Liz Warren is a piece of work, and sadly, for her, she can’t be in the Whoever is Running the Biden Administration (WRBA) Cabinet. As bad a Republican as Charlie Baker can be, if Warren departs for greener energy pastures and meetings in the West Wing, Baker will fill her Senate seat with a Republican if in name only – and Dems lose the Chamber.
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That’s not stopping plans within plans Liz Warren. She is from the government and she is here to help. Surrounded by many like-minded socialists who will help her with this.
Massachusetts Sen. Elizabeth Warren, Washington Rep. Pramila Jayapal and Pennsylvania Rep. Brendan Boyle want the ultra-wealthy to pay for it.
The three Democrats unveiled the Ultra-Millionaire Tax Act on Monday morning. It would levy a 2% annual tax on the net worth of households and trusts between $50 million and $1 billion as well as a 1% annual surtax on assets above $1 billion, for a 3% tax overall on billionaires.
What is the “it” for which they want the ‘wealthy’ to pay? More government disguised as ‘reviving the economy’ and income equality. Cue the nervous laughter and the fetor of flop sweat.
Donald Trump did the opposite. He lowered taxes. The left wailed and moaned, predicting economic doom. What happened? America experienced one of the fastest and strongest economic recoveries in the nation’s history.
Democrats see that and say, hold my fair trade skim-milk mocha-latte with a pinch of cinnamon. And yes, you can smell it but don’t drink it. They will kill that economy, and billionaires will pay for any of that.
The result will be a cascade of downward economic forces that increase costs for the people Democrats are claiming to help as an excuse to grow the government.
That is the plotline of every political policy tragedy cast into law by the left.
Whatever the claim, the government gets bigger and the people smaller while those who are supposed to benefit suffer most. An ultra-wealth tax will do no different.
The rich are not drakes napping on piles of gold, and Liz Warren is not an adventurer promising a few buckets for the peasants.
No one says, hey, I’m going to give the bureaucrats a billion because I know I’ll get my money’s worth or it will do good things. Not even Democrats because a private person will do more good with a billion than the government could do with one-hundred billion.
That money is invested in and across a wide range of assets and industries. It finds things that people actually want or need. It backstops private industry, commerce, innovation, loans, the arts, and charity. It creates wealth and opportunity, and the further it is from Lizard Warren’s reach, the better.
As I like to say, Democrats destroy everything they touch, and the time has come to go to war with prosperity. They’ve got their hands on the throat of your once-booming economy, and Liz just showed up to kick it between the legs.
