Liberals think like children. They operate on emotion. They think their college degrees in basket weaving makes them the smartest people in the room.
Liberals think rich people have cash to be taxed. They don’t know they are only rich on paper but they cannot liquidate their business holdings into cash. Liberals are morons.
Just so...not only would seizing all the billionairs cash and holdings not produce enough for "income equality" but the government seizure of investment holdings would greatly accelerate the economic destruction of the republic, faster even than Venezuela. Global apocalypse...
My now-wife once had good amount (far from “rich”) of money in Canadian stocks. She was taxed on it’s on-paper value annually, and paid thousands for it. Then the company folded, the stocks crashed, and she got exactly nothing out of it - but the gov’t sure did benefit, real cash for paper value.
Enact a 6% wealth tax, and 6% becomes the new 0% baseline for investments. Sure it’s only on “billionaires”, but that ripples out to the rest of us.