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National News

Elizabeth Warren's Wealth Tax Gets Criticism From Recent Study

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Elizabeth Warren's Wealth Tax Gets Criticism From Recent Study

2019-11-15 00:50:36

An early outside analysis of Sen. Elizabeth Warren’s wealth tax proposal shows it could slow U.S. economic growth. The University of Pennsylvania’s Penn Wharton Budget Model says it could shave off .2 percent in growth each year for a decade. According to Business Insider, supporters say the study ignores the fuller economic impact. The study doesn’t take into account how Warren’s other policies would affect economic growth. It also assumes money made from the tax would pay down federal debt and not student debt relief.

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