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.
Utilitarianism!
'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?'
Its very simple and well established economic logic at least since Adam Smith- here it is since you seem to have missed it- wealthy people have generally benefited more from the economic opportunities that collective human organised groups (nation states) render to their citizens.
It is entirely rational to redistribute wealth from the most wealthy to the least as it both stimulates consumption and increases the overall well being of the populace.
The wealth and income distribution in the USA today is huge and creates significant economic and social tension- wealth redistribution is a logical response.
I am relatively wealthy but recognise that the taxes I pay play a part in maintaining a civil society and funding the infrastructure and governance that makes life worthwhile and supports my wealth and security, and that of other citizens.
The neoliberal nonsense that you may have been breastfed on has perhaps clouded your judgement - humans work best in groups and taxes are an important part of the way of maximising the potential of human groups.