Elizabeth Warren’s Private Property Confiscation Wealth Tax bill would NOT have raised $114 billion from billionaires in 2020 – March 3, 2021,
Unfortunately what most people do not understand about Elizabeth Warren’s tax bill because media outlets aren’t explaining the details correctly, is that in order for Elizabeth Warren’s tax bill to work, the wealthy who fall into her wealth tax bracket will have to a lot of appraisals on their personal properties, which many don’t have, because most of the wealthiest people don’t keep their properties in their own name.
I’m not sure if Elizabeth Warren plans to pierce the corporate veil or invade individuals Trust accounts, but her wealth tax is not only unconstitutional, meaning that it would be wide opened to legal challenges, but it would cost the Federal Government a lot of money to implement.
In fact, what Elizabeth Warren’s tax would be inviting is deflation, because in her fit rage and stupidity when writing this bill, she created an arbitrary number beginning at $50 million dollars. What a lot of people do not understand is that the numbers posted on Forbes for the wealth of particular individuals are not accurate, those numbers are usually estimations, based on drive-by appraisals.
Rich people are usually bombarded with entities willing to help shield them from taxes. It’s not to say that Elizabeth Warren’stax won’t be put into law, it’s just that the legal challenges would have eaten up the projected $114 billion in the year 2020, that the article claims below.
Even current taxes are challenged by the rich, people forget, that taxation without representation can be challenged, my pre-school teacher used to call the television the IDIOT BOX because when people watch and listen to it, they imagine and even act on things that aren’t true.
What good is $114 Billion dollars if it costs you $200 billion to confiscate it? Most of the taxes are currently paid by the poor and middle class, primarily because idiots fall for these tax the rich scams all the time. If people ever wonder why a lot of rich people turn into globalists, it’s because of idiots like Elizabeth Warren who believe western nations don’t have a due process.
There are due processes’ for everything, if you’re caught speeding, you as a citizen have the right to challenge the speeding ticket, the same is true if a wealth tax were implemented. Because it costs the government to fight legal challenges, most governments will settle and if you’re rich, you’re not going to allow the government to settle, you’re going to challenge everything and drain the government of their ability to challenge.
Taxation without representation is THEFT, just because you’re upset that some individuals produced a better mousetrap that made them and possibly their descendants rich, doesn’t mean that a government official has the right to confiscate their wealth. In fact, if every U.S citizen decided to stop paying taxes, there is nothing the government could do about it.
The reason people believe these tax the rich ideas are good is because a lot of people enjoy creating villains or looking for a convenient enemy to destroy. ‘This person has too much wealth’, the government should take it from them?
The governments’ balance sheet continues to expand even though the percentage of taxes they’ve been taking from all classes of society has continued to grow. The rich not paying their fair share is clearly the government, which was created primarily to protect our freedoms and liberties, not to pick winners and losers in society.
Does anyone genuinely believe charging the rich a wealth tax will shrink the governments’ debts? If you believe this, you clearly haven’t seen the U.S debt clock!? Yea good luck with that $114 Billion per year. What really annoys me about the mainstream media is that they don’t tell both sides of the story, they take a one-sided approach to everything, sensationalizing stories to fit the narrative they’re trying to convey.
This propaganda approach to journalism helps no one and dumbs down society, which is very unfortunate for future generations. Let’s not forget that it’s very easy to become a billionaire in Zimbabwe, don’t be surprised if one day $50 million dollars per year is the new $30,000 per year.
Interesting times ahead!