Why does The Economist hate wealth taxes?

The intelligentsia are going all-in against wealth taxes. Are they just trying to mislead us, or do they have valid criticisms?

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CHAPTERS

(00:00) Intro

(00:55) Are we a meritocracy or an inheritocracy?

(06:53) Inheritance tax vs wealth tax

(12:27) Would it deter innovation?

(18:52) Taxing the most productive people

(21:07) The Economist’s integrity

(22:21) What our intellectual elites think

(25:40) Confused or misleading?

(27:30) They are trying to distract you

(28:42) Why journalists bat for billionaires

(30:26) If you have less than £10m listen to this

(34:47) Wealth taxes are NOT far-left

(36:56) We need the intellectual classes

(38:45) They are scared we’re going to WIN