“Enough is enough,” Bernie Sanders said Tuesday. “We are going to take on the billionaire class, substantially reduce wealth inequality in America and stop our democracy from turning into a corrupt oligarchy.”
Except there’s one small problem.
The billionaire class he’s after would apply to married couples with a net worth of at least $32 million and individuals with $16 million.
That’s not the billionaire class.
Uncle Bernie’s tax would rise to 8% for married couples with assets of at least $10 billion.
Believe me, if he thought being a billionaire was tough, try finding the billions when you want to tax it at 8%. You won’t find a penny once the tax advisors and lawyers are done with it.
It won’t take long before a Bernie-Sanders-type tax at a $32/$16 million threshold is lowered to capture the real meat, which are the millionaires next door.
Progressives always know what’s best for your money.
They will never understand what goes into making it and therefore will never respect it.
E.J. Smith - Your Survival Guy
Latest posts by E.J. Smith - Your Survival Guy (see all)
- Your Survival Guy in Rome 30-Years A.B. (After Babson) - May 26, 2023
- Insurers Now Fleeing the Net Zero Insurance Alliance - May 26, 2023
- A Three-Week International Research Trip to Paris via Rome - May 25, 2023
- Will Biden Repeat Obama with US Debt Downgrade? - May 25, 2023
- What Does That Have to Do with Your Dividend? - May 24, 2023