Jayapal and Warren Introduce Wealth Tax on Fortunes Over $50 Million

Pander Bear Award

Pander Bear Award

The Pander Bear of the week award goes jointly to Elizabeth Warren, Brandon Boyle, and Pramila Jayapal for their constitutionally questionable call for a “wealth tax on ultra-millionaires” and billionaires.

You can watch the cringiness below:

Elizabeth Warren Unveils the Ultra-Millionaire Tax

Elizabeth Warren Unveils the Ultra-Millionaire Tax: “It is time for a wealth tax in America”

Posted by Ben Shapiro on Tuesday, March 2, 2021

In case you weren’t able to get through the entire thing without vomiting or having a brain aneurysm, here are the high points:

  • Imposes a 2% tax on wealth over $50 million. Note the specific use of the term wealth rather than income. What this essentially means is that citizens will be required to declare the value of every asset they own, every year, and will be taxed on the value of those assets above 50 million dollars, every year. Yes, you read that right. You will be taxed over and over again, year after year on the same assets over $50 million assuming you still own them (if you no longer own them you will of course be taxed on the proceeds of the sale of said assets).
  • Billionaires will be taxed a “a little bit more”. The lack of specificity here is somewhat alarming.

The “best part” came when woke representative Jayapal claimed that “much of the wealth of white families was accumulated at the expense of black, brown and indigenous families from legalized slavery”. To make such a claim flies in the face of the actual facts surrounding slave ownership. At the height of slavery in 1860, the highest estimates put the number of American families that owned slaves at 7.4%. That’s ALL families, not just whites. The number of black-owned slaves during the same period is estimated to be in the neighborhood of 20,000. According to Junius Rodriguez, a Eureka College historian and author of ‘Slavery in the United States: A Social, Political, and Historical Encyclopedia’: “I’d imagine that the (20,000 figure) … is probably not that far off from being true,”. Pander on, Pander Bear.

There are few places on earth that have the kinds of opportunities that are available in the U.S. to everyone, where everyone has a fair shot at success and achieving the American dream. There is a reason our southern border is overrun with people trying to get in. There is a reason we have the most UHNWs, that is ultra-high-net worth individuals of any country. But the economy is not a zero-sum game and the false narrative being peddled by the left where wealth is a pie, and the only way for you to get more is to take some from someone else, is modus operandi for these charlatans and we need to continue to call them on it. Until people wake up and realize they are being fed lies and pandered to, they will continue to vote these leftists into office.

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