5 reasons why a wealth tax is bad policy

During the Supreme Court’s flurry of end-of-term activity, another seismically consequential decision largely escaped notice. 

Its ruling in Moore et ux. v. United States, which upheld a tax on undistributed foreign income, was carefully crafted to retain the provision of the 2017 tax law at issue while leaving the door open to the type of wealth taxes proposed by Sens. Elizabeth Warren (D-Mass.) and Ron Wyden (D-Ore.).

Such taxes have become increasingly popular on the American left...