I’m familiar with the intangibles tax. They had one in NC. My point is that if taxes are going to be debated, let’s talk about all taxes, not just the ones that keep people from becoming wealthy but taxes on wealth. I was shocked to see the number of foundations with hundreds of millions in assets, even tens of billions that are totally exempt from taxes. Gates and Buffet set one up together and received an incredible tax benefit for doing so. And a lot of these foundations are set up to give very high incomes to the children of the ultra-wealthy, and at the same allowing them to use these assets to affect social policy hidden behind tax shelters. The Yale and Harvard endowments would allow them to operate their universities without charging any tuition to any of their students; that’s obscene! Let’s go after them! Keep in mind that no congress is bound by the laws of their predecessors.
I agree with you completely—My point is that we also need to go after, aggressively, the “hidden” wealth that insulates the Left/liberals from their policies that hurt average Americans.