Cathie Wood Warns Wealth Taxes Could Hand China an Innovation Advantage

Cathie Wood said wealth taxes could give China an advantage over the U.S., viewing such taxes as a direct threat to innovation.
Wood argued that wealth taxes could destroy the "animal spirits" that drive entrepreneurship and investment, and said the U.S. should avoid policies that weaken incentives for innovation. She warned China could gain an edge if the U.S. makes it harder for innovators and investors to deploy capital.