Proverbs 13:11 – “Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase”
No Billionaires At All! Not American Ones At Least
Nowadays, anyone that is a billionaire maybe out of luck! No billionaires at all, not American ones at least.
That’s the newly proclaimed policy of Bernie Sanders.
Many politicians are perfectly comfortable with the policies being followed by President Biden’s handlers.
Bernie Sanders’s choice of $999 million as the permissible level of wealth and no more has many talking.
There are talks to limit the amount of money one can make here in America.
The land of opportunity no longer exists, at least here anyway.
Of course, once such a wealth confiscation is announced, billionaires will depart for friendlier shores.
No one wants to lose money right?
At the end of the day entrepreneurs will be creating jobs and wealth elsewhere.
Conclusion
A wealth tax will not work nor does anyone welcome it.
To put limits on someone’s ability to make a billion dollars is wrong!
So basically, once you get to $999 million the government should confiscate all the rest?
Placing a progressive tax policy will only drive away business.
A new bill is being introduced called For the 99.5 Percent Act .
Make sure you read it in its entirety. I am sure you will question the real motive!?
These so called “billionaires” will just start hiding their wealth in their corporations.
They won’t own anything, but they will control everything that their corporations own.
When the government debt increases, the citizen’s wealth is lowered.
Government control and regulation are the leading causes of dysfunction in all sectors of society.
DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.
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How about anything over $1000 you just hand to the government?