Performative nonsense. What are the odds that the current Congress and President make this a law? What are the odds that the current SCOTUS deems this remotely constitutional?
Beyond that, wealth taxes are nuts. As is taxing unrealized gains. Their money was already taxed as income, or as a cap gain. If it’s sitting there as stock or other assets, the value of those assets might decrease, and there’s no refund for that.
Also, having billionaires is good. We should have lots of them. Every individual with wealth is a tiny center of power. Every center of power helps offset the centralized power of the federal government — preventing the government from having a monopoly on speech, ideas, and much more. You know what happens when you make everyone equally poor? Communism with an all powerful state.
2 Comments
DOA, but cute nonetheless.
Performative nonsense. What are the odds that the current Congress and President make this a law? What are the odds that the current SCOTUS deems this remotely constitutional?
Beyond that, wealth taxes are nuts. As is taxing unrealized gains. Their money was already taxed as income, or as a cap gain. If it’s sitting there as stock or other assets, the value of those assets might decrease, and there’s no refund for that.
Also, having billionaires is good. We should have lots of them. Every individual with wealth is a tiny center of power. Every center of power helps offset the centralized power of the federal government — preventing the government from having a monopoly on speech, ideas, and much more. You know what happens when you make everyone equally poor? Communism with an all powerful state.