The biggest question regarding wealth redistribution or any other big government funding that requires taxing the rich and the wealthy and well-off...
is...
the resentment that all of that creates.
Why would any productive member of society continue being productive just to have government take it away? The more productive members of society getting soaked and penalized, just for being more productive and smart and knowing how to manage their lives and funds better than the less productive.
You penalize the productive members of an economy, and you end up with a lot less productivity to tax and take away from. At a certain point, almost as quickly as the taxes and wealth-redistribution take hold. the tax revenues will be drying up and then, there will be NOTHING of value to tax and the funding dries up for the social experiments schemes.
Dumb as rocks are all the socialists who don’t have the brain matter to be able to extrapolate the repercussions that inevitably come from their stupidity.
“You penalize the productive members of an economy, and you end up with a lot less productivity to tax and take away from. At a certain point, almost as quickly as the taxes and wealth-redistribution take hold. the tax revenues will be drying up and then, there will be NOTHING of value to tax and the funding dries up for the social experiments schemes.”
The last time I checked California real estate prices were high and subject to real estate taxation that was costly given those high prices.
It’s way past time Warren Buffett, Bill Gates, Zuckerberg et al feel the effects of ad valorum taxation like the homeowners of Connecticut, New York State and New Jersey.