Another Democrat wants a wealth tax.
This time, former Representative Beto O’Rourke (D-TX), the guy who lost a big senate race and decided to run for president after repeatedly saying he wouldn’t, has proposed a wealth tax to ensure the country doesn’t have any “kings and queens”:
“Fundamental to this experiment to America and our democracy is ensuring we don’t have princes and princesses, kings and queens, a concentration of wealth and power and privilege. That is exactly what we have in this country right now.”
Of course, in typical Beto fashion, he was short of the details, refraining from giving specifics regarding tax rates and income levels (SEE: Random Friday: Trump attacks Fed, timing the market, Ted Koppel lambasts press).
But he does join the chorus of Democrats who favor higher taxes on the rich. For example, Senator Elizabeth Warren (D-MA) wants a wealth tax and Senator Bernie Sanders (I-VT) wants a higher estate tax.
It’s too bad they haven’t studied the data, otherwise they’d know that the wealthy already pay their fair share (SEE: THANKS: Top 1% paid as much in federal income taxes as bottom 95%).
Unfortunately, facts don’t win elections anymore. In fact, according to the left, it is more important to be morally right than to be factually correct!
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