EAT THE RICH: Leftists Introduce Tax On Total WEALTH, Not Income — And It Gets Worse

Written by Wes Walker on August 15, 2020

Did you need proof that Leftist governments think they have an absolute right to your money and are kind enough to let you keep some of it? Here you go.

Normally, the Marxist mentality of the government having a RIGHT a citizen’s wealth normally remains masked until it pops up in their word choices, like how they object to tax cuts taking money from the government, as though the government is the rightful owner of that money.

But the activist left has become emboldened recently and their policies are now unabashedly reflecting that core belief, proving Reagan’s quip about the government to be absolutely correct:

‘Government is like a baby: an alimentary canal with a big appetite at one end and no sense of responsibility at the other.’

Some Californian politicians are pushing a wealth tax (not an income tax) that could hit citizens even AFTER they leave the state.

Fox Business Network anchor Neil Cavuto questioned California State Assemblyman Rob Bonta on “Cavuto: Coast to Coast” Friday over his proposal to institute a 0.4% wealth tax on Golden State residents worth more than $30 million.

The Alameda Democrat told Cavuto the proposed tax “affects about 0.15% of the California population — not the top 10%, not the top 1%, the top .15%, about 30,000 people” and would generate $7.5 billion in revenue for the state.

Here he is defending the indefensible:

“In California we’ve had taxes on millionaires in the past. We raised taxes in 2012 by 3% — and the number of millionaires and billionaires in California has grown. We have 25% of the nation’s billionaires, 17% of the millionaires, those numbers are up and we’ve grown to be the fifth-largest economy in the world. So, while worthy of consideration it has not panned out.”

Bonta added that his proposal would apply a “phased-in approach” to make sure Sacramento recoups its share of the income of a California resident who leaves the state.

“If you move in Year One, 90% of the tax bill applies…” he said, adding that the following year it drops to 80% and so on until it is phased out to zero.

Leave it to the Left to claim they want to put right the past wrongs of slavery…

…while insisting that they have an absolute right to seize the benefit from someone else’s labor.

Related…

When Pharoah enslaved his people, how much of their income did they get to keep for themselves compared to what our government ‘lets us keep’ today? The answer might surprise you: Kings, Slaves,Taxes — and America