Doug Casey: When you tax something, you discourage it. If Elizabeth Warren wants to tax people's wealth, that's going to encourage people to hide their wealth. And discourage them from getting wealthy. So, it's poison from an economic point of view.
But it's even worse from an ethical or spiritual point of view. It sends a signal that wealth is evil. That it has to be kept under control and limited. That a political priesthood should determine how much is enough and who should get it. It's especially perverse in that people like Warren act like they have the moral high ground. When in fact, they're in the moral gutter.
She says she's pushing it to keep people from getting "too wealthy," which is actually insane. It's exactly the opposite of what we should want. We want to encourage everybody to become very wealthy so that everybody's a capitalist.