How a wealth tax would stifle minority communities

Remember Samuel Insull? Probably not. Most people alive today don’t, but Insull’s life and the politics after his demise reveal some clues about where we’re headed today. Born in Britain to a modest family, Insull gained a position at Thomas Edison’s British operations and would later immigrate to the United States to become Edison’s personal assistant.

After moving his way up in the company, he would become head of Chicago Edison. Insull transformed Chicago Edison into one of the largest electric power companies in the United States, employing 6,000 people and serving 500,000 customers.