Biden must be wary of punishing the wealthy


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Annabel Denham quoted in The Telegraph

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IEA speaker quoted in The Times

Annabel Denham writes for The Spectator

Annabel Denham, IEA Director of Communications, has written for The Spectator on President Biden’s plan to ramp up taxes on billionaires, as part of his budget plan totalling $5.79 billion.

While Annabel acknowledges that some billionaires have amassed their fortunes illicitly, she highlights the tremendous economic good that many of the world’s billionaires have brought in recent years.

“Of course, not all billionaires are equal. There are those who have become hyper-rich through immoral and illegal means. Billionaires sit on a sliding scale from outright criminality to legitimate capitalism – and if the President wanted to go after the dodgy few, hardly anyone would object. But this is not what Biden is proposing. Instead, he wants to hammer those who are creating hundreds of billions in economic value, not to mention millions of jobs, worldwide.”

Read the full article here.


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