Commentary Like most socialists, Sen. Elizabeth Warren (D-Mass.) is enamored with class warfare and wealth redistribution. Her political career has been predicated on vilifying productive Americans while nurturing a sense of victimhood among the unproductive. Although Warren’s socialist streak probably prevented her from becoming her party’s 2020 presidential nominee, she’s not backing down. In fact, she’s doubling down. On March 1, Warren reintroduced her Ultra-Millionaire Tax, which would impose a “2% annual tax on the net worth of households and trusts between $50 million and $1 billion” and a “1% annual surtax (3% tax overall) on the net worth of households and trusts above $1 billion.” According to Warren, “This is a wealth tax that has been needed for a long time. We need it to produce more revenue, to create more opportunity in America.” This is deceitful. First, governments don’t need more revenue. In FY 2020, revenue to the federal, state, and …
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