since9
Campaign Veteran
In this news article by Forbes, we learn the wealthiest of the French are calling for a 3% increase in income tax across the board, which they'd be happy to pay. The Germans, meanwhile, are calling for a 5% tax on all capital wealth above €500,000 for the first two years, followed by 1% or more thereafter.
By the way, the Germans calling for this aren't the wealthy. They're the upper middle-class Germans who'd like to redistribute the wealth from those who are truly wealthy in modern-day Robin Hood style.
The two plans are vastly different in their effects, as the French plan only applies to income, while the German plan applies to capital wealth, which includes all income-producing financial holdings, whether it's in the bank as cash or is invested in stocks, bonds, or bills, or real estate, or businesses. It would exclude privately-owned real estate that's used as a residence instead of in the production of income.
The problem is, this opens the door to private real estate being included in the future, much as gun registration tends to precede gun confiscation.
Furthermore, it left unchecked, the tide of this mentality easily spills over into other countries. The very idea has already been kicked around mightily in Congress for years by closet socialists masquerading as liberals, and for decades by liberal teachers touting Robin Hood's actions of stealing from the rich and giving to the poor as something noble. My take is that if they've accumulated their wealth by means of honest gain, then it's theirs to keep, and there's nothing noble about trying to take it away from them, either by armed force or by means of spurious government legislation.
By the way, the Germans calling for this aren't the wealthy. They're the upper middle-class Germans who'd like to redistribute the wealth from those who are truly wealthy in modern-day Robin Hood style.
The two plans are vastly different in their effects, as the French plan only applies to income, while the German plan applies to capital wealth, which includes all income-producing financial holdings, whether it's in the bank as cash or is invested in stocks, bonds, or bills, or real estate, or businesses. It would exclude privately-owned real estate that's used as a residence instead of in the production of income.
The problem is, this opens the door to private real estate being included in the future, much as gun registration tends to precede gun confiscation.
Furthermore, it left unchecked, the tide of this mentality easily spills over into other countries. The very idea has already been kicked around mightily in Congress for years by closet socialists masquerading as liberals, and for decades by liberal teachers touting Robin Hood's actions of stealing from the rich and giving to the poor as something noble. My take is that if they've accumulated their wealth by means of honest gain, then it's theirs to keep, and there's nothing noble about trying to take it away from them, either by armed force or by means of spurious government legislation.