We’ve said it before and we’ll say it again: while some reporters were waxing poetically about the diverse skin tones and dress colors of the new freshman class in Congress, we were a little more concerned that democratic socialism and anti-Semitism were creeping into the House chamber. Yes, it’s quite the class.
It seems Rep. Ilhan Omar — who has gone on record supporting the Nicolas Maduro regime in Venezuela, where people are starving and being imprisoned under his rule — would like to bring some of Maduro’s ideas to the United States and turn a rich country into a nation where everyone is equally poor.
We need a #WealthTax:
✅Pay Ratio Corporate Tax
✅2% on those worth > $50 million
✅3% on those worth > $1 billion
✅#MarginalTaxRate: At least 70% on income > $10 millionMost Americans support this to reduce the worst wealth inequality the world has ever seen.
— Ilhan Omar (@IlhanMN) February 4, 2019
And this will pay for … what? Like 20 minutes of Medicare for all? You can’t tax a country into prosperity, but you sure can punish those rich people who create jobs so others can have their chance at the American dream.
How to get rich Americans to move to Qatar, Saudi Arabia, UAE, Bahamas, Bahrain, Belize, Switzerland, and Costa Rica in a single tweet. https://t.co/63cISrHNed
— Harold Stickeehands (@StickeeNotes) February 4, 2019
As much I'd love to destroy the US economy and inspire a mass migration of the rich from the US, I'm going to have to pass.
— Harold Stickeehands (@StickeeNotes) February 4, 2019
Oh look, a “legislator” who wants to use the IRS to punish a small group of Americans unconstitutionally…
Minnesota voters are stupid.— Gregimus (@murgatr0id) February 4, 2019
What we actually need is competent people in Government who understand accountability, budgeting and frugality.
Our nation will collect more in taxes in 2019 than it ever has before, yet SOMEHOW, we will go further in debt. We have a SPENDING problem, not a revenue problem
— BonkPolitics (@BonkPolitics) February 4, 2019
— Dodd (@Amuk3) February 4, 2019
No. MOST Americans do NOT support this you thief.
— Mrs.White (@BlondeNY) February 4, 2019
No we don't.
— Michael Parks (@emoblues) February 4, 2019
no. No. NO.
— pouncing and seizing Brad (@bradcundiff) February 4, 2019
No we don’t. Your statistics are fake.
— Hank the Tank (@hankito) February 4, 2019
I think “most Americans” want less government.
— TER (@TER_ELY) February 4, 2019
WE DO! ??
— Keith Greene (@RealKeithGreene) February 4, 2019
Less government lower taxes (without the excess paperwork) and performance driven model to motivate people to want to work and create opportunities! Novel idea but the vision our founding fathers had.
— Greg (@tradetime00) February 4, 2019
What would be the incentive for a rich person to earn over $10 million if they're taxed at 70%?
Don't the rich create jobs? Don't they have expenses? Family? Why would they bother?
Somewhere down the line everyone will be hurt by this.
— Steve Latorre (@thestevelatorre) February 4, 2019
Or …millionaires could take their money, companies, products, and essentially their jobs elsewhere, raising unemployment in the U.S., adding to the rising costs of goods, contributing to compounding inflation, and cascading this country into destitution. #Economics
— Teuf el-Hünden (@Son_of_Cthulu) February 4, 2019
Where do you think these millionaires are going to go that they can still make $10m in income without getting taxed and still run their business in the US?
— Eye Tyrant (@SeebooTheGoblin) February 4, 2019
And proposing a wealth tax like this is beyond absurd, the majority of billionaires wealth are in their company’s and they don’t have 3% in liquid assets to pay the tax, this isnt just a “oh well I didn’t know that silly me” you don’t get to make those errors when youre in office
— Huge Merk (@TheHugeMerk) February 4, 2019
Just take everything from the top 10 richest in US, liquidate it, take that money and you can fund the government for.. 2-3 months? Then what? ?♂️
— Rob (@rob123454321) February 4, 2019
“Worst wealth inequality the world has ever seen.” pic.twitter.com/YVkVr0q4iW
— Trey Terry (@treyterry) February 4, 2019
If you only care about wealth inequality you’re purely driven by jealousy, poverty is what matters and if your solution to wealth inequality is just to punish to rich by bringing them down you’re a tyrant, the Soviet Union had great wealth equality bc everyone was poor
— Huge Merk (@TheHugeMerk) February 4, 2019
All this talk about "income inequality:"
All I hear are ways to make people poorer and take money for government projects.
I hear nothing about how to make people more wealthy.*Oh* right. Congressional leftists don't provide jobs & can't.
— Tom Toth (@TomToth3) February 4, 2019
Worst wealths inequality? Yet these same people have a higher standard of living and basic luxuries that kings and rulers of countries just a couple of centuries ago couldn’t even comprehend.
— Christopher Sopiarz (@Sopiarz634) February 4, 2019
These people were toiling on fields with backbreaking work then are now sitting on toilets with indoor plumbing while scrolling through cat videos.
— Christopher Sopiarz (@Sopiarz634) February 4, 2019
The money will go to the government and not the people’s pockets . It will just be wasted on government overspending and will do nothing to change wealth inequality.
— stuart levy (@stuartlevy14) February 4, 2019
You’re wrong, it will improve wealth inequality, by making everyone poor. See Venezuela, and even Somalia, where the Representative is from.
— Alex Ward (@poolboy88) February 4, 2019
This is some next level fantasy stuff right here. ?
— Jeremy R (@JeremyRFLA) February 4, 2019
This is harmful and dangerous to a culture long term. This tactic has been used by countless countries in the past. Make an enemy out of a minority to get the majority to go along. You grow income by growing opportunity, not by taking income away from others.
— Skipp Phipps (@Skippphipps) February 4, 2019
Before you & others in Congress give your opinions on what "we" need, please ensure that your suggestions are constitutional…..
— Lynda Gage (@Lynda_Gage) February 4, 2019
Sen. Warren also proposed a wealth tax and was quickly schooled on its constitutionality. But what if the wealthy were just more generous?
If I was making over $50 million a year, I would happily pay an extra 2% in taxes because I would realize how blessed I am.
— Frances (@fullmoonheart) February 4, 2019
Say you own $50 million in real estate, that generates you a 8% return or $4 million dollar, After paying for upgrades, property tax, income tax, salaries of employees. If your left with $500,000 you had s good year, now comes a $1 million dollar wealth tax bill.
— WallSt (@WallStXyz) February 4, 2019
That’s one of the thing that’s irritates me about many people in congress and the general population, they operate in a bubble, no one thinks about the consequences of their actions or believe people won’t change their behavior /1
— WallSt (@WallStXyz) February 4, 2019
Oh good. You'd take most of the productive money out of the economy and force people to sell off a portion of the productive assets. Lovely.
— Joanne von Spanien (@NomadJoanne) February 4, 2019
When we can barely squeeze out 1.5% growth like Europe and our children have inherited a poorer world I'll blame you.
— Joanne von Spanien (@NomadJoanne) February 4, 2019
Guys we need a kickstarter campaign or something to buy Democrats introductory macroeconomics textbooks. This is getting out of hand
— dragon energy industry lobbyist (@Swags_McGee_96) February 4, 2019
Related:
Michael Bloomberg compares Elizabeth Warren's wealth tax to Venezuela, says Kamala Harris' Medicare-for-all plan will 'bankrupt us' https://t.co/9qkBXmOppu
— Twitchy Team (@TwitchyTeam) January 29, 2019