Economic inequality is a central theme in the Presidential campaign. Progressives have proposed that one way to reduce inequality is with a tax on the accumulated wealth of the richest Americans, yet an influential theory in economics, endorsed by the right, argues that the ideal tax on wealth is zero. Is a wealth tax a good idea, a bad idea, or both?
Professor Eric Schoenberg is a former investment banker, a member of the Patriotic Millionaires, and has taught at Wharton, Columbia Business School, and NYU before taking his current position in Columbia’s Psychology Department. His multiple video appearances on tax policy have garnered more than 40 million views online, including this encounter with Fox News host Stuart Varney: https://www.facebook.com/PatrioticMillionaires/videos/1643177482371735/?id=126877
Peter Coy, the moderator, is Economics Editor of Bloomberg Businessweek. He writes on a wide range of economic, social, and financial issues. He is a regular contributor to the magazine’s “Remarks” column. Mr. Coy came to Businessweek from the Associated Press in New York, where he served as a business news writer since 1985.