Remember when the left wanted to tax the rich? In liberal states, they are redefining rich downward– anyone making $125,000 a year will be taxed a state rate of 9.9% in Oregon. New York is going after those who make more than $125,000. Washington is adding wealth taxes to an ever lower amount of income.
Now they are even talking about stealing 5% of someone’s total net worth- on top of all of the other taxes.
Here is what Peter Schiff had to say about that, and it’s one of my favorite quotes:
If you tax 70% of what I make above a certain amount, what I am going to do once I hit that amount is simply take the rest of the year off, and furlough all of my employees. See you in February.
Mayor of New York Mamdani was elected with Socialist promises of free ice cream and a socialist utopia, with a solemn promise of making the rich pay for it. It only took 51 days for him to float the first tax increase on people who aren’t rich.
“This would effectively be a tax on working and middle class New Yorkers, who have a median income of $122,000,” he said
That amount of money is not much in New York. The people making $122k isn’t a lot of money. The proposed tax hike? A 9.5% increase in property taxes. This is why I keep saying New Yorkers need to stay there, and stop moving to Florida where they vote for more of the same policies that made them come here in the first place.
Freedom loving Americans are getting their asses kicked by the Communists. I’ve been warning my readers for nearly 6 years of the coordination, the funding, and the training being displayed by the left. Their C3 and intel is equal to a professional army.
Steven Crowder has evidence of highly coordinated tracking of federal officers in Minneapolis “the media won’t show you”
This is INSANE
“Last night, our team, they recorded a signal call — In this signal call, the participants coordinate exactly how to trace and follow up with… pic.twitter.com/nZq2L5sjDE
What does the right have? A bunch of uncoordinated people with guns. I just dont think that’s enough. The right needs to get all of its shit in one sock, or they are gonna get rolled.
Most would focus on the headline: A protester in Florida was struck by a car while blocking the road. That isn’t the story, as far as I am concerned. The real story is the answer to these questions:
A protest was organized, signs were made, and there were press releases about the planned protest, all in less than 7 hours in response to an event that happened over 1200 miles away. How are they this organized, and who is paying for it?
I swear to you, I feel like we are living in the middle of an Ayn Rand novel. Listen to James Talarico, a Democrat state representative from Texas:
So the part of Henry Reardon will be played by Elon Musk. Somehow, the left thinks that people over a certain wealth level are somehow stealing from the poor. So they are going to reward his success by stealing the money that he has earned.
They are complaining about him becoming a trillionaire. Think about what he has done to hit that amount. My house is powered by his products in the form of Tesla Powerwalls. Millions in rural areas now have Internet service who otherwise wouldn’t because of SpaceX. He was the founder of PayPal. The left is incensed that his new pay package from Tesla will be $1 trillion, but the devil is in the details.
The $1 trillion payday will be spread over a decade. They aren’t talking about his income- they want to tax him to cap net worth. He isn’t receiving $1 trillion in cash- he will get that in stock in Tesla, and only if he hits certain targets to include Tesla becoming an $8.5 trillion company by delivering millions of EVs, robotaxis, and Optimus robots. So what happens when they tell him he can’t make that much money in the USA without it being confiscated? What would YOU do if you were worth $1 trillion, and the country wanted to confiscate it all?
That is the key question: what happens when they pass a law to cap income? Where will it be capped? I promise you that it won’t be a trillion. I have seen proposals that vary quite a bit. For example, Bernie Sanders says that a 100% tax should apply to income over $999 million. What happens when you make no money beyond a given point?
Some proposals go as low as an 85% tax at $500,000 or more. But exactly WHAT is income? Is the threshold for wages only, or all income (capital gains, dividends, business income, etc.)? Many high-income people get much of their money from capital/business income, so a 100% tax on wages alone wouldn’t affect them much.
There are numerous ways to circumvent such a scheme. I could pay myself $1 less than the limit, then pay my wife, and then each of my kids $1 less than the limit. Close that loophole, and I will simply stop working as soon as I hit that limit. So imagine what happens when people hit that cap:
The really rich will simply leave the country. Imagine if Japan or some other nation became the home to SpaceX, Microsoft, and Apple.
Those who are at the low end of liberal seizures of wealth will simply go Galt each year. Imagine your doctor, lawyer, or other professional when the simply stop working in September and take the rest of the year off. Oh, you are going to pass a law saying they have to work all year? Ok, they have accountants and a calculator- they will simply work three days a week, or perhaps three weeks per month.
Why would anyone continue to work or invest if they had to assume all risk, but could get no profit. Once you hit this limit, you would simply stop taking risks.
This is a stupid idea, but that’s how communism works.
The top 10% have $113 trillion net worth. Just a 1% tax on that net worth would make the deficit sustainable indefinitely or fund much of the progressive wish list. pic.twitter.com/1lWvSCT3Ok
To be in the top 10% of net worth in the US, a household needs about $1.5 million. Those people are your nurses, many business owners, electricians, plumbers, and other blue collar workers. Also includes doctors, lawyers, and many other professionals. If you buy a house at 30, have it paid off before retirement, and contribute money to your 401k, you will likely be in the top 10%.
This is the left setting the stage for the confiscation of everyone’s retirement funds. They are making you think that they are going after “the rich” when in reality they are targeting ordinary people and their retirement funds.
They are selling it as a tax on billionaires, but a 1% “wealth tax” on net worth means a tax on unrealized capital gains- they will take your house or your retirement fund.
This article says that when poor people see rich people, they are more likely to vote for wealth redistribution. This is the exact reason why we are not a democracy. Flip it- suppose that the 51% of people who are the richest vote to make the 49% of the poorest become slaves. How would this be morally any different than the poorest 51% voting to take the money of the richest 48% for themselves?
What we are all watching right now is a collapse of the old Democrat party. Pelosi is out- I think they are pushing her out for her role in replacing Joe with the Hoe. Schumer is about to be forced out by AOC as part of the end of the government shutdown, and all of a sudden the crazy old man who was seen as the outlier is mainstream. The democrats took a hit for shutting down government, then caving to the Republicans without getting a single concession.
That’s right, with Mamdani winning the NYC election, commie Bernie Sanders is now the mainstream. That’s the pitfall of drawing a line in the sand over what you call a non-negotiable, then backing off of your so-called non-negotiable without a whimper. You come off looking weak and ineffective, something that Republicans have been the best at for decades. Until now.
It’s going to be interesting to see if the US is willing to keep voting in communists.
