BO was once quoted as saying that nobody should be allowed to save more than $3 million for retirement.
Fine, give everybody a $3 million exemption and tax personal wealth above that point. Of course, it is a stupid idea. Your most productive people would spirit most of their wealth out of the country, but it would be fun to make the Democrats be the ones to shoot the idea down since so many of them fit this category.
Exactly.
So if Sanders’ greatest concern is “inequality”, then why doesn’t he propose a wealth tax? The skew in concentration of wealth is far greater than that of income.
Answer: Sanders isn’t against inequality. He just wants to build a moat around the superrich so that the petit bourgeoisie can’t climb into their ranks, and further crowd the beach at Southampton...