Just when I thought I had heard every moronic attack on capitalism, leave it to Senator Warren to top them all - even Ocasio-Cortez.
As president, Ms Warren wants to institute a "Wealth Tax". For those who think, "Great - the wealthy will pay", think again. A wealth tax means the IRS would assess YOUR wealth every year, and tax you on it. Everything you own, personal or business, would be taxed again and again, year after year, UNTIL IT IS GONE!
Just one small example: you are 25 and have $10,000 in the stock market, or in cash, or equity in your home - whatever. You pay incomes tax on it when you earn it. Then, every year, the government taxes you on it yet again. At even a 2% tax rate, that's $200 per year. By the time you retire, it's GONE your cash, your investments, your home, your business...
But she gets even crazier. She wants to also institute an "Exit Tax". If you decide that either you want to leave the country in order gain more favorable tax treatment (or for ANY reason), the government would confiscate 40% of your entire wealth as punishment. That is in addition to the income taxes and wealth taxes you have already paid! You would leave as a pauper.
Senator Warren should just come out and be honest - she wants the government to own everything. And if that ever happens, we have seen what the result would be, in feudal England, where the king and the Lords owned everything, and the masses were merely pawns, living and dying at the mercy of the "overlords".
Everyone should understand this one important and irrevocable fact - whenever an entity gains power, other entities must lose it, just like in a poker game. The more power the government has over us, the less power we have over ourselves. And with the loss of power comes the loss of liberty. If government power continues to grow, kiss your freedoms good-bye.
We have already lost much of our freedom. Can you build a needed addition on your home without government permission (zoning)? We can't even grow certain crops for our own use without permission of the Commerce department. And if your community wants to take your property and give it to someone else who will improve it and pay more taxes, they can now do so. Can you pray in a public place? Can you own and carry a firearm wherever you go? We have lost a tremendous amount of freedom since March 4, 1789 when the Constitution became the law of the land.
If America is to remain the land of the free, it must remain the home of the brave - those who will fight people like Warren, Ocasio-Cortez, Bloomberg and any other little tyrant who wants to destroy it by granting more power to the government.
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