Wealth Tax Weirdness

I’m confused. Which won’t surprise anyone who knows me very well.

Elizabeth ‘Has a Plan For That’ Warren is reviving her wealth tax proposal.

“Ms. Warren’s wealth tax would apply a 2 percent tax to individual net worth — including the value of stocks, houses, boats and anything else a person owns, after subtracting out any debts — above $50 million. It would add an additional 1 percent surcharge for net worth above $1 billion.”

Three in five Americans support the proposal. Cue my confusion. Why does 99.9% of the 40% oppose the proposal when the tax will never come close to applying to them.

“Ms. Warren estimated her initial proposal during the 2020 campaign would raise $2.75 trillion over a decade, which she proposed spending on education and child care, based on estimates from the University of California, Berkeley economists Emmanuel Saez and Gabriel Zucman.”

Maybe the answer to my question lies within that dastardly sentence. Maybe the “anti-wealth tax forty percenters” have the backs of the ultra-wealthy because they know how just how bad things could turn out if people of modest means are able to provide their children improved childcare and schooling.

Personally, just to be safe, I’m going to do everything possible to keep my net worth under $50m.

Democracy Is Cool When You Vote Like Me

I’m not Bernie Sanders’ target audience. I’ve benefitted way too much from capitalism; I’m okay with my health insurance; and our recent weather aside, I’m not nearly angry enough. AND LISTENING TO HIM IS LIKE READING MILLENNIALS!!!

But I’m even less fond of the James Carville’s* of the world and other liberals who are constantly ripping Sanders youthful supporters. Instead of whining about them, try these alternatives.

Stop castigating them for their idealism; instead, affirm their engagement in the political process. For every committed “Bernie bro” there are ten apolitical apathetic people their same age. And hell, if they don’t start out idealistic, what chance do they have?

Set your Boomer pragmatism aside long enough to consider their perspective by substituting questions for the incessant, negative diatribes. Write these on an index card and put it in your shirt pocket. Why Medicare For All? Why a wealth tax? What’s it like having so much student debt? Why such an intense concern with climate change? Why dismantle capitalism? Then move on to their stories. If you’re not careful, you might learn WHY they vote differently than you.

The more respect they receive from mainstream Demos, the more likely they will be to eventually support another candidate in the case another candidate wins the nomination. Right now, given the knee-jerk invective they’re constantly subject to, I wouldn’t blame them if they simple say “A pox on both of your houses.” Which, of course, is the worst possible outcome.

*Pains me to write that, because during his Bill Clinton administration heyday, I really liked Carville. I found his smart, funny, direct, Southern, Creole riffs on all things political super engaging.