It's way more insidious than that. They're moving in the direction of a wealth tax, which means they want to tax we the people on unrealized income.
Taxifornia is way ahead on this, and its very popular in our legislature. Also, Liz "Pocahontas" Warren is very big on this at the federal level. Probably Bernie too... I just don't pay enough attention to him to know for sure.
So, how does a wealth tax work? Let's say you have a 401(k) that's worth $100,000? Yes, you will be taxed on that "wealth". Yet somehow, I doubt they'll give you a tax break when its value goes down...
And don't even get me started on inheritance taxes. Nothing says you support home ownership, small farmers, or small businesses like taxing the hell out of those who inherit them, even though every penny invested in those houses / businesses has already been taxed, likely multiple times.
They're rabid when it comes to finding new ways to tax (take) our money.
What kind of morons think a nation can tax itself into prosperity?
