Property Tax Is the Original ‘Wealth Tax’

Like you, perhaps, I was surprised and not quite sure what to make of the proposal from more than one presidential candidate to impose a wealth tax, not simply an income tax, on the super-rich. 

Then it occurred to me that it’s really nothing new. Homeowners already pay a “wealth tax” in the form of  property taxes, but it’s not a graduated tax paid only by the super-rich, as proposed by Elizabeth Warren and others.