Sanders Wants to Decide How Much Wealth You Own

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The United States – Senator Bernie Sanders (D-VT) wants to decide how much wealth you are allowed to own.

Remember when Sanders came to town this month? He promised a lot of “free” stuff for “everyone.” Well, the socialist presidential candidate (one of many) just released his plan to pay for it – a wealth tax.

That means the value of every single thing people in this bracket own will be taxed year, after year.

Sanders managed to one-up Senator Elizabeth Warren (D-MA) who released her wealth tax plan, previously. What we mean is, Sanders plans to steal even more money than Warren.

Sanders’ wealth tax breaks down like this (Fox Business):

• 1 percent on married couples with a net worth above $32 million (meaning a couple worth $32.5 million would pay $5,000 annually in taxes) 
• 2 percent on those worth $50 million to $250 million
• 3 percent on $250 million to $500 million
• 4 percent on $500 million to $1 billion 
• 5 percent on $1 billion to $2.5 billion 
• 6 percent from $2.5 billion to $5 billion 
• 7 percent from $5 billion to $10 billion 
• 8 percent on wealth over $10 billion 
• For individuals, all of the brackets would be cut in half

What is the goal of a wealth tax? As we hinted in the title, it is a way for the government to decide how much wealth any individual owns.

Several problems exist with a wealth tax, including the likelihood it is unconstitutional and a threat to innovation and the economy.

Sanders and his fellow socialists have been crying about income inequality in the United States for years. Sanders claims this tax will cut the wealth of billionaires in the U.S. in half in fifteen years.

It just might, but more likely due to a mass exodus of the wealthy. France finally did away with their wealth tax after approximately 42,000 millionaires left the country. Wealth taxes do not work.

Of course, Sanders has a foolproof plan for those folks. He plans to add an “exit tax” on Americans who choose to leave the country. Those who leave will be taxed 40 percent on net assets under $1 billion and 60 percent on anything over $1 billion.

Sanders will not stop at taxing the rich either. He admits that taxes will also increase on the middle class to pay for his socialist programs. They have to.

The wealth tax proposed by Sanders is estimated (if it works) to bring in $4.35 trillion over a decade. That is barely a dent in the at least $25 trillion in costs for Sanders’ “Medicare for All” plan over the same period.

Bottom line, Sanders wants to rob people to build his socialist empire, because he knows better than people how to spend their money.

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