It’s legal, and it’s just. View this in your browser and share with your friends. <[link removed]>



<[link removed]>













The Legal and Economic Justifications for a Wealth Tax



Sen. Elizabeth Warren (D-MA) has an early priority as she begins her new role <[link removed]> on the Senate Finance Committee. 

“My first order of business on the @SenateFinance <[link removed]> Committee—the committee that leads tax and revenue policy in the Senate—will be to introduce legislation for a #WealthTax on fortunes above $50 million,” she tweeted <[link removed]> earlier this month. As she told MSNBC’s Joy Reid, that would amount to a two-cent tax on the top 0.1 percent of wealth-holders. 



Critics contend, as they did during the 2020 presidential primaries, that such a wealth tax is unconstitutional because of the “apportionment rule,” an integral component of the three-fifths compromise <[link removed]> over slavery. 



Those critics are wrong. 



As Ari Glogower <[link removed]>, David Gamage <[link removed]>, and Roosevelt Fellow Kitty Richards <[link removed]> explain in a new issue brief, the apportionment rule—which requires certain taxes to be apportioned among states according to their populations—does not curtail Congress’s broad power to enact a wealth tax, whether apportioned or not.



Regardless of Supreme Court justices’ personal preferences or motives, constitutional provisions and case law confirm: A wealth tax is constitutional. <[link removed]>



It’s also an economic necessity, as Roosevelt Program Manager Emily DiVito writes for the blog.



“Taxing income at higher rates and with fewer loopholes is important, but it doesn’t touch the wealth the very top has already amassed, and it doesn’t fairly measure a person’s or family’s true economic status or ability to pay their fair share.”



A wealth tax, she argues, would be fair, just, targeted, and effective. Learn why. <[link removed]>











What Makes for a Strong Presidential Transition?



Next week, join us for a conversation about presidential transitions past and present—and a glimpse into the Biden-Harris transition.







Featured speakers:



- Edward E. “Ted” Kaufman (Former US Senator from Delaware & Co-Chair of the Biden-Harris Transition Team)

- Felicia Wong (Roosevelt President & CEO)



Moderator:



- Christie George (Senior Advisor at New Media Ventures)



Register now. <[link removed]>







What We’re Reading

To Make a Lasting Impact during the Biden Administration, Support Systems-Change Leaders [feat. Roosevelt’s Felicia Wong] <[link removed]> - Inside Philanthropy



The Biden Team Wants to Transform the Economy. Really. [feat. Wong] <[link removed]> - New York Times



Biden Presidency Starts with a Giant Bet on Run-It-Hot Economics [feat. Roosevelt’s J.W. Mason] <[link removed]> - Bloomberg



Scoop: Biden Considering Lisa Cook for Open Fed Seat <[link removed]> - Axios



The Path to Racial Justice Runs through This Agency <[link removed]> - New York Times



The Risks of Going Too Big on Stimulus Are Real—but Going Too Small Could Be Riskier [feat. Roosevelt’s Darrick Hamilton] <[link removed]> - Vox











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