JPMorgan Sees Wealth Tax Chance Less Than 5%, Even With Sanders

Feb. 7, 2020, 5:58 PM

There’s a long way to go from Iowa to a wealth tax, according to JPMorgan.

“We put the probability of major changes like Medicare-for-all or a wealth tax at less than 5%,” analyst Jesse Edgerton wrote on Friday, noting that after the Iowa caucus, Bernie Sanders leads the Democratic field in election models and prediction markets.

Edgerton sees a very low probability that “dramatic” policy proposals from Sanders or Elizabeth Warren will be enacted, as the Democratic nomination process is far from over and the likelihood of a victory by Donald Trump “looks close to a coin flip,” with prediction ...

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