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Bernie and Warren have evolved beyond Socialism and are now Communist.
Many of their Wealth tax proposals would be illegal and not pass Supreme Court.
It is confiscation of your money after it's been taxed. It's not a tax.
Yup, they are full blown communists...right out of the manifesto. They can miss me with all of these "tax" the rich" proposals....until I see them living in the same homes as everyone else, and eating the same grey gruel in their bowls...they really are just "do as I say, not as a I do" politicians.
I would not put Warren and Bernie in the same lane. She is definitely liberal but does believe in capitalism.
And I am completely baffled as to how one could 'prevent' billionaires. If someone is successful over a long period of time, creates a great new invention, manages a company particularly well, or simply puts a smaller fortune into investments for a long enough timeframe, they will be billionaires. I understand taxing investment income outside of IRAs/401ks and even some form of inheritance tax on uber wealth- but taxing wealth to remove the specter of billionaires is pretty dense.
And plenty of wealthy people already give large sums to charity while alive and make generous donations at death. That is their choice. I see no reason to let someone else make it mandate by seizing their money/assets.
Let's discuss the opposite. Should 46% of people in a place like Florida (that's the stat) be "not making it"?
If we had 1,000 of us on a desert Island should we allow one family to beef up to 300 lbs each while having others starve to death?
I think most people naturally have a sense of what the answers are here, especially if you've read history. Starving Brits and others shared what little they had when marooned or shipwrecked. Our Nation was formed partially in response to a "one small class of people owns ALL" mentality.
There is no reason to set an arbitrary dollar amount but we should pay our bills (we are not doing it) and the richest country in the world should be able to provide health care and basic services to all.
I am not a Bernie supporter (or a Warren or a Biden or a Trump supporter), but I do think that it is a disgrace that billionaires exist as long as there are people who cannot even afford a basic existence, meaning adequate shelter and food.
(And, btw, I am very much against those who CAN work but refuse to do so. What I am talking about are the working poor, poor senior citizens, and the disabled who must decide whether it is more important to pay a utility bill or to go to the dentist.)
Sanders isn't a Democrat...he merely masquerades as one every four years.
But yes Bernie is a simplistic buffoon who is like a broken record. Simplistic buffoons unfortunately are very much in vogue politicians in the current zeitgeist including the current occupant at 1600 Pennsylvania Ave (who has proposed his own Wealth tax in the past).
I am no apologist for the high income inequality we have in our current gilded age. That said, wealth taxes are better at reducing inequality on paper than anything. And this becomes more apparent as the taxes go from the modest levels that prevail currently in Switzerland or Norway to the confiscatory rates proposed by Sanders.
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