In a podcast appearance, a wealthy CEO had the nerve to say, “billionaires should not be punished” with a 5% wealth tax because they are the “innovators,” “risk takers,” and the largest “employers.” (I’ll be posting the video later today.)
ARE YOU F$&KING KIDDING ME?!
The Dreaded Wealth Tax
The income and wealth gap in the U.S. continues to expand. The further apart the wealthy and the working-class become, the hotter the resentment burns inside the average American.
That resentment can only burn so hot before it explodes and the wealthy are running for their lives.
We can only take so much — getting sick or injured without healthcare, watching parents waste away because they can’t afford medication, struggling to pay rent, living paycheck to paycheck, just one emergency away from ending up on the street — before we break.
So forgive me if I’m unable to squeeze out a drop of sympathy for you as I struggle to pay rent and buy groceries.
If a billionaire paying a 5% wealth tax is a “punishment,” does that mean we’re being punished? Working-class Americans end up paying more in taxes than the top 100 wealthiest among us.
From researchers at UC Berkley: “The overall effective tax rate for the top 100 wealthiest in the 2018-2020 period was 22%, but 26.6% for the next 300. The effective tax rate was 45% for top earners who made their income from wages and salaries, as opposed to those whose wealth came from ownership or investment.
The effective tax rate for the U.S. population as a whole was 30.2% in the 2018-2020 period, which corresponds to the final three years of President Donald Trump’s first term.”
Hero of the Working Class
Bernie Sanders shared a few billionaire “infographics” on X recently to expose just how rich the richest people in America really are—And how many private jets and/or yachts they own.
I gathered up these billionaire “trading cards” of sorts so I could share them with Resist Hate readers.
If hearing the wealthiest people in the country whine about paying a 5% wealth tax, when they typically pay $0 in taxes, makes you angry, this gallery is for you.
Bonus For Bernie Fans: On the California Wealth Tax
