Dem lawmakers call for income redistribution

[TroglocratsRdumb]

A group of progressive lawmakers have proposed a wealth tax on the richest households that reflects levels of inequality.

Democrat Representatives including Barbara Lee of California and Jamaal Bowman of New York last week introduced the Oppose Limitless Inequality Growth and Reverse Community Harms, or Oligarch, Act that would make the wealthiest pay more tax.

The legislation was devised with the support of the Patriotic Millionaires and other allied organizations.

"Inequality in the United States is worse in 2023 than it was during the Gilded Age," Lee said in a statement. "It is unacceptable that millions of hardworking people remain impoverished, while the top 0.1% hold over 20% of the nation's wealth."

Morris Pearl, chair of Patriotic Millionaires and a former BlackRock managing director, told MarketWatch the bill was unlikely to pass the Republican-controlled House of Representatives, but that "extreme wealth inequality" was now an "existential threat" to the US.

The group also want a 30% inspection rate on relevant households by the Internal Revenue Service to combat potential evasion.

MSN

www.msn.com

Comment:
The corrupt Democrat Party is pandering to their Loser Voter base again.
If income redistribution worked, then Marxist countries would be utopias.
Income redistribution is just stealing.
It always eventually enslaves the vital middle-class workers, and it doesn't lift the poor.
But it enriches and empowers the ruling Marxist elites, and the Marxist leaders live like royalty.

 

[The Sage of Main Street]

A group of progressive lawmakers have proposed a wealth tax on the richest households that reflects levels of inequality.

Democrat Representatives including Barbara Lee of California and Jamaal Bowman of New York last week introduced the Oppose Limitless Inequality Growth and Reverse Community Harms, or Oligarch, Act that would make the wealthiest pay more tax.

The legislation was devised with the support of the Patriotic Millionaires and other allied organizations.

"Inequality in the United States is worse in 2023 than it was during the Gilded Age," Lee said in a statement. "It is unacceptable that millions of hardworking people remain impoverished, while the top 0.1% hold over 20% of the nation's wealth."

Morris Pearl, chair of Patriotic Millionaires and a former BlackRock managing director, told MarketWatch the bill was unlikely to pass the Republican-controlled House of Representatives, but that "extreme wealth inequality" was now an "existential threat" to the US.

The group also want a 30% inspection rate on relevant households by the Internal Revenue Service to combat potential evasion.

MSN

www.msn.com

Comment:
The corrupt Democrat Party is pandering to their Loser Voter base again.
If income redistribution worked, then Marxist countries would be utopias.
Income redistribution is just stealing.
It always eventually enslaves the vital middle-class workers, and it doesn't lift the poor.
But it enriches and empowers the ruling Marxist elites, and the Marxist leaders live like royalty.

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Ending This Preppy Republic

Easy peasey. Tax away all inheritances over $100,000 and there won't be any need for any other taxes. A real American says, "If we have to do it on our own, so must the brats of the rich."

Without their Daddies setting them up halfway to the finish line, 99% of those born into the 1% would be losers. If they have a future like they have the present, this civilization is heading for the junkyard.