Like most socialists, Sen. Elizabeth Warren (D-Mass.) is enamored with class warfare and wealth redistribution. Her political career has been predicated on vilifying productive Americans while nurturing a sense of victimhood among the unproductive.
Although Warren’s socialist streak probably prevented her from becoming her party’s 2020 presidential nominee, she’s not backing down. In fact, she’s doubling down.
This is deceitful.
Second, since when does the federal government create opportunity? Short answer: Never. That’s part and parcel of the private sector. Unless, of course, you’re a socialist.
In Warren’s eyes, the government’s modus operandi isn’t to create a level playing field in which there’s equal opportunity for all. Rather, the government should determine equal outcomes.
And to ensure that the government has the capacity to achieve equal outcomes, Warren wants to empower everyone’s least-favorite government department: The Internal Revenue Service.
- “A $100 billion investment to rebuild and strengthen the IRS, ensuring the agency has the resources to hire and train additional personnel, modernize IT systems, and implement the new asset valuation, reporting, and enforcement requirements for the Ultra-Millionaire Tax”
- “A 30% minimum audit rate for taxpayers subject to the Ultra-Millionaire Tax”
- “A 40% ‘exit tax’ on the net worth above $50 million of any U.S. citizen who renounces their citizenship in order to escape paying their fair share in taxes”
In reality, Warren’s wealth tax is the next logical step in the road to socialism.
The United States also incorporates wealth redistribution on a massive scale. From free health care to free groceries to free housing, the federal government is well on its way to becoming the ultra-nanny state of Warren’s dreams.
Warren would like you to believe the wealthy don’t pay their fair share and that those on the lower rungs of the economic ladder have little shot at achieving the American dream. Neither of those is true.
The United States has been the land of opportunity since its founding. However, this isn’t destined to remain the case.
Warren’s odious wealth tax, if implemented, would undermine Americans’ freedom while putting the United States further down the dark road to socialism.