The Fallacy Of Warren's Tax Plan

Senator Elizabeth Warren proposes to tax the rich to "help" the poor.

Here's what's wrong with such a plan:

a. Much of "their" wealth (that of the rich) is NOT real money. It wasn't earned income, and much of it represents a transfer of wealth from poor and middle class folks to the rich via the inflation of stock prices (i.e., it wasn't related to productivity). It's just "funny money".

b. Much of the products and services actually purchased by the poor and middle classes and which DID contribute to the wealth of the rich were paid for by taking on DEBT, not by transferring assets (since we at the bottom have no assets).

c. If and when Senator Warren puts her plan into place, the proceeds would not substantially pay down either public or private debt. We'd all still be broke, except for the rich - who at most would only be slightly less rich.

Instead of Senator Warren's plan, here is what we should do:

1. STOP our insane military spending. Redirect the trillion $ per year wasted by the Pentagon into fixing our infrastructure and our social safety net.

2. Seek and recover the trillions $$ in military spending the Pentagon cannot account for. If that requires seizing some corporate and private assets, so be it - they don't appear to have been legally obtained in the first place.

3. Anything transferred from rich to poor should be done in a manner which pays down the debts of the poor. Call it "helicopter money" if you will; I call it economic justice. "Their" funny money and our debt should cancel each other out, and THAT definitely would benefit all of We the People.

And PLEASE stop attacking China's One Belt, One Road initiative. We have nothing of value to offer in its place, and until we do we're wasting our time, money, and whatever good will remains between us and the rest of the world. Either work WITH China or offer a viable alternative.