This article is about a wealth tax, not an income tax. Right now, the government collects detailed information about all types of income. Imagine the amount of data collection and rules one would have with a wealth tax, assuming the constitution is amended to allow wealth to be taxed. Every thing of significant value—all assets and liabilities—would need to be tracked and reported.
We also know that the government’s appetite always, always grows. What might start as a few percentage points of tax on wealth over $50 million would inevitably grow. Even if none of the rates changed, more and more people would find themselves suddenly in the ranks of the wealthy due to inflation, but does any sane person honestly believe a wealth tax wouldn’t grow?
Any millionaire who would vote for a wealth tax in order to fleece their neighbors deserves to have their own wealth plundered and spread to the masses.
“Any millionaire who would vote for a wealth tax in order to fleece their neighbors deserves to have their own wealth plundered and spread to the masses.”
And immediately “disappeared” and never to be seen or heard from again.