Democrats are getting more creative in how they are injecting socialism into American economics, politics, and governmental policy, economist Steve Forbes warns on Newsmax.
"It's not just about subsidies, it's about control, making sure more and more aspects of your life are in government control, more businesses are in government control," Forbes told Saturday's "America Right Now" host Tom Basile.
"This gets at something, Tom, very important: Socialism no longer means having to take over something, owning something – you regulate it so business can't survive without the sufferance of the politicians. That's the modern socialism."
Forbes warned the passage of the $1.2 trillion infrastructure bill sneaked in socialist tax-and-spend programs and did it in some cases in the dead of night after some of it had been removed – like wealth and death taxes that penalize unrealized gains.
"Nancy Pelosi was right: You're not going to know what's in it until after the bill is passed," Forbes added to Basile. "She won't know what's in it, but we know it's going to be a lot of bad stuff they know they can shove in at the last minute."
Most egregiously, Forbes lamented, is the so-called death tax that requires heirs to pay taxes on unrealized gains on property even if you intend to keep it.
"That's what this so-called step-up nonsense is about: It's a way of forcing you to pay tax on unrealized gains," Forbes continued. "It's one thing if sell something and you have a gain, you may owe a tax on it – quite another to just come in and say, 'hm, it's worth a certain amount, pay us a certain percentage of it."
Forbes warned this is "bad stuff" that can change American government policy and economics for generations.
"This is just the beginning of a massive wealth tax and giving the IRS the powers to go and see everything you do, everything you buy to make sure you're not getting too wealthy," Forbes concluded.
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