Treasury secretary Janet Yellen has recommended one foolish policy after another while ignoring their negative long-term effects. Her policies, both as Fed chair and as Treasury secretary, have contributed to inflation and debt. She has proposed an ill conceived capital gains tax that would reduce future economic growth. Furthermore, she argues, incorrectly, that the federal government’s growing debt is sustainable.
Capital Gains
When nominated for her current position, Yellen said that the Treasury Department would look into the possibility of a tax on the unrealized capital gains of billionaires. This option was incorporated into President Biden’s latest budget proposal […]
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