[DCBryan1]

Lawyers and tax free muni brokers (like me) would make out like bandits. The "rich" (who give me gainful employment) would have lawyers gift the maximum (11mm per married couple) to their heirs...and then create foundations, charities, and trusts in order to keep the wealth they have honestly made, earned, and should keep.

Then they will call me and say they want tax free income, exempt from federal taxes.

This would be bad. VERY bad...and when it backfires, that $50mm will become $5mm, and then $500,000.00 until they just take it.

[HombreSecreto]

Interesting. Create a law that targets “the rich” as a smokescreen but in application is directly targeted at the middle class.

[Bucky14]

Don’t worry, the Gov will soon take over 401K’s. Guarantee a 1% return and make sure everyone gets a sliver of the pie! What could possibly go wrong?

[DivineMomentsOfTruth]

How does grabbing the wealth work? They just keep taxing you every year so you can never get ahead of their target amount? They keep lowering the maximum until they have taken it all?

The "caring, sharing" Left are Satan in disguise.