EY Study: Global Wealth Tax Would Kill 20 Million Jobs and Shrink the Economy

Cato Institute flags risks as wealth-tax proposals gain steam in U.S., abroad

A libertarian think tank is raising fresh concerns about the renewed push for wealth taxes on the ultra-rich, arguing that countries that tried them mostly backed away -- and for reasons policymakers should remember.

EY Study: Global Wealth Tax Would Kill 20 Million Jobs and Shrink the Economy

The Zucman Proposed Global Wealth Tax Would Cost Up to 20 million Jobs, $100 billion in labor income, and $800 Billion in Global GDP in the first 10 years, then get worse A major new macroeconomic analysis released by EY finds that a coordinated 2% global minimum tax on billionaire wealth—proposed by economist Gabriel Zucman and commissioned by the G20—would inflict significant, sustained harm on the global economy, workers, and investment. The …