I have long opposed wealth taxes based on both constitutional and practical grounds. When Elizabeth Warren pushed her own wealth tax, I noted that the high starting income or wealth levels would likely be lowered with time if Congress were ever allowed to cross this constitutional Rubicon. The Massachusetts Teachers Association (MTA) is now demanding an amendment to the state constitution to tax the “wealth of the richest 1%” to pay for free public college. Previously, the state passed a constitutional amendment to place a 4 % tax on income above $1 million. This would add a new wealth tax to that earlier “Fair Share Amendment.”
In a press release, the teachers union president Max Page declared: “if we are serious about social and economic justice and nurturing a culturally rich and welcoming state of involved citizens, we will provide all residents with the best vehicle for a prosperous future – public education.”
New York City socialist mayoral candidate Zohran Mamdani has made a similar proposal that, in addition to taxing corporations, he will “tax the wealthiest 1% of New Yorkers—those earning above $1 million annually—a flat 2% tax.” Not surprisingly, Warren recently declared Mamdani the future of the Democratic Party.
Massachusetts is already in the top ten highest tax jurisdictions. These tax increases are why many of us have opposed the state and local (SALT) tax deduction. As high-tax states continue to increase their rates, they expect residents in low tax states to subsidize them.
My forthcoming book, Rage and the Republic: The Unfinished Story of the American Revolution, discusses the wealth tax controversy and how these moves are likely to increase in the coming years.
I’m really glad I decided to reach out for help with my financial situation here. The https://www.portutax.com/ service I received was excellent—everything was explained in a way that made sense, even to someone without much tax knowledge. It’s rare to find a company that genuinely seems to care about your peace of mind, but they really did. I never felt rushed, and every interaction was professional and friendly. I would definitely recommend them to anyone looking for clarity and confidence when dealing with Portuguese tax matters. It feels like I have a partner, not just a service provider.
To the busy body teaches. None of this is your business. Read the US Constitution and opinions of the legal scholars. This Communist ideawould not end well for anyone.
My mentor in the practice of law had a favorite saying: “You don’t value what you don’t pay for.”
“Free” college isn’t, and it is a TERRIBLE idea…
The Teachers Unions make significant donations to the Democrat Party, out of dues from its members. Their requests tend to be heard.
So let’s do a little back-of-the-envelope history lesson:
In 1913 (Modern income tax) With the ratification of the 16th Amendment, the federal income tax became permanent. The initial rates were 1% on incomes above $3,000 and up to 7% on incomes exceeding $500,000.
$3,000 “1913 dollars” are about $97,000 today (inflation adjusted). I’m pretty sure the average person pulling down $97K is paying more than a 1% rate.
$500,000 “1913 dollars” are more than $16,000,000 today (inflation adjusted) so Elon’s, Gate’s, Soro’s, et. al., must be paying around 7% today.
Do I have that right? Or do government’s confiscations of citizen’s income only ratchet up?
I am sorry for your loss Dustoff. My condolences to you and yours.
“Blessed are those who mourn, for they will be comforted.”
(Matthew 5:4)
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–Oddball
“Take it easy Big Joe, some of these people got sensitive feelings.”
To my friends on Turleys blog.
My ever smart wife has passed away on Aug 8th @ 1142pm Pac time.
She was my rock and a great ER nurse. I met her when I moved to lib run WA state in 1995.
I wake up this morning alone.
I will still chat with you all on this blog, pardon me if I’m not always here.
Thanks Lee
Lee,
My condolences to you. Wishing you well.
*. Condolences, Lee. I heard a wonderful explanation of grief. Grief is love with nowhere to go. 😢.
^^^ in addition , I think it was meant for you, Lee.
Lee, I am so very sorry for your loss. You are in the crashing waves stage of grief, where everywhere you turn, there is a hole the size and shape of her in your life, at the breakfast table, in conversation. I’ll be praying for you, and thinking of you. I wish there was an online version of dropping off casseroles, for times like these.
Tangible expressions of love and care — like meals — are the best.
Men, especially, need care — hopefully Dustoff has a core of support.