House Democrats Spar Over Proposed Wealth Tax

If there’s one thing the Democrat Party loves to throw its weight behind, that thing is taxes. Democrats are obsessed with taxes and with hitting Americans with taxes any time possible.

The left doesn’t believe in letting people keep the fruits of their labor. In fact, Democrats openly trash and demonize the capitalist economic system that has lifted more people out of poverty than any other economic system in history.

Right now, there are Democrats in Congress seeking to impose a wealth tax. Quite simply, the wealth tax entails slapping taxes on assets that are set to go up in value, but currently haven’t done so since they have not been sold.

Many House Democrats are all for it; however, there are other Democrats in the House of Representatives calling to pump the brakes. Breitbart News confirms the lack of unanimous support is causing infighting and discord.

A House Divided on the Wealth Tax

Believe it or not, there are some House Democrats (such as Rep. John Yarmuth) who oppose the wealth tax because they don’t think it goes far enough.

Then, there are other Democrats in the House (like Rep. Jimmy Gomez) who claim the notion of a wealth tax is a waste of time. Of course, other congressional Democrats in the lower chamber are all for the wealth tax.

As it turns out, Gomez may be correct. Even the Wall Street Journal admitted a wealth tax could generate pushback in the form of litigation. WSJ furthermore stated individuals impacted by a possible wealth tax wouldn’t hesitate to dole out millions in litigation fees in order to save themselves billion in taxes.

WSJ also went on to assert a wealth tax could possibly be at odds with the 16th Amendment of the Constitution. Nevertheless, there are still some House Democrats who support a wealth tax.

Greed Comes Before the Fall

As Democrats in Congress rally behind the notion of a wealth tax, they’re also trying to give the IRS full access into any American bank account with over $10,000 in annual transactions.

Democrats allege this is all to make wealthy people pay their fair amount in taxes; however, just about everyone knows better then this. Biden and the Democrats are looking to squeeze just about every penny they can from anywhere they can in order to fund spending bills.

These are the same spending bills the left keeps alleging will cost the country absolutely nothing. This is a lie and they’re not fooling anyone. The Democrats’ greed will likely play a significant role in them losing the 2022 midterms to the Republican Party.

Do you support the Democrats’ call for a wealth tax? Let us get your insight in the comments field.