Good day all. This is a couple of weeks old, but I’ve been rather busy. Our old “Friend,” Comrade Bernie Sanders has put forward a bill to basically seize the assets of billionaires.
The bill, which is going no way fast, would force billionaires to hand over 60% of their assets as a one time confiscation tax. Here are the details from CNBC:
Top tech leaders and other billionaires would be forced to hand over billions of dollars in wealth they’ve gained during the coronavirus pandemic under a new bill introduced by Sens. Bernie Sanders, I-Vt., Ed Markey, D-Mass., and Kirsten Gillibrand, D-N.Y.
Oh look! It’s the three biggest wastes of oxygen in the United States Senate. Two of these three have never spent any time in the “Dreaded Private Sector, and the third, Kirsten Gillibrand, was a lawyer, so also generally useless.
The “Make Billionaires Pay Act” would impose a one-time 60% tax on wealth gains made by billionaires between March 18, 2020, and Jan. 1, 2021. The funds would be used to pay for out-of-pocket health-care expenses for all Americans for a year. As of Aug. 5, the bill would tax $731 billion in wealth accumulated by 467 billionaires since March 18, according to a press release. If passed, the bill would tax billionaires on wealth accumulated through the end of the year, however.
First, it’s not going to pass. I’m not sure even Pelosi’s House of Representatives would do anything as stupid as consider it. Yes, you will get other useless idiots, such as Alexandria Occasional-Cortex to vote for it, however, it will be DOA in the Senate and President Trump will hit it with be biggest veto hammer he can find.
Second, the billionaires don’t actually have that kind of money. They generally have very little cash on hand. Most of this “wealth” is on paper only. In order to convert it into cash, they would have to sell off assets, and doing that would crash the stock prices of the companies they founded and run.
The third reason is easy. These rich fools tend to donate to all the progressive causes. If these same progressives decide to ruin them for their communist utopia, they will take action. At the very least, they will all become conservative republicans overnight. Or they might just leave the country, take their assets with them and surrender their citizenship.
Under the bill, tech and other business titans who have seen their wealth shoot up during the pandemic would take huge charges. Amazon and Walmart, for example, have both seen their stocks grow as Americans increasingly relied on their services during stay-at-home orders during the pandemic.
So, the very actions of the Progressive Liberal Democratic CommuNazis, locking people up in their homes and driving small businesses into bankruptcy, are why they want to steal the assets of the billionaires? Do they see the obvious dichotomy in this? Oh who am I kidding? Of course they don’t.
As to why these fools came up with this idiocy, it’s fairly simple. Bernie Sanders is a communist and wants to recreate the Soviet Union in the United States. Ed “Get your Ice Cream here!” Markey is in a tough primary fight with a real communist and could lose, thanks to all the transient college and university students in the People’s Democratik Republik of Taxachusetts. Gillibrand is just stupid and has no common sense at all. Nope, this is just election year “Oh look! See what a nice Marxist I am!” crap and will never see the light of day.
Thatisall
(1 votes, average: 5.00 out of 5)
Loading...
~The Angry Webmaster~
