“HOARDER’S TAX” PROPONENT DEFEATED IN ELECTION BID

Back in February 2013 I wrote in my newsletter about a state legislator who introduced legislation that would have imposed a “hoarder’s tax.”  The tax would have been levied on liquid assets held by businesses.  The proposal apparently went nowhere.

I’m not claiming any credit, but I’m happy to learn that the legislator who introduced that legislation was defeated in her run for a state senate seat in the 2014 election.  During the campaign, she claimed that the “hoarder’s tax” bill was introduced at the request of a constituent and that it was not something that she “necessarily supported.”  I wonder if she ever said that before it was brought up in the campaign.

As I said at the time, the “hoarder’s tax” was a singularly lame idea, with significant secondary, and perhaps not unintended, consequences.