I don’t care what they do to the rich, you simply cannot pay for the programs being proposed without a huge increase in taxes on the middle class.
You want a Euro Democratic Socialist state here in the US? You’ll be paying similar taxes or you won’t get it.
That’s the problem. Most people are running out of ■■■■ to be taken because the wealthy are hoarding it all and when that fails, leaving the country with it.
The only net loss of wealth we have in this country is our trade deficit and exportation of wealth generating industries.
As we export jobs and our wealth generating industries workers get poorer.
The wealthy get wealthier by buying low and selling high, or creating new markets, they aren’t “hoarding” wealth.
There isn’t a fixed or finite pool of money in the US and the rich aren’t just sitting on piles of cash to keep it from everyone else.
They make money by putting their money to work.
As long as the gubbermint keeps having more and more put into circulation you bet your ass there’s no limit. Then we get things like inflation and neighborhoods with record housing vacancies. It’s all fine though. Nothing to see here. Best economy ever. Savings accounts!
All the people going deeper into debt to line the pockets of the already wealthy aren’t a problem either. Who needs debt ceilings? I guess when you borrow other people’s money to start a business that’s making your money work for you too, right? 
Inflation is flat, the economy is growing, real wages and median income have been growing for the first time in over two decades.
The rich aren’t hoarding case, they are putting it to work in the economy.
Consumerism and consumer credit are fueled by greed and envy.
That can be cured with a little self discipline and it isn’t the rich responsible for our spending habits as individuals.
I see. The poor are poor because they’re greedy and envy the wealthy. Well that explains everything.
It’ll pay for every ■■■■■■■ freebee promised to every snowflake…until they wake…from woke. 
By then…compared to everyone else…they are.
What would happen is that the programs like “free” childcare would be implemented first and then they would realize there isn’t enough money for it. That’s when the middle class will pick up the tab.
From what I can tell so far nobody here believes it would be enough. See that who says we all can’t find common ground! It’s all pie in the sky ■■■■■■■■ from multimillionaire socialist politicians who are incredibly stingy with their own substantial wealth and obsess over the wealth of those who have done better than them.
When you look at the list of the wealthiest people in the US they are mostly (all?) people who created businesses. I would have to assume that most of their wealth is tied up in that business, right?
Poverty is largely a function of two factors. Who a person’s parents are and how they are raised. And the the decisions they make in life.
BAM…hammer…meet nail.
It would be a logistical nightmare, consider the following from the article:
Warren’s IRS would demand an annual accounting of people’s wealth. Even if the intrusion of the question does not bother you, the complexity of the answer will. The price you paid for your house is known, but what is it worth 10 or 20 years later? Professionals could estimate and appraise it, but no one knows for sure until an arm’s-length sale is completed.
Local property taxes are based on assessments that rarely change from year to year — your township is more likely to adjust the tax rate than the nominal value because this takes far less effort from it. But the township is concerned with raising revenue, not redistributing wealth, as Warren is. Would that level of inexactitude be enough for the wealth taxers? Unlikely.
Every bit of property people own would be subject to these calculations. Stocks are easy enough, but only if they’re publicly traded. How much is a privately held corporation worth? Appraisers can estimate, but one working for the owner will estimate one direction while the government will estimate in another. Which is right? Audits would be frequent for anyone close to the cutoff.
We do this sort of accounting for estate tax purposes when someone dies, and proponents of the wealth tax will say we can do the same for that. But those transfers are as onerous as they are infrequent. The process of settling an estate often takes more than a year. Doing it every year would mean a perpetual audit. The costs of compliance would be massive, even when people are playing it straight. If they aren’t, or if the government thinks they aren’t, costs multiply even more rapidly.
These calculations would apply to everything a person owns: land, cars, buildings, furniture, livestock, heirlooms, keepsakes, collectables, and every other bit of personal property you can imagine. That not only means a tremendous effort and expense in calculating wealth each year, but it also means the government would know exactly what everyone in America owns at all times. Everything.
Emphasis mine. I’m pretty sure that the wealthy are going to have and army of lawyers and accounts to deal with such an intrusion, don’t you. The point is that one’s “wealth” is a very subjective figure and will in itself take tremendous time, costs and legal battles to figure out.
And that is METT-TC dependent.
