Willie Sutton Democrats

Sutton robbed banks because that is where the money was. That is the same reason Janet Yellin wants to tax fictional income.

I'm generally OK with taxation to support limited government. But today's taxation is more than supporting the necessary constitutional functions of government, it is an income redistribution scheme of epic proportions.

The idea of taxing "capital gains" that are unrealized is dangerous simply because it has no basis in reality. The Constitution allows for the laying and collecting of taxes on income, and unless you receive the money through a transaction, there is no income - there is only perceived value.

I isn't even clear to me this proposal is constitutional because capital gains are not defined as income, and how something that is unrealized could be redefined as income seems logically impossible.

In the case of owning a home, it often takes many decades to create that perceived value, but as the 2008 mortgage bubble bursting proved, that value can disappear overnight - and even turn into a deficit.

My wife and I sold a house in 2014 we purchased in 2006 that cost us $60,000 to sell. The government did not step in and send us a check for the other $50K we lost in value (we paid $435K and sold for $325K).

Janet Yellin revealed the true reason they want to do this - they want the money, so they invented a way to tax net worth that they otherwise have never had a way to get at. The money to pay such a tax on fictional profit obviously cannot come from a fictional sale of assets, it will necessarily come from the bank account of the person - or the forced sale of the asset.

Just because "they can afford it" is not a moral or ethical basis for the confiscation of anything. It is s subjective decision and a very dangerous process to begin. This is gender dysphoria applied to tax policy. It is taxable because Janet Yellin believes it is taxable income.

You may think this is just about "the billionaires" but once this definition is changed, it will be used against every disfavored economic class. Just remember how the Alternative Minimum Tax was supposedly aimed at "the rich" decades ago, but it wasn't indexed for inflation, so a huge percentage of people who were not "rich" paid it simply due to inflation. Biden,, Obama and the other progressives share a common ideological progenitor – the prolific bank robber from the 30’s, 40’s, and 50’s – Willie Sutton. In a biography, Sutton is recorded as being asked why he focused on robbing so many banks over his 40 year criminal career. Legend has it that his somewhat sardonic reply was:

"Because that is where the money is."

He didn’t say “duh” or “that is where the money is, dumbass” but that is implied…

This is why you hear so much about “paying their fair share” in conjunction with Democrat rhetoric about corporations and “the rich” - and it isn’t about “fair share”.

It is that these classes in America still have money and the progressives in government want it. They think that it is a debt for them to collect, a sum that is owed to them. It is because, like Willie Sutton, the Democrats know that is where the money is.