My Turn: What progressives won’t tell you about the wealth tax
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A wealth tax equals high youth unemployment. Don’t take my word for it – just find the countries in Western Europe that had a wealth tax and see what the unemployment rate is today for the 19- to 26-year-olds.
In countries such as France, Greece, Portugal, Italy and Spain, the unemployment rates are in the double-digit range. Of the 14 countries that tried the wealth tax, only four of them still have it today because the tax never raised the amount of money the politicians said it would.