...We need a tax policy that accounts for how economic benefits and disparities are passed down from generation to generation. To do that, we could calculate tax rates based not just on what people earn now — as traditional progressive taxation does — but also on the income their families brought in during their critical childhood years....Read the entire essay HERE.
Let’s introduce the Great Gatsby tax rebate for upward mobility....
I can hear Obama now in his preacher's lilt: "It's the right thing to do!"
The Left will not be satisfied until taxation penalizes and thereby subjugates and impoverishes the wealthy in a collective manner — that is, by family. The Left despises the very concept of the individual.
Also, remember this: who is "wealthy" is subject to interpretation, particularly when the word is interpreted on a global basis. Even the poorest in America are wealthy in comparison to most living in certain Third World countries.
Of course, the ruling elite will keep their wealth and live like kings while trampling everyone else into serfdom.