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Elizabeth Warren's Wealth Tax Crazy Idea

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By    |   Monday, 28 January 2019 09:15 AM

Why does the federal government need more tax revenues?

Isn’t this the threshold question to answer before imposing yet another tax burden?

The United States annually already takes out of the productive economy record amounts of tax revenues.

What is unquestionable is that spending by Congress, Democrats, and Republicans alike, is, metaphorically speaking, like a runaway train going downhill.

Congress long ago abandoned its duty of fiscal responsibility.

As it stands today, 100% of tax revenues go to pay for Social Security, Medicare, interest on the debt, and for defense. Those four items constitute about 60% of total federal spending.

The government borrows all the rest of the money spent on the remaining 19,000-line items, or thereabouts. That means that roughly 40% of spending results in more billions of dollars of debt and incurring more billions of dollars of interest.

Endless amounts of rhetoric about deficits and balanced budgets by one Congress after another has only resulted in the monstrous growth of the federal bureaucracy.

Willian F. Symon, former Secretary of the Treasury, said the real danger from deficits and overspending, is, “the gradual disintegration of our free society.”

Will a wealth tax slow out-of-control spending on special interest identity groups claiming victimhood and the resultant balkanization of America?


The wealth tax has no intention of equal treatment of all taxpayers. It’s another disingenuous social justice political gimmick created as grist for the propaganda news mill.

Redistributing meaningless amounts of money taken from the private sector to the public collective of politically preferred identity groups is a ploy used to accomplish a larger strategy.

The predominant goal of radical left politics is the establishment of a government based on democratic centralism. Democratic centralism is a system imposing a rigid centralization of all political power—by whatever means are necessary.

If successfully executed, then only a highly disciplined professional cadre of political party elite in the central authority will exercise power.

Deviation or disobedience from approved central authority ideology, much less dissent, is not tolerated.

America is already on notice that the Democratic political establishment is committed to the “radical” change of America by imposing their party in dominance.

The Republican political establishment habitually offers little resistance. It matters little since when they do get in a position of power, they don’t know what to do.

President Trump and the Freedom Caucus are the exceptions.

Crucial indicators of the forces of left-wing radical change at work are the dramatic rise of the suppression of free speech, clamors for wealth redistribution, expansion of welfare spending, unaccountability, intrusive surveillance, and anti-Semitism.

The elite political militants spew the propaganda that rich people are the cause of poor people which then justifies the government robbing rich people.

Calling themselves progressive is about as Orwellian newspeak as one can get.

As with any irrational hatred, these fanatical activists absurdly justify using the power of the government, including the overt use of violence, to undercut imagined potential opposition.

In polite society, they are referred to as crazy people.

The belief that America needs a wealth tax is nothing more than another politically driven crazy idea.

Denis Kleinfeld is known as a strategic tax and wealth protection lawyer, widely published author and creative teacher.

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The belief that America needs a wealth tax is nothing more than another politically driven crazy idea.
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Monday, 28 January 2019 09:15 AM
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