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Interesting a younger Donald Trump proposed a wealth tax back in 1999 (of 14.5% on $10M or more). But the 16th Amendment clearly says "income" tax. It doesn't
by masterofpuppets 6y ago
Interesting a younger Donald Trump proposed a wealth tax back in 1999 (of 14.5% on $10M or more). But the 16th Amendment clearly says "income" tax. It doesn't say "wealth" or "assets" or "property", so any wealth tax without an amendment would fail on constitutional grounds.
- glutamate 6y agoYes I remember him proposing that; as I recall, the quid pro quo was a concomitant permanent abolition of the estate tax, which would have a sweet deal for the Trump dynasty.