[reaganaut1]

Who did not see this coming? Encourage low-skilled people to come here, legally or illegally, and then complain about "wealth inequality". A quotation of Jefferson comes to mind.

I'm sure that if a wealth tax comes, it will be on top of an income tax, not instead of it.

[Eric in the Ozarks]

No wonder they’re going out of business.

[Cincinatus]

This will never happen -- the Kennedys and the Pelosis and the Rockefllers and the Heinz-Kerrys will never permit such a thing to pass.

Only the suckers who actually work for a living are to be plucked.

[Opinionated Blowhard]

As horrible as this idea is, as much as it creates perverse incentives to spend and not save, at least it would hit hypocrites like Warren Buffett and other “patriotic millionaires” who already have a pot of money in the bank and want everyone else’s income taxed.

[Oldexpat]

If you want to see the Rats bail out on tax increases..the GOP should propose a wealth tax. All those trust fund babies and billionaires would be on the phone to DC so fast.
One thing he does overlook..is that we do have a partial wealth tax..it is real estate tax..plus dividend tax tends to be related to wealth.

[LucianOfSamasota]

Once ‘the people’ (read the state) possess all the wealth, the Marxist revolution is complete!

Who controls the means of production, (land , factories, etc.) controls the nation.

[central_va]

A tax on net worth would be better than an income tax. However hiding tangible and liquid assets is 100 times easier than hiding income. End all individual federal taxes and go back to tariffs and user fees.

[Triple]

WOW -

“From each according to their means to each according to their needs.” - NYT, Obama, Marx.

The mask is coming off.

[mreerm]

i wasn’t able to find reader comments.

am i going blind or do they not want to hear what people have to say in about the piece?

[DesertSapper]

To Reduce Inequality, Tax Wealth, Not Income

No. Tax consumption, not wealth or income.

[theBuckwheat]

As night follows day, proposals to tax wealth will leave us with a permanent tax on wealth AND on income. The result will be bigger government, which is the Time’s real objective. But this proposes that society and the economy would be better off when government seizes $1.00 from the private sector and spends it on the welfare-warfare State.

What has previous spending given us? ObamaPhones and Solyndra.

[King Moonracer]

Is Narcissim more about wealth or power. Soros worships money and power, but which one does he worship more? Barry likes power, but is too lazy to work hard at it.

[Brooklyn Attitude]

Income/wealth inequality is a phony issue designed to rationalize hatred of the wealthy and theft from high earners. If my neighbor makes 100X as much as I do it has no effect on my income, freedom or lifestyle. In England they used this justification to steal 95% of income from high earners. It didnt increase revenue, so they abandoned it. Leftys never learn.

[Graewoulf]

OBAMANATION COMMUNISM

Inequality is the primary motivator for the athlete on the field of any sport.
“I can win.”
Inequality is the primary motivator for the newly hired worker.
“I can improve my skills with this company.”
Inequality is the primary motivator for an inventor.
“I can build a better product.”

Without inequality there will be no fear of failure.
Without inequality there will be no grades at school,
No discipline at home,
No scores at a sports event,
No hope for change.

All will be equal
In the never-never land of Zombie Obamanation.
The ointment of Communist Equality
Will stifle all that it touches - - - .

[immadashell]

The Slimes has really jacked up the liberal, progressive redistribution fight since the election.

[pgkdan]

Actually that might not be a bad idea. It would shut up The Gates and Warren Buffet and George Soros for while...either that or drive them out of the country. The reason why all these billionaires claim to be for higher income taxes is because none of them pay any income tax. They pay Capital Gains. The higher the income tax is on high earners the more exclusive their little club becomes and the harder it is for anyone else anywhere to attain their level of wealth.

[ROCKLOBSTER]

To Reduce Inequality, Tax Wealth, Not Income

Tax CRIME! (not income)

[ArrogantBustard]

To Reduce Inequality, Tax Wealth, Not Income

What's so great about reducing 'inequality'?

Seriously ... this is pure marxist class warfare ... steal from the rich and give to the poor party members. "Inequality" in outcome is the right and necessary result of inequality in effort.

[EternalVigilance]

The whole premise of the article is Marxist, as several have already noted.

[cripplecreek]

We need to stop taxing production as well.

I wonder if any other nation taxes inventory on the factory floor the way we do?

[KarlInOhio]

Say you have two brothers. One spends wisely, invests, only borrows to buy things which could make more money and generally lives frugally. The other spends his income (and any money he can borrow) on wine, women and song and lives a life of general debauchery. Which one should the government tax and therefore discourage his activities? It's like killing the fatted calf for the prodigal son when he comes back to the house and demands his brother's inheritance too instead of contritely begging for any work.

Tax consumption, not income or property.