RUSH: The political campaign rolls on, the Democrats are still seeking the presidential nomination. They’re still offering different plans, and they’re going wacko. You know, one of the bad things about all this is that it is limiting the coverage the Democrats are getting.
They’re basically out there campaigning, and they’re doing it with little events and rallies that are not very highly well attended, but they’re still doing them and they’re getting their message out, and there isn’t any focus on any of it because everybody’s so occupied on trying to impeach Trump or make sure the planet doesn’t get destroyed in 10 years, taking everybody with it.
Bernie Sanders has decided, after Elizabeth Warren proposed one, to submit his own wealth tax plan. Bernie Sanders essentially thinks that billionaires should not exist, and he wants the government to take action via policy to eliminate the existence of billionaires. It just isn’t fair. And so with Elizabeth Warren and Bernie Sanders now in a competition for the Democrat nomination, the bidding war for private property has begun, folks.
This is called confiscation. What the Democrat Party, what Bernie Sanders, Elizabeth Warren and all of the others are really talking about is the seizure of private property. If they don’t think there should be billionaires, they’re gonna take money away. They’re seizing property. They are proposing seizing the property of wealthy people. These funds have already been taxed. But once is never enough for the Democrats.
The confiscation, it appeals to Democrat voters who are jealous and envious. This is a trick the Democrats have used for I don’t know how many years. They convince their voters to vote for them because they’re gonna punish successful people. They’re gonna bring pain, supposedly, to rich people. The average Democrat voter is not gonna see his life improved. It doesn’t happen. The Democrat policies do not promote enhanced standard of living, by design.
The Democrats need people dependent. The Democrats need people in the middle class and poor. Democrats need as many people as they can get really, truly uneducated about things that matter. So Democrat policies, it’s impossible. If you totally rely on Democrats for prosperity, you won’t ever see any.
Meanwhile, other people who are not relying on Democrats are gonna succeed to one degree or another, some wildly, some will become millionaires, billionaires. Democrats run around saying I’m gonna punish them for you and the average Democrat voter will go, “Yeah! Stick it to ’em! Stick it to ’em! They don’t share it. There is no trickle-down.” Their owns live don’t improve an iota, but they are made to feel satisfied by the Democrats promising to inflict pain on the rich. That’s the emotional appeal.
So that’s Crazy Bernie and Elizabeth Warren now promising to basically eliminate billionaires. Elizabeth Warren came along with her proposal. Bernie has now tried to outdo her with an even tougher wealth tax proposal. He unveiled his tax on wealth today as he aims to cut income inequality and fund his massive social programs.
His proposal follows a similar plan from Fauxcahontas, who has made a wealth tax a centerpiece of her campaign, but the measure from Crazy Bernie, who has long railed against an economic system that he says favors corporations and the rich, would tax the richest Americans’ assets more heavily than Fauxcahontas’ would.
Sanders campaign said that the levy, the tax, would raise an estimated $4.35 trillion over the next decade. What does this presume? You have these rich people out there, and here comes Crazy Bernie, and he announces that he’s gonna have a massive wealth tax. That he is essentially gonna confiscate whatever percentage of what they’ve got. And what are they gonna do?
Well, I guess they’re just gonna sit there and let him take it. So Crazy Bernie thinks they’re gonna fork over a grand total of $4.35 trillion in 10 years simply because he’s got a new wealth tax proposal. I have a little hint for you. This is not how the rich operate.
Democrat A comes along and announces massive tax increase on rich person B. Rich person B doesn’t just sit there like a stuck pig and say, “Okay. Here it is. Take it.” Rich person B tries to figure out a way to keep Crazy Bernie from taking it from him.
That’s why the Democrats’ massive taxes never raise the amount of money they promise, because people just don’t sit there and let it happen. They find ways to shelter it, using the law, by the way, and Crazy Bernie knows this.
These proposals are nothing more than to stoke and fuel the envy of average Democrat voters. They’re never gonna get $4.35 trillion from these people. These people are too smart. They’re not going to give it up. They’ll spend it on their own, maybe, but they’re not gonna let Crazy Bernie or Elizabeth Warren come in and take it. It ain’t going to happen.
I’ve got the tax tables Crazy Bernie has announced for married couples. A 1% tax on net worth over $32 million. A 2% tax on net worth between $50 and 250 million. A 3% tax on net worth between $250 and 500 million and so on. It goes up. The maximum is an 8% tax on a net worth above $10 billion. Warren’s plan would slap a 2% tax on a net worth of $50 million. So Crazie Bernie has doubled down and tripled down on her.
None of this is ever going to really happen because these people are not gonna sit there and let this money be taken from them. That’s not how they got it in the first place. So it’s pie in the sky nothing designed only to fuel class envy, rage, and hatred among average Democrat voters.
Now, this does not mean Crazy Bernie wouldn’t like to do it. Don’t missunderstand. I think he would, but it isn’t gonna happen. These people don’t just sit there and let government come along and just take it without a fight, without some kind of opposition, without some kind of sheltering.