by M Dowling, Independent Sentinel:
Democrats want all your stuff. They aren’t only interested in your money to redistribute. They want to tax your unrealized wealth in paintings, cars, boats, homes, and so on. Under such a plan, they tax valuables each year. They tax the gains as if they were sold. Gov. Spanberger of Virginia plans to have such a tax on some items. Democrats like to say it’s only on the rich, but when the rich flee, they go to the next level of wealth—every time.
TRUTH LIVES on at https://sgtreport.tv/
Their latest scheme is to pass wealth or exit taxes. It seems unconstitutional to me, but I am no lawyer.
Democrats take money from those taxes and give it to donors or voting blocs. The recipients often kick some back or pledge their votes. Democrats ignore massive fraud in states like Minnesota, California, and others. We probably don’t have a revenue problem. It seems more like a corruption and spending problem with little or no oversight.
The Democrats always have some morality narrative to justify their taxes, such as it’s patriotic or you’re too rich and you’re taking it from someone more deserving.
Across the country, about ten [actually 12] states are looking into or have already passed an exit or wealth tax to combat revenue losses from residents fleeing their high taxes, writes Townhall. They are going to red states, which have lower taxes.
A wealth tax tallies up the value of your home, your cars, your furniture, your assets, your stocks, your bonds, your art, and there is a tax on that value,” Sandra Swirski, Founder & CEO of Integer, told The National News Desk.
Swirski said among the most prominent is California’s proposed “Billionaire Tax Act,” which would impose a one-time 5% tax on the total net worth of anyone worth over $1 billion living in the state. Which would impact at least 200 people.
The value of these assets, your net worth, in some cases, is very easy to calculate, such as stocks, bonds, and the like. In other cases, it’s really difficult to calculate,” said Swirski.
Another state, Washington, who just passed a 9.9% tax on incomes over $1 million. The bill’s passage came around the same time Starbucks CEO Howard Schultz, who has an estimated net worth of over $3 billion, announced his move to Florida.
Read More @ IndependentSentinel.com
