Elizabeth Warren says Government should be Allowed to Confiscate Citizens Property

Elizabeth Warren is one of the most risky politicians to emerge on the national stage in present day American history.

She is taking the ideas of socialism and bringing them to the mainstream, hoping to imbue them with a Harvard school lounge academic pedigree of respectability along the way.

Panam Post suggested that underneath the phrases of Warren’s new proposed “Wealth Tax” the American government would do something that it has never done before, some thing that is characteristic of fascist, Communist, and totalitarian governments: the actual confiscation of assets, as opposed to the mere taxation of income.

The government would start off by taking 2% of all assets from Americans with a internet worth of over USD $50 million, and 3% of assets on the net worth of Americans over USD $1 billion, every year.

“If we put that 2 cent wealth tax in place on the 75,000 greatest fortunes in this country,” she said, “we can do customary infant care for each infant 0 to 5, customary pre-K, widely wide-spread university and knock back the student mortgage debt burden for 95% of our students and still have almost a trillion greenbacks left over.”

But there is no promise that the government will now not seek similarly confiscations targeted towards the rest of American citizens, regardless of income.

Before even addressing the Constitutionality of such a notion (or the public policy merits), Warren’s ludicrous legislation presents a bureaucratic headache right off the bat: who, exactly, is supposed to be in charge of valuing these assets?

Assets, particularly of high-income individuals, are particularly volatile, The Washington Post noted.

The left believes your income, or property, belongs to the authorities and it is up to Washington to determine how lots of it you can keep.

It’s troubling that Warren is reviving a dusty ancient policy idea that has failed almost everywhere it has been tried.

But it’s lots more troubling that she has determined to center of attention her agenda on a suggestion that nearly sincerely can't be applied besides getting three-quarters of the states to vote for a constitutional change — or a Supreme Court that skews to the left.

It’s no way to run a government, however in the present day times, it is, sadly, a exceptionally desirable way to run a Democratic presidential campaign.

SOURCE : YAHOO NEWS