There are plenty of rich Democrats out there whining about our tax system and that it’s not fair. They’re always calling on the millionaires and billionaires to pay more money to Uncle Sam.
Just the News reports that a group of Democratic lawmakers and an organization called the Patriotic Millionaires (high net worth elitists) want Congress to pass a 90% income tax on incomes above $100 million.
Yes, they are crazy.
They’re also cheap. The “Patriotic Millionaires” should be paying in more to the federal government voluntarily. They should be putting their money where their mouth is. That includes Bernie Sanders, Elizabeth Warren and all of the other rich Democrat idiots who want to steal everyone’s money. It also includes Patriotic Millionaire Abigail Disney, the grand daughter of Roy Disney, cofounder of the Walt Disney Company. The only reason she’s rich is because of her family. As Obama would say, “she didn’t build that.”
Unfortunately, an older Slate article says that the millionaires can’t send extra money directly to the IRS because they would just refund the money. So instead, rich elitist Democrats can send their donations to the Treasury’s Bureau of the Public Debt where the money goes into a special account to redeem outstanding government notes, bills, and bonds.
Slate says that between 1996 and 2011, Americans had donated about $26 million to reduce federal indebtedness. Sounds like a lot – but it’s a drop in the bucket on what is owed.
So nothing is stopping the rich Democrats from sending in their donations to the federal government – instead of stealing more money from American citizens. There are plenty of folks who actually built up their companies to be a success, sacrificing much along the way. Now, the federal government wants to steal their success.
The Democrats also want to get more money from dead people and their grieving families. California Rep. and Democrat Jimmy Gomez has a tax reform proposal (supported by Bernie Sanders) to raise the estate “death” tax rates. Rep. Pramila Jayapal (D-Wash), A cosponsor of the Gomez legislation, also wants to impose annual taxes on the net worth of households and trusts over $50 million.
How many times can you tax the same money? Many times over, according to the Democrats. Even when you are dead.