If you ever wished you could be counted among billionaires, your wish might come true soon if the socialists get their way.Of course, it’s not that you’ll have a billion-dollar net worth, but rather you’ll be subject to the same wealth tax that progressives say they want to foist onto billionaires.What Russian revolutionary Leon Trotsky said of war applies to the wealth tax: you may not care about it, but it cares about you.
Recently, California Democrat Rep.Ro Khanna published his own personal manifesto, "Why I Support a Billionaire Wealth Tax." But he quickly pulled the mask back even further, revealing the true targets of his tax scheme.Khanna started arguing to tax billionaires, then halfway through the manifesto decided it should be centimillionaires — $100-million net worth.
By the end, he was going after for $50-million-aires.At that rate, give it a year or two, and the wealth tax will be $50 thousand, not $50 million.NEWSOM BEGS CALIFORNIANS TO VOTE 'NO' ON BILLIONAIRE'S TAX IN FACE OF MASS EXODUS, PITCHES NATIONWIDE TAX HIKEThis wouldn’t be the first time progressives pulled this kind of bait and switch — it’s what they did with the income tax.
Billionaires are the cheese in the mousetrap, a marketing prop to pass the tax before going after the real target.Once the tax is in place, the communists can get to work knocking zeros off the threshold until it hits pretty much anybody with a job or savings or a home.New York City Mayor Zohran Mamdani is one of many politicians pushing a wealth tax.
(Anna Connors/Pool via REUTERS)This just happened in New York.Comrade Zohran Mamdani, the Democratic Socialist mayor, campaigned on enacting new taxes for billionaires, but he's already pushing tax hikes on millionaires.Again, this is nothing new.
It’s the same play progressives ran with the income tax.It was just a tax on the rich, they promised at the time — for annual incomes equivalent to $15 million today.
Back in 1908, Democrat nominee Will...