00:00:00
The reason they're calling it a
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billionaire tax is to make it easier for
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people to vote for it and sign up to
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this entirely new tax system that
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they're proposing to put on all
00:00:10
Americans at some point in the United
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States and for the first time ever
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degrading our private property rights.
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Forget about how much wealth you have.
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Forget about how rich you are. Forget
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about the term billionaire, millionaire,
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whatever it is. We're creating or
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proposing the creation of a new tax
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system that allows the government for
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the first time ever to come in and audit
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everything you own. All the jewelry your
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grandma gave you, all the value of all
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your couches in your house, the value of
00:00:35
your car, the value of all your stocks
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and bonds. And the government can now in
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and for the first time look through the
00:00:41
veil into your personal property and
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say, "Here's how much all this stuff is
00:00:44
worth. I'm charging you a percentage of
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that. That's what I need to get paid."
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And it doesn't matter that it starts
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with billionaires. What matters is that
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we're giving the government the right to
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look into our private property and take
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a percentage of it every year. The total
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net worth of billionaires in the United
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States, 8 trillion.
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>> Yeah. The real money is in the middle
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class. And
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>> the net worth of the United States, the
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middle class and everyone else is 170
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trillion compared to 8 trillion of the
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billions.
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>> They need a way to open the door so that
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they can go after the real honeypot. The
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real honeypot are not 200 people. Just
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so everyone understands, the real goal
00:01:16
of this is not to tax billionaires
00:01:19
because there are other ways to tax
00:01:20
billionaires. Charge them a capital
00:01:21
gains tax if they borrow against their
00:01:23
assets that they haven't paid capital
00:01:24
gains tax on. Very simple. That can
00:01:27
resolve this. Another thing you can do,
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you can raise the capital gains tax
00:01:30
rate. Sounds unpopular. I don't agree
00:01:32
with that, but that's another way to
00:01:34
deal with this, which is take the
00:01:35
capital gains tax rate from 20 to 30.
00:01:37
You could do that. The real goal of this
00:01:39
is to create for the first time in
00:01:40
American history a private property
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asset seizure tax and to use that as a
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way to take a percentage because they're
00:01:47
going after the they're going after the
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170 trillion not the 8 trillion that the
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billionaires
