Senator Bernie Sanders unveiled his new tax plan this week, and it has one clear goal: get rid of the wealthiest Americans.
Billionaires should not exist. https://t.co/hgR6CeFvLa
— Bernie Sanders (@BernieSanders) September 24, 2019
Sanders' plan uses what's known as a "wealth tax" to reduce the wealth of the most successful Americans. Rather than taxing just income, a wealth tax allows the federal government to seize money based on someone's net worth.
Under the plan, the Sanders campaign said it would levy these taxes on married couples:
- 1 percent on married couples with a net worth above $32 million (meaning a couple worth $32.5 million would pay $5,000 annually in taxes)
- 2 percent on those worth $50 million to $250 million
- 3 percent on $250 million to $500 million
- 4 percent on $500 million to $1 billion
- 5 percent on $1 billion to $2.5 billion
- 6 percent from $2.5 billion to $5 billion
- 7 percent from $5 billion to $10 billion
- 8 percent on wealth over $10 billion
Setting aside the dubious constitutionality of a wealth tax, Sanders' plan represents yet another power grab by Washington, D.C.
The senator from Vermont may not like the fact that some Americans are very, very wealthy. He and others make the case that those with immense wealth have an obligation to help those who are less fortunate, and many billionaires give millions every year to charities and non-profits.
But Sanders also believes that the federal government should be in charge of that wealth redistribution. Rather than give Americans the freedom to spend their money however they see fit, Sanders and other socialists believe they know better.
Such a mindset affects not only the billionaires among us. If the "Washington-knows-best" attitude can be used to tax billionaires, it can also be used to force the American people to make certain decisions about healthcare, education, and, yes, household economics.
It's time to push back against the power-hungry politicians in D.C. An Article V Convention of States is called and controlled by the states and has the power to propose constitutional amendments. These amendments can reduce the power, size, and jurisdiction of the federal government, prohibiting officials like Sanders from using their position to impose their will on the American people.
Millions have signed the Petition, and fifteen states are on board. Add your name by filling out the Petition below!
