Remember the politicians only say they are going to apply their new wealth tax to billionaires.
You are not a billionaire, so, you don't care as much one way or another.
Go after them fatcats savings. They don't need 2 billion or 100. Let them settle on 1. And that's more than generous, right? The government prints the money, so they gov't owns all the money. Right?
As morally abhorrent as that concept is... You will be shocked at how quickly it turns around and starts targeting YOUR savings. It'll go after the thousandaires. That little pile in the bank you were thinking of using as a car downpayment. Your 401k you wish you had put more in over the years. The relatively tiny windfall you got after the gov't took it's bite from the estate and you then sold off your mom's house after she passed.
And that still won't be enough for them. It's never enough.
What is the inherent limit on .gov spending? ? Trick question.
ReplyDeleteThere isn't one.
As far as wealth taxes (confiscation), the basis for that is the
same as it is for armed robbery-they've got it, so we can take it.