Elizabeth Warren recently used the purchase of a $100 million yacht by an NFL owner as justification for her #Ultramillionairetax. (Setting aside for the moment it’s unconstitutional.)
https://thebiglead.com/2019/01/26/elizabeth-warren-goes-after-daniel-snyder-and-his-100-million-super-yacht/
2setsofrules recently ran across a story detailing the $1.8 million engagement ring and $100,000 purse that accessorized J Lo on a recent outing with her fiancee.
And this is the problem with people like Elizabeth Warren. Who gets to decide how much is too much? What makes Warren so special that she – or anyone else for that matter – should be the arbiter of how much is too much? One could make the argument that $100,000 for a purse is way over the top.
Do we really want people like Elizabeth Warren determining how much is too much and punishing people via a tax because they have achieved a level of success? Is that really a decision you want to turn over to politicians?
Bernie Sanders has a lake house – that is way more than a lot of people have. Therefore, should he be taxed extra? Elizabeth Warren herself is reported to have a net worth of over $8 million – who needs that much?
It was reported that a baseball player, Mike Trout, just signed a 12 year contract for $430 million. Should he really be payed that much just for playing a game? Should Elizabeth Warren sometime in the future be able to deem that too much and come up with a #ultrasportstax?
This probably doesn’t come as a surprise, but 2setsofrules doesn’t have a problem with either a $100 million yacht, a $100,000 purse or a $430 million contract. If you have the talent to earn it, and someone is willing to pay, that shouldn’t set you apart for special tax treatment from the political class.
Moreover, her proposal is unconstitutional. Somehow, that fact must have slipped past the Harvard law professor.
Our Constitution guarantees equal opportunity – not equal results. This is the politics of envy. Moreover, it’s plain and simple confiscation simply because she doesn’t think you need that much money.
Having politicians pick winners and losers is all about power. Soon or later, as in the French Revolution, that power can turn on you.