[reformedliberal]

The next step is going to be a tax on accumulated assets. A wealth tax. Then there will be the various 401k/IRA schemes.

They will allow the Bush tax cuts to expire, implement the *taxes on the rich* and then, voila: reinstate the Bush rates for anyone making up to $75k or so. That will be headlined as “The Obama middle class tax cut”.

That, along w/forgiving student loans for government work or whatever other goals they have and other incentives will give them a permanent middle class majority voter bloc.

[muawiyah]

A tax on accumulated wealth is usually called a PROPERTY TAX. There are a number of variations on the theme, but such a tax is a direct tax ~ which is why the federales don't have the constitutional authority to levy them.

States do have that power, and do so ~ since they are not prohibited from engaging in direct taxation.

The income tax is a tax on income, not accumulated wealth, except for those millions of us who live paycheck to paycheck ~ then the income tax is a direct tax on accumulated wealth!

The leftwingtards appear to be unfamiliar with the constitution ~ which mean, ultimately, they will need to be reeducated!