Democrats want to tax “wealth”, meaning possessions. This includes your money in the bank and investments – may be even your home and car to pay for their wild spending schemes. Elizabeth Warren is spearheading this effort with the rest of the pack right on her heels. Wow, a new source of tax revenue. or is it? When Democrats wanted a progressive income tax (tax the high earners more than the lower income earners in the search for more tax revenue, they were restricted by the Constitution. They had to get the 16th amendment passed because the Constitution requires uniformity throughout the United States. Thus everyone would, before the 16th, have been taxed at the same rate.
So now, before the Democrats put their hand in your pocket, car, house, bank and investment accounts – remember you probably have an IRA or a 403 account with your employer, you might want to loudly object. If they choose to target the wealthy only, the Democrats violate Article One, Section 8 of the Constitution. If they ignore Article One, Section 8 and selectively target only the wealthy, they are also in violation of the Fourth Amendment. The Fourth Amendment prevents the outright seizure of your personal property by the government.
So beware Warren and her cohorts. They are looking for every dime they can grab if elected. There is not enough available tax revenue from all considered sources in this country to pay for the wild grandiose spending plans of these Democrats. If you vote them in, they will likely tax all equally – don’t think that this broad taxation will be restricted to the wealthy.