Gundlach: ‘Wealth taxes ladled on top of our current tax system basically punishes success’

Gundlach: ‘Wealth taxes ladled on top of our current tax system basically punishes success’

Billionaire bond investor Jeffrey Gundlach, the founder and CEO of $135 billion DoubleLine Capital, views a wealth tax as "primarily vengeance." 

"I think, the wealth tax is primarily vengeance, really. I don't think it raises very much money … I am in the camp that wealth taxes ladled on top of our current tax system basically punishes success," Gundlach told Yahoo Finance in a wide-ranging interview this week.

To be sure, the 61-year-old bond investor does favor a wealth tax in place of an income tax.