Communist America: Sanders Calls for ‘National Wealth Registry’ to Enforce New Tax

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As one commentor snarked, “To hell with the Constitution, let’s just take everyone’s money and let Uncle Sam decide what is best for us. What could go wrong?”

Penaizing success and rewarding failure is a recipe for absolute destruction.

“Socialism lays a bad egg by killing the capitalism that lays the golden eggs” ~ Margaret Thatcher

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Sanders Calls for ‘National Wealth Registry’ to Enforce New Tax
By Mairead McArdle

September 24, 2019 12:27 PM

Sen. Bernie Sanders speaks during the Democratic presidential debate in Houston, Texas, September 12, 2019. (Mike Blake/Reuters)

Democratic presidential candidate Senator Bernie Sanders on Tuesday rolled out his plan to levy an “extreme wealth tax” on millionaires and billionaires, which he plans to enforce through the creation of a “national wealth registry.”

“Today, the United States has more income and wealth inequality than almost any major country on Earth, and it is worse now than at any time since the 1920s,” Sanders said in his proposal.

Sanders’ annual tax on the top 0.1 percent would apply to Americans with a net worth of over $32 million, or about 180,000 households, and would raise approximately $4.35 trillion over the next decade, the Sanders campaign estimates.

The Vermont senator’s plan seeks to combat capital flight and other forms of tax avoidance through a “national wealth registry” and the addition of “significant additional third party reporting requirements.” The proposal calls for increased funding for the Internal Revenue Service to cover the bureaucratic costs associated with enforcing the wealth tax.

Under the plan, the IRS will be required to audit 30 percent of the top one percent’s wealth tax returns and 100 percent for billionaires.

The tax would start at one percent for a married couple with $32.5 million and would progressively increase one percent for each bracket up to eight percent for those with a net worth of $10 billion. Those rates would be halved for single individuals.
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The new tax will partially fund Sanders’ Medicare for All plan as well as his affordable housing and universal childcare plans.

Sanders argues there has been a “massive transfer of wealth from those who have too little to those who have too much” over the last three decades.
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“Under this plan, the wealth of billionaires would be cut in half over 15 years which would substantially break up the concentration of wealth and power of this small privileged class,” the progressive candidate said.

Sanders’ plan goes beyond Senator Elizabeth Warren’s wealth tax plan, which would impose just a 2 percent tax on families with $50 million and a 3 percent tax on those with $1 billion.

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MISS VEGAS
MISS VEGAS
4 years ago

Seems like these DemonRATS don’t really want to win. All of their ideas are absolutely HORRID!

Liatris Spicata
Liatris Spicata
4 years ago
Reply to  MISS VEGAS

Just because their ideas are horrid doesn’t mean they won’t prevail at the polls with them. You have to consider the intelligence/gullibility of the electorate.

As Robert Heinlein put it, the IQ of a mob is the average IQ of the people in the mob divided by the number of people in the mob.

Liatris Spicata
Liatris Spicata
4 years ago

Hey, small business owners-

Now the government can get into the business of making a valuation of your business. Of course, they will require certain additional information from you …. beyond what they already collect. Now, bureaucrats- who probably couldn’t run a competitive enterprise if their lives depended on it- can really get to know your business from the inside. Actually, I think it would be easier just to nationalize all businesses.

lostlegends
lostlegends
4 years ago

That’s for Bernie’s second term when VP Warren will run the show.

patd
patd
4 years ago

Again, we can’t fix STUPID with these ignorant libturds!!!!!

Lynn D
Lynn D
4 years ago

So 32 million is the starting point is it?.. I’m guessing Bernie’s personal wealth comes in at 31 million

santashandler
santashandler
4 years ago
Reply to  Lynn D

I didn’t know someone could get that much for selling their soul.

edbo
edbo
4 years ago
Reply to  santashandler

You can`t he sold his COUNTRY like all other demoncraps.

MuhamMUDTheFakeProphet
MuhamMUDTheFakeProphet
4 years ago
Reply to  Lynn D

31.9 million!

Ditto for all his lieberal friends in Silicon Valley(spit) and Hollywood (spit again).
I’m sure there will be all sorts of exceptions for just what counts towards that 32 million. Perhaps ten million dollar stock portfolios will be exempted, or maybe up to 5 personal homes, or 2 personal yachts and 3 personal aircraft.

Lynn D
Lynn D
4 years ago

This sounds like something out of Trotsky’s notebook.

santashandler
santashandler
4 years ago

“Sanders Calls for ‘National Wealth Registry’ to Enforce New Tax” He’ll be the first to sign up, right?

Tom Validakis
Tom Validakis
4 years ago

Kind of like a terror watch list but for successful people.

byronmullet
byronmullet
4 years ago

Aren’t there laws against social terrorism?

turkeychoker
turkeychoker
4 years ago
Reply to  byronmullet

there are, but they only apply to us

Drew the Infidel
Drew the Infidel
4 years ago

And you think your guns will be safe under a commiecrat president?

John Acord
John Acord
4 years ago

The fine print of this proposal will be tgh exemptions provided the big Commiecrat fat cats like Steyer and Pritzker. As for the rest, they will be soaking up the sunshine in the Virgin Islands,Panama and Monaco and the other tax havens.Its like in California where the wealthy have fled in mass to Nevada, Texas, Arizona. Heck,Israel And Russia will welcome them. The possibilities of dodging Bernie and the rest of the Commiecrats are endless.

Jim Kress
Jim Kress
4 years ago

If you value Liberty, you cannot vote for ANY of the Democrat “candidates”, especially those who manifest an unbridled hatred of anyone better off than they.

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joe shmoe
joe shmoe
4 years ago

communism and complete control is the real reason they want a disarmed populous

191njstatechamp
191njstatechamp
4 years ago

Can’t you just hear the Soviet national anthem in your head when you look at comrade Bernie?

191njstatechamp
191njstatechamp
4 years ago

…After all, he and his wife did honeymoon in Moscow..

Newsnet
Newsnet
4 years ago

In the past, kids were punished by their parents with a TV ban. Nowadays they have to ban their parents
from TV: “You don’t have to watch this nonsense, you’ll get upset for nothing!” Today, always the exact opposite is true of what is on TV or in the newspaper. You can look for facts there with a magnifying glass. We need real personalities in politics again who will bite if you want to muzzle them with political correctness.

The left do not eat with knife & fork, but with hammer & sickle. The only position they hold is “not to have one”. One would have to transplant iron bars into their soft knees. They have transformed our prisons into 5 star luxury hotels where criminals rule over prison guards and “vegan five-course menus” are served. Schools and dormitories are hovels in constrast to them. In the schools migrant mobs rule, and the teachers have to parry.

Courage looks different from hooky (you can’t buy it either.) Those humanoid “fabric softeners” should be taken out of the range (everyone knows anyway that you can’t remove any stains with them). They would like to equip our soldiers with wooden rifles or laser pistols, but nothing where a bullet comes out in front. And distribute our money to all the lazybones of the world. Lefts are kangaroos: empty bags, but big jumps.

They only have their heads to attach Rastas or Mohawks on them. Now they are all in Greta fever and want to block the traffic in the city centres every Friday. You have to reckon with them going out on the street tomorrow with braids. The epicentre of stupidity that rolls out the red carpet for Islam. We will roll up the carpet from the back side and make a flying carpet back to Arabia out of it.

starmannate
starmannate
4 years ago

32 Million will be the starting point year 1. By year 5, 100k will be the “starting point.” I say “no thanks” to becoming the next Zimbabwe…….

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