The Ben Shapiro Show Ep. 894 - Eat The Rich
Nov 11, 2019
Dive into the controversial realm of wealth taxes as the dangers of Elizabeth Warren's proposal are dissected. Discover the different impacts of wealth versus income tax and the myths surrounding billionaires and job creation. The discussion challenges the narrative of wealth inequality, emphasizing how the rich often benefit society. Critique the media's portrayal of wealth and politics, while tackling the public's complicated views on billionaires and small business struggles, all wrapped in a humorous package.
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The Expanding Target of Taxation
- The left's attack on billionaires will eventually target everyone.
- This is because their spending plans require exorbitant taxes, even on the middle class.
Wealth Tax vs. Income Tax
- A wealth tax differs from an income tax; it taxes your total assets, not just income.
- This can force business owners to liquidate assets, even if they're not profitable.
Inefficiency and Counter-Productivity of Wealth Tax
- The administrative costs of a wealth tax, especially at a low percentage like 2%, could exceed revenue.
- Wealthy individuals are likely to move assets or relocate to avoid these taxes.