Elizabeth Warren’s Proposed Tax On MultiMillionaires and Billionaires Not Going To Impoverish Anyone, As Two Percent And Three Percent Loss Of Wealth Is Laughable For Them To Be Disturbed About

Senator Elizabeth Warren of Massachusetts, a declared candidate for President, has proposed a wealth tax on multimillionaires and billionaires, and has caused a ruckus, including that of two potential Presidential candidates, who are billionaires.

Former Starbucks CEO Howard Schultz, who has indicated he plans an independent candidacy, is outraged, as is Michael Bloomberg, former NYC Mayor, who plans to announce as a Democrat for President.

Both want to only give support through generous donations, but are opposed to being forced to pay a high level of taxes.

But their protest is preposterous, as they could never spend or utilize all of their fortune, and they seem unwilling to take the view that their success requires them to pay a small percentage in taxes.

What does Warren propose, after massive tax cuts for the wealthy under Ronald Reagan, George W. Bush, and Donald Trump?

Those who have assets of $50 million or more would pay 2 percent annually, which is only $1 million, and easily made up in interest.

Those who have assets of $1 billion or more would pay 3 percent, or a minimum of $30 million, which is a “drop in the bucket” if you have a billion dollar fortune, and also easily made up in interest over the next year.

A wealthy person never really loses his assets as the interest is always more than two or three percent.

Only a small less than one percent of taxpayers would face this tax, but it would raise a lot of money to deal with social and economic matters that affect a population becoming poorer and the middle class dwindling.

For these and other wealthy people to complain about this small percentage of their wealth being taxed, is totally preposterous and outrageous.

The Despicable Arrogance Of Mitt Romney And His Wealthy Boca Raton Supporters!

Let this author start off by pointing out that he lives in Boca Raton, Florida, in the same zip code as the wealthy Republicans who live in gated communities, but lives in a “normal” middle class home without gates to keep out others!

He is personally embarrassed by the obscene gaudiness and arrogant attitude of multimillionaires who live in gated communities, and think they are better than the rest of us!

These are the people who mistreat the workers in supermarkets, drug stores, and all other local businesses, because, somehow they think their wealth makes them “entitled” to treat others not as fortunate as them, in an insulting, rude, demanding manner!

It is people like this who could sit in the home of a “privileged character” who could demand $50,000 campaign contribution from each participant, the average income of a family of four in America, and twice what many families earn in annual income!

They could sit there and listen to Mitt Romney say he did not care about 47 percent of the population, and the nerve of that 47 percent to think they were “entitled” to food, housing, and health care, and not one spoke up in opposition! Remember that the “47 percent” include veterans, senior citizens, single mothers and children, college students, minorities, and disabled people!

How low and disgraceful could any human being go in not giving a damn about their fellow human beings, and only be interested in the constant acquisition of wealth at the expense of others losing their jobs, their health care, and their homes!

How can these wealthy people look in the mirror each day and not feel that this is not the message of Jesus or Moses, to look down on fellow human beings, and just go ahead and exploit others for material gain without any conscience?

What has happened to America that wealthy people like these in Boca Raton, Florida, have so little concern about others, and can back a candidate who exudes selfishness, greed, and materialism in the most ugly fashion?

These wealthy people who met at a Boca Raton mansion should be ashamed of themselves, and if they claim, as many probably do, to be “religious”, they should meet the judgment of their deity in the afterlife with a strong punishment for their misbehavior on earth!

They have forgotten that the way one treats the “little people” in life, the ones who earn low income but do service for all of us in different ways, is the best judgment of one’s character, and on that test, all these Boca Raton millionaires fail miserably!