As can be expected the presidential race is
underway. Now Senators Warren and Sanders are calling for a massive change to
the tax code. Their objective is to create a total redistribution of wealth.
The plan is to end the Golden or Gilded age of American entrepreneurs. In other
words they see no reason for individuals to be worth billions of dollars. The
answer for them is a wealth tax which would half the value of their holdings
with the intent that such money be redistributed in social programs that
benefit everyone. This is a nice idea but it shows that these candidates have
no idea how tax laws are passed. Neither the House nor the Senate would have
the guts to take on such an idea. Surely no one knows what the effect would be
on a global economy where entrepreneurs here in the United States were given a
disincentive to be so extremely successful. Isn’t it piling up all that money
that gets them out of bed in the morning?
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