Recently Senator Elizabeth Warren announced her new tax plan she would like to institute should we ever have the extreme misfortune of her occupying the Oval Office.
Her plan would call for a tax of 2% on wealth in excess of $50 million and a tax of 3% on wealth in excess of $1 billion.
It should be noted here that this is very different from income taxes. This is a tax on what you already have, not what you earn in any given year. This means that if one did nothing other than simply exist that one’s wealth would diminish over time eaten away by the government’s voracious appetite. By virtue of one simply having wealth and by a lack of virtue in the government, led by the covetous Lizzy Warren and her thieving cohorts, the fruits of one’s labors would waft away over time like the smoke from her teepee.