A wealth tax on billionaires is included in the latest version of Joe Biden’s “Build Back Better” agenda, but it’s a sure thing the real target is your retirement savings.
The so-called “Billionaire Income Tax” is being written by Senate Finance Committee Chairman Ron Wyden (D‑Ore.) with “input from the U.S. Treasury Department and the White House,” according to SWFI.
“It’s not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals,” U.S. Treasury Secretary Janet Yellen told CNN on Sunday.
That’s like saying you have a four-legged pet that eats kibble, barks, fetches, and looks exactly like a Golden Retriever — but it isn’t a dog.
Yellen told Jake Tapper, “I think what’s under consideration is a proposal that Senator Wyden and the Senate Finance Committee have been looking at that would impose a tax on unrealized capital gains, on liquid assets held by extremely wealthy individuals, billionaires. I wouldn’t call that a wealth tax.”
It’s a wealth tax.
Worse, it’s a tax on the investments and productivity gains that make the entire country richer.
Others see this as a tax on 401Ks and IRAs.
The left has had its eyes on your 401K & IRA for 30 years. There’s trillions of dollars there that they absolutely lust for, they would blow that money so fast.
The left has had its eyes on your 401K & IRA for 30 years. There’s trillions of dollars there that they absolutely lust for, they would blow that money so fast.
— Hunter Biden’s Life Coach (@Dave_AllRighty) October 25, 2021