As the most reliable and balanced news aggregation service on the internet, DML News offers the following EDITORIAL published by WASHINGTONEXAMINER.COM:
Sen. Elizabeth Warren, D-Mass., is proposing a one-time tax on the wealth of the rich, at a rate as high as 3 percent. Sen. Bernie Sanders, I-Vt., is going much further, proposing a 77 percent death or inheritance tax.
The ideas of these two presidential aspirants are basically the same, merely imposed at different rates and at different times of life.
The article goes on to state the following:
They’re also both impractical and immoral ideas. Sanders is far worse on both counts. Both measures neglect what so many of today’s self-styled revolutionaries fail to grasp: The Constitution enshrines the rights of everyone, and that even includes the wealthy.
Sanders’ and Warren’s ideas are both extreme proposals that would unfairly double-tax income. Having already earned the money and paid a high progressive marginal tax rate on it — in some cases higher than 50 percent when state and local taxes (and corporate taxes, in the case of stock and dividend income) are included — Americans who earned more would be called upon to pay yet another tax on whatever they should have left over. Such double-taxation is imposed on literally no one else.
To get more information about this article, please visit WASHINGTONEXAMINER.COM. To weigh in, leave a comment below.
The post OpEd: Sanders’ death tax indulges the politics of envy and hatred appeared first on DML News.