However sweet this would be for the rich Dems to pay such a steep price……. Praying that it doesn’t happen as that means another 4 years under this demented regime.
Here's the problem with this idea. It's never enough. 25% becomes 30% in a few years. Then the threshold drops. $50 mm in a couple of years then $25. Soon it's down to $5 or $10. I think once you violate concept of -confiscation of wealth, you've started down a slippery slope that leads to the middle class-that's where the real money is. I live in a neighborhood of 350 or so homes. All of us who've been here 3-5 years are sitting on a couple of hundred thousand in unrealized gains. multiply that across the country and it trillions. They want it all.
You are right, of course, and they will try it on for size, but reality is that America has a strong constitution, a sensible Supreme Court, and citizens who still have the right to bear arms. Passing a 25% tax on unrealized gains will spell the end of Democratic party support for a long time, and the punishment it could inflict on the Davos crowd would be too much to hope for.
However sweet this would be for the rich Dems to pay such a steep price……. Praying that it doesn’t happen as that means another 4 years under this demented regime.
Here's the problem with this idea. It's never enough. 25% becomes 30% in a few years. Then the threshold drops. $50 mm in a couple of years then $25. Soon it's down to $5 or $10. I think once you violate concept of -confiscation of wealth, you've started down a slippery slope that leads to the middle class-that's where the real money is. I live in a neighborhood of 350 or so homes. All of us who've been here 3-5 years are sitting on a couple of hundred thousand in unrealized gains. multiply that across the country and it trillions. They want it all.
You are right, of course, and they will try it on for size, but reality is that America has a strong constitution, a sensible Supreme Court, and citizens who still have the right to bear arms. Passing a 25% tax on unrealized gains will spell the end of Democratic party support for a long time, and the punishment it could inflict on the Davos crowd would be too much to hope for.
It's a great idea, and we can only wish it so... but I would guess that the billionaire class has already moved their assets offshore.
And they have the smartest (sneakiest) lawyers and accountants to help them.
Wonderful idea!