The Vermont senator, along with Democratic Rep. Ro Khanna of California, unveiled a bill on Monday that would enact a 5% annual wealth tax on America's billionaires, which Sanders's office estimates to be 938 people.
This time though, they are just admitting that it's a redistribution play:
So what do Sanders and Khanna want to do with all of that money?
The flashiest proposal is a one-time, $3,000 direct payment to each American in households making $150,000 annually or less — meaning $12,000 for a family of four.
What are the mental hyjinx you have to get up to in order to believe that you should take someone else's money and give it to other people?
We're list making a country where rich people spend lots of money on accountants and lawyers and governments keep on printing.
The liquidations involved in paying these taxes would be insane.
And I imagine people would figure out all kinds of games to lower valuations.
Lower valuations and hide wealth or distribute it in ways that minimize the tax hit.
"What's happening to my retirement portfolio??"
They never fail to consider the Constitutional issues this would face via the Direct Tax Clause. I do not see how it would be able to address the fact that certain states would suffer disproportionate implications.
Why don't we just kill 1 of them an divide up their assets among everyone else. It would only affect 1 person.