FROM THE
Unleash Prosperity Hotline

Even Denmark Hates Wealth Taxes

What irony: the same week Elizabeth Warren was unveiling her soak the rich wealth tax for the USA, the voters in socialist Denmark overwhelmingly rejected such a tax.

Social Democratic Prime Minister Matte Fredericksen made a proposed levy of 0.5% on fortunes above $3.9 million the centerpiece of her re-election campaign this week. The pitch was that the money would fund smaller class sizes in schools – a perennially popular issue with voters.

 

 

Her approach bombed.  The Social Democrats had their worst election performance since 1903.

Niels Christiansen, the head of the LEGO toy empire, campaigned against the measure by saying it would lead to “less job creation, less tax generated from companies, less competitiveness for a broad range of Danish companies.”

A dozen European nations have pulled back or abolished their wealth taxes since the 1990s because they were economically “counterproductive.”

So the liberals in Congress are now officially to the left of the European socialists.

Maybe Greenland really would be better off sticking with the Danes.

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