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August 09, 2020

You Tout Socialism For Others? Well Here It Is For You: Good And Hard!

Bernie, after you have spent your entire career spouting nonsense and supporting pretty much every crackpot leftist idea, you finally stumbled onto one that makes real (read: angry) conservatives smile.

I wholeheartedly support this bill!

Sen. Sanders proposes one-time tax that would cost Bezos $42.8 billion, Musk $27.5 billion

The “Make Billionaires Pay Act” would impose a one-time 60% tax on wealth gains made by billionaires between March 18, 2020, and Jan. 1, 2021. The funds would be used to pay for out-of-pocket health-care expenses for all Americans for a year. As of Aug. 5, the bill would tax $731 billion in wealth accumulated by 467 billionaires since March 18, according to a press release. If passed, the bill would tax billionaires on wealth accumulated through the end of the year, however.

From a rational public policy perspective, it is stupendously, catastrophically, wildly counter-productive. And as tax policy it is even worse. But I don't care. Stick it to our current crop of billionaires, whose wealth is sheltered to a large extent from the depredations of the Democrat party (and, sadly, many Republicans). It is so very easy for them to advocate spending other people's money, because even confiscatory taxes injure others far more than they. Tax Bezos' income at the highest marginal rate, and he is still left with an almost unimaginable amount of money. Tax a small business owner at the same rate and he must carefully budget and allocate and modify his spending to survive.

The schadenfreude if this ever manages to pass (of course it won't) would be delicious, and would absolutely last for more than four hours. Imagine the gnashing of teeth and rending of garments among the Silicon Valley elite, or the sneaky old bastard in Omaha, or Soros!

posted by CBD at 12:00 PM

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Well Here It Is For You: Good And Hard! Bernie, after you have spent your entire career spouting nonsense and supporting pretty much every crackpot leftist idea, you finally stumbled onto one that makes real (read: angry) conservatives smile. I wholeheartedly support this bill! Sen. Sanders proposes one-time tax that would cost Bezos $42.8 billion, Musk $27.5 billion The “Make Billionaires Pay Act” would impose a one-time 60% tax on wealth gains made by billionaires between March 18, 2020, and Jan. 1, 2021. The funds would be used to pay for out-of-pocket health-care expenses for all Americans for a year. As of Aug. 5, the bill would tax $731 billion in wealth accumulated by 467 billionaires since March 18, according to a press release. If passed, the bill would tax billionaires on wealth accumulated through the end of the year, however. From a rational public policy perspective, it is stupendously, catastrophically, wildly counter-productive. And as tax policy it is even worse. But I don't care. Stick it to our current crop of billionaires, whose wealth is sheltered to a large extent from the depredations of the Democrat party (and, sadly, many Republicans). It is so very easy for them to advocate spending other people's money, because even confiscatory taxes injure others far more than they. Tax Bezos' income at the highest marginal rate, and he is still left with an almost unimaginable amount of money. Tax a small business owner at the same rate and he must carefully budget and allocate and modify his spending to survive. The schadenfreude if this ever manages to pass (of course it won't) would be delicious, and would absolutely last for more than four hours. Imagine the gnashing of teeth and rending of garments among the Silicon Valley elite, or the sneaky old bastard in Omaha, or Soros! posted by CBD at 12:00 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments Thomas Paine: "Jennifer Granholm made over a million dollars on t ..." Defenestratus: "about 15 minutes Posted by: Ciampino - Singing qu ..." SMOD: "An Auburn University study says every single regul ..." pudinhead: "Canada first ... as an invasion dress rehersal. ..." 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