As debt climbs to record $27 trillion, Congress says it's not time to turn off stimul

[MisterVeritis]

Well for demand accounts, you're correct, they can just steal the money, but the investments? I mean if you steal my stock who would buy it?

I do see your point. That is where the 20% wealth tax comes in. I am confident it will be based on the wealth one has on a specific date (for the first go-round).

[donttread]

I do see your point. That is where the 20% wealth tax comes in. I am confident it will be based on the wealth one has on a specific date (for the first go-round).

A wealth tax is an interesting concept and in it's purest form I might possibly support because of the tilted table and the unfair playing field the super rich have created. Hell I would think all these liberal super millionaires would be happy to donnate 20%.
However, in our current political state that money would not be used for the good of the country as a whole. It would be used to buy votes and pay unowed ancestoral debts and of course to grow government in the process. The other problem would be that once we accept such a thing we could never trust them to leave it at 20%
Instead we could just eliminate the loopholes including capital gains and actually tax those making 7 figures what the tax rate says we will. If we are going to continue with our antiquated graduated income tax as the way to raise funds for government then we should do it right. This wouls also mean less influence for congress to sell.