Wealth Taxes Would Hit the Young Hardest.
Saved in:
| Title: | Wealth Taxes Would Hit the Young Hardest. |
|---|---|
| Authors: | Burshtein, Dimitri (AUTHOR) |
| Source: | Wall Street Journal - Online Edition. 7/15/2026, pN.PAG-N.PAG. 1p. |
| Subjects: | Wealth tax, Fiscal policy, Older people, Tax reform, Capital investments, Pensions, Economic development, Retirement age |
| Abstract: | The article focuses on the fiscal challenges posed by an aging population and declining birthrates, which have led to renewed interest in wealth taxes, such as California’s proposed 5% tax on billionaire wealth and Governor Gavin Newsom’s national minimum tax on Americans worth over $100 million. It explains that shrinking worker-to-retiree ratios strain public pension systems, prompting governments to borrow heavily and consider taxing capital to fund entitlements. However, the article argues that wealth taxes may reduce capital investment, slowing productivity growth and ultimately lowering wages for a smaller workforce, while historical evidence from Europe shows such taxes often fail to generate expected revenue and cause capital flight. It suggests alternative fiscal reforms, including adjusting retirement ages, shifting pension models, means-testing benefits, and favoring consumption taxes, as more sustainable solutions to pension funding issues. [Extracted from the article] |
| Copyright of Wall Street Journal - Online Edition is the property of Dow Jones & Company Inc and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Regional Business News |
| FullText | Text: Availability: 0 |
|---|---|
| Header | DbId: bwh DbLabel: Regional Business News An: 195346839 AccessLevel: 6 PubType: News PubTypeId: newspaperArticle PreciseRelevancyScore: 0 |
| IllustrationInfo | |
| Items | – Name: Title Label: Title Group: Ti Data: Wealth Taxes Would Hit the Young Hardest. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Burshtein%2C+Dimitri%22">Burshtein, Dimitri</searchLink> (AUTHOR) – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Wall+Street+Journal+-+Online+Edition%22">Wall Street Journal - Online Edition</searchLink>. 7/15/2026, pN.PAG-N.PAG. 1p. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Wealth+tax%22">Wealth tax</searchLink><br /><searchLink fieldCode="DE" term="%22Fiscal+policy%22">Fiscal policy</searchLink><br /><searchLink fieldCode="DE" term="%22Older+people%22">Older people</searchLink><br /><searchLink fieldCode="DE" term="%22Tax+reform%22">Tax reform</searchLink><br /><searchLink fieldCode="DE" term="%22Capital+investments%22">Capital investments</searchLink><br /><searchLink fieldCode="DE" term="%22Pensions%22">Pensions</searchLink><br /><searchLink fieldCode="DE" term="%22Economic+development%22">Economic development</searchLink><br /><searchLink fieldCode="DE" term="%22Retirement+age%22">Retirement age</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: The article focuses on the fiscal challenges posed by an aging population and declining birthrates, which have led to renewed interest in wealth taxes, such as California’s proposed 5% tax on billionaire wealth and Governor Gavin Newsom’s national minimum tax on Americans worth over $100 million. It explains that shrinking worker-to-retiree ratios strain public pension systems, prompting governments to borrow heavily and consider taxing capital to fund entitlements. However, the article argues that wealth taxes may reduce capital investment, slowing productivity growth and ultimately lowering wages for a smaller workforce, while historical evidence from Europe shows such taxes often fail to generate expected revenue and cause capital flight. It suggests alternative fiscal reforms, including adjusting retirement ages, shifting pension models, means-testing benefits, and favoring consumption taxes, as more sustainable solutions to pension funding issues. [Extracted from the article] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Wall Street Journal - Online Edition is the property of Dow Jones & Company Inc and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bwh&AN=195346839 |
| RecordInfo | BibRecord: BibEntity: Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 1 StartPage: N.PAG Subjects: – SubjectFull: Wealth tax Type: general – SubjectFull: Fiscal policy Type: general – SubjectFull: Older people Type: general – SubjectFull: Tax reform Type: general – SubjectFull: Capital investments Type: general – SubjectFull: Pensions Type: general – SubjectFull: Economic development Type: general – SubjectFull: Retirement age Type: general Titles: – TitleFull: Wealth Taxes Would Hit the Young Hardest. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Burshtein, Dimitri IsPartOfRelationships: – BibEntity: Dates: – D: 15 M: 07 Text: 7/15/2026 Type: published Y: 2026 Identifiers: – Type: issn-print Value: 25749579 Titles: – TitleFull: Wall Street Journal - Online Edition Type: main |
| ResultId | 1 |
