Why A Wealth Tax Will Do More Harm Than Good - Steve Forbes | What's Ahead | Forbes

Should there be a wealth tax? As we close in on the 2020 election, the Democrats think there should be, but such a tax could kill the economy. Steve Forbes on the truth behind these tax-the-rich ideas and how they would do more harm than good.

What's Ahead featuring Steve Forbes provides his insights and perspective, to stay on top of what's happening in this ever-turbulent world with glimpses into the future. What’s Ahead airs Tuesdays, Thursdays and Fridays.
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[stefjoseph-kruyswijk]

Funny, rich people talking about how bad the tax will be. But did nothing useful with tax cuts they were given

[yusufrahman]

He himself is a billionaire so he will oppose this. Got the proof today that even Forbes is biased

[yardsale]

Gee I wonder why the ultra rich dude would oppose a wealth tax that would affect him but not like 95% of people.

[ledzeppelin]

If the billionaires have to sell their shares of stock in order to pay the tax, the value of stocks will drop significantly. Anyone who owns stock--which includes everyone with a 401K--will see his/her wealth ALSO decrease. Taxing the wealth of the rich will hurt EVERYBODY!

[EvangelistRBColbert]

This is why I don't like Liberals!

[bagofbarn]

Why is Forbes running ads bashing Democrats? Do they want us to stop reading and watching them?

[junieweenen]

Not all "wealth taxes" are the same. A tax on the rental value of land is better than neutral and its revenues would allow taxes on beneficial activities to be reduced. Sure, that would reduce house prices by transferring incomes, typically to those that find housing unaffordable now. But that's a good thing.

[christianhill]

Wealth is already under the eye of government scrutiny isn't it....there are certain limits and regulations....etc

[ruwiki]

salaries over 1, 000, 000 dollar p.a. should be taxed with 75 %.

[matthewm]

Isn’t it like 2 cents on every dollar above $50, 000, 000?

[elliottd]

Outright alarmist rhetoric and gaslighting. He's full of it. The IRS and state tax collectors already have the very rights to examine your finances he's being alarmist about here. Further the wealth tax is designed to tax INCOME above a certain threshold not the businesses or real property you own.

Do better. If this is a channel designed to inform the public then you should present the facts, not rhetoric.

[SabbathSOG]

Please do a video regarding Sweden. It's taxation, no minimum wage, etc.

[BlackSheepRave]

Most of the wealthiest Americans will not qualify for the wealth tax. It’s also false information given too. A lot of first world countries like Denmark and France still have a wealth tax and most economists agree that wealth tax is a good idea. They’ll be taxing assets like there private yachts and other luxury assets. Consumer spending is great for the economy and the ones who spend the most on goods are the middle class.

[Je.rone_]

*IF* there is to be a wealth tax it should only be through the estate tax, which I consider to be a wealth tax. Emphasis on the *IF*

[joremgoc-ong]

Wealth tax is a bad idea the us government should find a better solution for wealth inequality but wealth tax will surely affect the us economy for sure.

[realdeal]

Bwahaha! Go on, Stevie! A wealth tax is bad? Haha! Aren’t you worth (checks notes) $480 million?

[BioHazardCL]

Yes, we should wealth tax you!
People who can have millions in shares and investments can afford to spend some.cash to keep it so someone who.makes minimum wage can not be homeless if they lose their jobs.

[erikjunker]

So you’re a public figure who’s worried about the IRS snooping on you? Yeah nobody is gonna agree with you here dude you’re super rich and you just wanna get grumpy because heaven forbid the IRS take away a few bucks of your MILLIONS of dollars. Please don’t be greedy. Also you better be prepared for a lot of comments like this buddy 😂😂😂. Just look at your surroundings... looks like you don’t need all that guap grandpa.

[christianhill]

What if it was regressive(decreasing) and coupled with deductions and the proliferation of private and/or non-profit services

[sherjeelhashmi]

Lol riches opposing the wealth taxes thats B.S