“When (Democrats) once get the habit of helping themselves to the property of others, they are not easily cured of it.”
~ New York Times
Will it ever end?
Now that certain high-profile progressive Democratic presidential candidates have been calling for a “wealth tax” -- namely Bernie Sanders and Elizabeth Warren -- it serves as additional confirmation that, as much as the Democrats take, IT'S NEVER ENOUGH!!!! This cockamamie idea to tax what people have leftover AFTER HAVING BEEN PREVIOUSLY TAXED is as wrong as the Death Tax.
One would think that people who have realized the American Dream and paid their so-called “fair share” of taxes throughout their lifetimes, what they have left would be THEIRS TO KEEP to do with as they please, right -- like bequeath it to their loved ones, perhaps? NOT! Somehow, they have it in their heads that it’s THEIR money. While the article may be specific to the People's Democratic Socialist Republic of Maryland, it's essentially the general mindset that is pervasive throughout the Democratic Party.
(click on image to enlarge)
(link to article referenced in above letter)
It wasn't this way forever.
After a short search looking for the debates about the income tax when it was being considered, this article was discovered;
>> the bill's Democratic floor manager, Sen. John Sharp Williams, tried to beat back the insurgency. “No honest man can make war upon great fortunes per se,” he insisted. “The Democratic Party never has done it; and when the Democratic Party begins to do it, it will cease to be the Democratic Party and become the socialistic party of the United States; or better expressed, the communistic party, or quasi-communistic party, of the United States.”
… Indeed, The New York Times had succinctly voiced its objections some four years earlier when the 16th Amendment first made its way to the states. “When men once get the habit of helping themselves to the property of others, they are not easily cured of it,” the paper warned. <<
Sadly, it is glaringly apparent these prophecies have come to fruition - and in spades!
And now there are some in Congress who want to tax UN-REALIZED capital gains every year. Imagine if this law was already in place and tens of thousands of taxpayers had paid taxes on tens --or even hundreds-- of billions on unrealized capital gains that were on paper from the long bull market run-up. But now, with the coronavirus-related crash, many of them have retreated while others have become unrealized capital LOSSES? Do you think the government would REFUND the taxes paid PLUS INTEREST? Of course not. As always, Democrats say that they are only going after the wealthy but, as history has proven over and over again, once they get a new tax in place, they widen the net by lowering the threshold and increase the rates.
And now there are some in Congress who want to tax UN-REALIZED capital gains every year. Imagine if this law was already in place and tens of thousands of taxpayers had paid taxes on tens --or even hundreds-- of billions on unrealized capital gains that were on paper from the long bull market run-up. But now, with the coronavirus-related crash, many of them have retreated while others have become unrealized capital LOSSES? Do you think the government would REFUND the taxes paid PLUS INTEREST? Of course not. As always, Democrats say that they are only going after the wealthy but, as history has proven over and over again, once they get a new tax in place, they widen the net by lowering the threshold and increase the rates.
