No need to tax them if you own them.
For years, socialist advocates of Big Government have pushed wealth taxes as the next step in redistributing the fruits of one’s labor and enterprise. Their premise is that government has a superior claim to the wealth accumulated by successful individuals and businesses, even after the payment of taxes incurred in the creation and consumption of that wealth. Whether the target is high-income earners, inherited wealth, or unrealized capital gains, those advocates’ objective has been to transfer private assets (beyond mere “income”) into the hands of the state.
Leftist U.S. Senator Bernie Sanders’ proposed American AI Sovereign Wealth Fund Act (introduced in ...
