The main problem with this bit is that is reveals that the authors (and editors, if they bothered) are completely financially illiterate. We do not tax "wealth

The main problem with this bit is that is reveals that the authors (and editors, if they bothered) are completely financially illiterate. We do not tax "wealth" in the US; we tax net income. This fundamental flub -- in an article ostensibly about money (!) -- tells me we can't take any of the numbers or financial mechanics it presents seriously.