top tax rate on capital gains to 44.6 percent .
Zelizer says the tax will reduce the value of all capital-gaining assets by imposing an unavoidable, government-enforced new cost on them.
People will be paying real taxes on imaginary increases in capital gains, he says.
That will further suppress economic growth — and tax revenues. All the damage the tax would cause would neither raise federal tax revenues nor punish the wealthy. This unprecedented and probably unconstitutional tax scheme would bring on many other harmful effects. The full destructive power of the Harris-Walz wealth tax is unknowable, though its overall outcome is clear: a massive economic contraction and an awful and unnecessary reduction of the standard of living all across the country..
VR Score
67
Informative language
73
Neutral language
46
Article tone
informal
Language
English
Language complexity
53
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
detected
Known propaganda techniques
detected
Time-value
short-lived
External references
no external sources
Source diversity
no sources
Affiliate links
no affiliate links