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John Roberts

Here's why Sen. Warren's wealth tax is likely unconstitutional

Here's why Sen. Warren's wealth tax is likely unconstitutional

There’s been a lot of commentary about whether Sen. Elizabeth Warren’s proposed wealth tax — a 2 percent annual levy on a person’s net worth between $50 million and $1 billion, and 3 percent on net worth above $1 billion — would be constitutional. Several prominent law professors signed on to two letters concluding that the tax would unquestionably be legitimate, letters the senator attached to the press release announcing her proposal.

Strangely, however, neither letter mentions a 2012 Supreme Court decision — National Federation of Independent Business (NFIB) v. Sebelius — holding that the individual mandate penalty for failure to acquire suitable health insurance in the Obamacare...

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