A very jealous, resentful Elizabeth Warren wants to confiscate the wealth of millionaires. She is worth over a million dollars herself which could be why she is going after the “ultra-millionaires,” as she calls them, with a wealth tax. It amounts to nothing more than a seizure of private property.
Democrats really think other peoples’ money is theirs for the taking.
She is planning to punish successful people and steal their money. Warren and friends will take whatever they want and redistribute it.
Democrats will get to choose how much they can confiscate and how much they will redistribute.
Wealth taxes are what communists like Venezuela’s Huge Chavez put in place when they first take over.
On Monday morning, Senator Elizabeth Warren of Massachusetts (D) proposed the new tax bill, alongside Washington Representative Pramila Jayapal (D) and Pennsylvania Representative Brendan Boyle (D), that would reportedly place a tax on “ultra-millionaire” net worths and households.
It’s co-sponsored by communist Bernie Sanders (D-VT).
They want to fund their socialist/communist projects with the money.
WHAT THIS ACTUALLY MEANS
The tax would reportedly place a 2% yearly tax on the net worth of households and trusts above $50 million. Any households and trusts that have a net worth of over $1 billion would have to pay another 1% annual surtax. This would leave billionaires with a total tax of 3%.
In other words, they aren’t taxing cash, they are going after all assets. They will go into someone’s home and other entities, look at everything they own, their paintings, their cars, investments, inheritance, and other possessions, to tax the same assets and to tax them over and over, every year.
Only communism does this.
This is not constitutional. The Supreme Court in Austin vs. the US said under the 8th Amendment the government cannot seize property without any reason tied to the seizure.
Senator Warren released a statement about the bill, saying:
“The ultra-rich and powerful have rigged the rules in their favor so much that the top 0.1% pay a lower effective tax rate than the bottom 99%, and billionaire wealth is 40% higher than before the COVID crisis began. A wealth tax is popular among voters on both sides for good reason: because they understand the system is rigged to benefit the wealthy and large corporations. As Congress develops additional plans to help our economy, the wealth tax should be at the top of the list to help pay for these plans because of the huge amounts of revenue it would generate. This is money that should be invested in child care and early education, K-12, infrastructure, all of which are priorities of President Biden and Democrats in Congress. I’m confident lawmakers will catch up to the overwhelming majority of Americans who are demanding more fairness, more change, and who believe it’s time for a wealth tax.”
She’s a liar, a hater, and a greedy, envious individual. Who is she to steal other peoples’ money?