Originally Posted by Joshua G

it is a terrible awful idea. first, rich people can just leave the country to avoid such a tax, they can afford to move & many of them have foreign homes anyway. so it would create a flight of productive people out of the USA to tax friendlier places.

on top of that, to pay off the national debt with no pain to the politicians is a deadly get-out-of-jail-free card for the feckless people who vote for endless deficit spending. it would embolden the keynsians who say you can drive up the debt forever with no problem, cause then they would be right, cause it was confiscated from its producers, who were singled out & the middle class doesnt have to sacrifice even though they are the main beneficiaries of the entitlement programs.

not to mention setting a precedent for simply confiscating private wealth for whatever 1 time whims the public sector decides & votes for? what other things will the pols dream of next to soak the rich with?

im certain trump will eventually retract support for this old idea of his which was made 3 party shifts ago.