fbpx Be very skeptical about how much revenue Elizabeth Warren’s wealth tax could generate | Harvard Kennedy School

HKS Affiliated Authors

Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor

Excerpt

Be very skeptical about how much revenue Elizabeth Warren’s wealth tax could generate. Lawrence Summers, June 28, 2019, Opinion, "Sen. Elizabeth Warren, D-Mass., has made her proposed 2 percent wealth tax on those worth more than $50 million a central part of her presidential campaign. Emmanuel Saez and Gabriel Zucman, two economists at the University of California at Berkeley, who helped developed the proposal, estimated it it would rake in $187 billion a year. In April, we published a piece in the Washington Post suggesting that this estimate was likely overly optimistic. This week, Saez and Zucman published a rejoinder." Link