Nope. No wealth tax. No redistribution of income, earnings, wealth or whatever you want to call the rewards of thrift and effort. America would be much better off going to a flat tax. “Tax the rich” is what leads to the perception that government hands out free money, so it doesn’t matter how much of “other people’s money” is wasted. If everyone feels that they have skin in the game, we are more likely to demand responsible spending by government.
To pay off the debt, we should cut spending to the bone - eliminate anything not in the Enumerated Powers. Collecting more money from productive Americans does not shrink the debt; it just promotes more wasteful spending. No, thank you.
A wealth tax is way superior to the income tax, flat or otherwise.
“To pay off the debt, we should cut spending to the bone - eliminate anything not in the Enumerated Powers.”
Fat chance of that happening - there are voters to be bought in Novembers of even numbered years.
“Collecting more money from productive Americans does not shrink the debt; it just promotes more wasteful spending.”
Threatening to collect more money may discourage wasteful spending.
Threatening to collect more money from wealthy people may discourage them and those who merely think they are wealthy from contributing to politicians fond of wasteful spending.