“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.
