![\"\"](\"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2015\/08\/elizabeth-warren-native-american-indian.jpg\")
<\/a><\/p>\n<\/p>\n
Her plan is to confiscate something like 2% of the property of those she deems \u201cThe Rich.\u201d We aren\u2019t talking about 2% of income, she wants 2% of everything they have, including their underwear. Here are the details from Fox Business<\/b><\/a>:<\/p>\n Sen. Elizabeth Warren<\/a> plans to unveil\u00a0legislation on Monday that would tax<\/a>\u00a0the\u00a0net worth of the wealthiest Americans, a proposal aimed at reducing income inequality in the U.S. <\/b>The measure<\/a>\u00a0would impose a 2% annual tax on the net worth of U.S. households above $50 million and would add an additional 1% levy\u00a0on\u00a0households worth more than $1 billion. It’s nearly identical to the wealth tax that Warren introduced during her failed 2020 presidential campaign. <\/b><\/p>\n “A wealth tax is popular among voters on both sides for good reason: because they understand the system is rigged to benefit the wealthy and large corporations,” Warren, D-Mass., said in a statement. “As Congress develops additional plans to help our economy, the wealth tax should be at the top of the list to help pay for these plans because of the huge amounts of revenue it would generate.” <\/b><\/p>\n Warren estimates the\u00a0“Ultra-Millionaire Tax Act” would affect about 100,000 households in the U.S., or roughly 0.05% of the population, and would generate about $3 trillion in revenue over the next decade\u00a0based on estimates from the University of California, Berkeley economists Emmanuel Saez and Gabriel Zucman. <\/b><\/p>\n Actually, it won\u2019t generate a dime. If they were to try and actually implement this, you would see trillions of dollars flowing out of the United States, following the people who have all that money. In fact, they would probably ditch their citizenship. Or course, Comrade Fauxahontas has thought of that.<\/p>\n In an effort to prevent wealthy Americans from dodging the tax, the bill would create a 40% tax on net worth above $50 million for people who renounce their U.S. citizenship in order to avoid paying the fee and a 30% minimum audit rate for households subject to the tax. It would also provide the IRS with an additional $100 billion to help with enforcement. <\/b><\/p>\n So the lying bitch wants to create a communist totalitarian police state? Good luck with that! There are any number of problems with this stupid idea. To begin with, there are serious constitutional issues with it. Seizing people\u2019s property , and this is exactly what this \u201cWealth Tax\u201d is, runs afoul of the 5th<\/sup> Amendment.<\/p>\n No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation<\/i>. <\/b><\/p>\n I expect that Big Chief Sitting Bullshit will claim that her plan is covered under the 15th<\/sup> Amendment of the Constitution. Perhaps she might try actually reading it.<\/p>\n The Congress shall have power to lay and collect taxes on incomes<\/a>, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration. <\/b><\/p>\n The key word here is \u201cIncomes.\u201d What Lie-a-Watha is planning is taking 2% of people\u2019s property. This would be blown out of the sky by the courts. Of course, I fully expect this lying cow to pack the courts with people who will use the Constitution for toilet paper.<\/p>\n<\/p>\n<\/a><\/p>\n<\/a><\/p>\n