At MarketWatch Brent Arends asks a question that I presume he knows is rhetorical:
Americans, when are we going to get our heads back where the sun shines and implement a wealth tax?
The answer is easy: never. Why do think the Congress has so many rich people in it? It’s not for wealth or power. They could promote their own wealth and power more effectively outside the Congress than in it. Public service? It is to laugh. The Congress stopped being public servants decades (or generations) ago.
It’s to ensure that the Congress does not impose a wealth tax.
It is also why there is so much effort to get rid of the estate tax.
Steve
I understand why capitalism works and socialism doesn’t. but I am troubled by the ”snowball effect” which creates vast fortunes for a few ‘ and complete hopelessness for the many. I don’t know about a “wealth tax”, they would find a way to hide it. For myself, all I can recommend to my offspring is to do without. Tun out the lights, turn the heat down to 33 degrees “don”t bust the pipes”. Eat only cheap carbs, walk, sell the car, use soup kitchens, keep an eye on garbage cans back of groceries and convenience stores, they often throw away food that is outdated but still good. Be nice to relatives, you may need to live in their basement or tool shed.
Bury cans of food with ring tops when no one sees you, you may need this more than you think.
Always keep an eye out for the cops, they’ve been instructed to remove your kind to the homeless area. These places are dangerous. Rapists, crazies, drug addicts.
No place to shower or wash your clothes, brush your teeth. Soon you will look like the rest of them, and be treated as such.
Once you have been labeled there is no going back.
It is nothing like that Will Smith movie. That is so phony it’s depressing.