Letters: Wealth tax is money grab by another name

"A wealth tax on billionaires is a horrible idea. It is unconstitutional: a tax on wealth, not income. It's never enough. The taxers will soon return with a lower threshold and a higher rate. Consider the income tax and the Alternative Minimum Tax, which were initially touted as affecting only the very wealthy at a low rate. Today? Subsidizing health care creates artificially inflated demand, which can be resolved only by increased prices or shortages."

"Darien Schanske claims "this ($100 billion) is not some gigantic amount of money we're asking for." It's big of him to claim, "It's not a lot of money for people in this class," evidence of the progressive mentality: You've earned it. You don't need it. By force, I shall take it. This is merely a desperate grab by a group threatened with loss of their gravy train."

A wealth tax on billionaires is unconstitutional because it taxes wealth rather than income. Such a tax will not remain limited and can be expected to return with lower thresholds and higher rates, mirroring the evolution of the income tax and Alternative Minimum Tax. Subsidizing health care creates artificially inflated demand that can be resolved only by increased prices or shortages. The claim that $100 billion is insignificant reflects a progressive mentality that those who have earned wealth do not need it and the state may seize it by force. Political rhetoric from both parties escalates tensions and risks public safety; labeling law enforcement as Nazis or urging resistance inflames mobs and endangers officers and protesters. Politicians should behave with dignity and respect for others' safety.

Read at The Mercury News