[raloxk]

"As Frank acknowledged, this whole approach smacks "to some extent (of) the New Deal philosophy.""

FDR never taxed wealth. This is Marxism pur and simple.


When you tax something, you get less of it. We will get less wealth if we tax wealth.

you think the savings rate is bad now. Just wait till people, who have low incomes but high wealth, face a tax on their wealth. I will personally move my wealth out of the country if it the principal is going ot be taxed.

[Gunslingr3]

FDR never taxed wealth.

I take it you never heard of FDR's 'excess profits' tax.