More frequently, politicians are talking about a wealth tax. As with the income tax back in the early 1900s, politicians promise that the tax will only be one or two percent and will only apply to the rich. But, as with the income tax, if politicians can convince voters to allow the government to impose a tax on wealth, it will be less than a decade before that new tax hits the middle class.

Foolishness of the Week: 15:15 Main episode: 19:45

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Quick Hits

https://robertreich.substack.com/p/ceo-pay-is-out-of-control

https://www.bls.gov/oes/current/oes111011.htm

https://www.reuters.com/business/ceo-pay-averaged-167-million-last-year-sp-500-companies-decline-2023-08-03/

Foolishness of the Week

https://www.nbcnews.com/news/us-news/sports-illustrated-publisher-fires-ceo-latest-exec-terminations-ai-sca-rcna129236/

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