A wealth tax proposed by Senator Elizabeth Warren has found favor in certain academic circles, including the University of California, Berkeley. It would be 2 percent of worldwide assets of U.S. citizens and residents in excess of $50 million and 3 percent of assets in excess of $1 billion, in addition to existing income and transfer taxes. It’s claimed this wealth tax would raise an estimated $2.75 trillion in revenue over 10 years. But is it constitutional?
This week, we profile Mitch Abbott:
CEB: What is your practice area and how did you choose it?
Mitch: I specialize in handling writs and appeals (mostly in the state courts) on behalf of cities and other public agencies. The cases I handle include election disputes, complaints of non-compliance with the California Environmental Quality Act (CEQA), “takings” claims in the context of local land use regulation, challenges to local taxes, assessments and bonds, and constitutional challenges to city ordinances in a wide variety of settings — from billboards to newsracks, and from juvenile curfews to regulation of adult-oriented businesses.