As you may have heard, the richest man in the world recently acquired Twitter for $44 billion. A few politicians, like Sens. Elizabeth Warren (D-MA) and Ron Wyden (D-OR) have opinions on that fact. Unfortunately, it’s the same opinion they have just about anytime anything at all happens of late — that it is proof of the need for a “Billionaire’s Minimum Income Tax,” as proposed by President Biden. In reality, all Elon Musk’s acquisition of Twitter proves is that administering such a tax would be monstrously complex and economically distortive.
Read the full story here.