Confiscatory taxation is a hallmark of the Marxist method for reducing a nation to dependency on a dictatorial government!
“Confiscatory taxation is a hallmark of the Marxist method for reducing a nation to dependency on a dictatorial government!”
True. The first step here is raising the income tax rate on the people defined as “wealthy” in the name of fairness. When that revenue is insufficient to satisfy the desire to spend more, the next step will be levies on wealth. Warren Buffett may not live to see it but the ultimate goal of the Marxists he supports is to take his wealth. If Obama and the Democrats retain power, I can see a day coming when the wealthy supporting and opposing Obama are told they have an unfair share of the nation’s wealth. If your net worth is over $1 million, we will take 10% of your net worth per year. If your net worth is over $1 billion we will take everything over $1 billion and 10% of the rest.