Today's Poll Question: Should Billionaires Pay a Wealth Tax—or Only Taxes on Income?

Today's Poll Question at Smerconish.com: Should the government tax the wealth of billionaires, or stick to taxing income? Michael examines the growing debate over whether enormous fortunes should be taxed based on wealth rather than income. Drawing on his conversation from yesterday with economist Gabriel Zucman, Michael explores proposals aimed at billionaires, including the argument that vast stock holdings can appreciate for years without generating taxable personal income. But a wealth tax raises difficult questions of its own: How do you value private companies, real estate, art, and other illiquid assets—and could founders be forced to sell shares just to pay the bill? Cast your vote at Smerconish.com, and be sure to rate, review, and share this podcast.