“I wonder when the Obama administration will propose the Wealth Tax, why screw around with income tax when the real money would be in a wealth tax. Let say everyone gets to kept 5 million worth of wealth. Everything over that goes to the gov. I bet they are working on the details right now. They will call it the Fairness Tax since it is not fair that some have a lot more money then others.”
Year 1 is the program you’ve outlined above. Year 2 will be eliminating millionaires entirely. After all, it is only “fair”.
The Wealth Tax would be a wet dream for the Marxists in government.