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The Erick Erickson Show

S10 EP183: Hour 2 - Why the Wealth Tax is Complicated (And a Bad Idea)

The Erick Erickson Show

Erick Erickson

News, News Commentary

4.5874 Ratings

🗓️ 28 October 2021

⏱️ 37 minutes

🧾️ Download transcript

Summary

Democrats have managed to put together some of the worst tax policy proposals that you could possibly imagine, if you think elections are stolen it's time you got involved in the process and became a poll worker plus much of the progressive wish list it for the spending bill is hitting the cutting room floor.

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Transcript

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0:00.0

Hello and welcome. It is Eric Erickson here. The Eric Erickson show nationwide from my flagship station, WSB, in Atlanta, Georgia, where it's pouring down rain. It's actually the tears of all the Braves fans after last night. I turned it off. I couldn't, couldn't look. Okay. Y'all, I got to do something here.

0:23.9

I'm going to delve into a very, very boring topic.

0:30.7

And I'm going to try to make it interesting, educational and titillating so you don't

0:36.4

fall asleep at the wheel and die because we got to

0:39.6

talk about tax law.

0:45.8

I took tax law.

0:47.5

When I was in law school, I actually was very good at tax law.

0:50.3

One of my very highest grades in law school were income tax and estate tax, two separate classes.

0:56.7

I did great in property, con law, stiffs and gifts, decedent and states and trust, what you do with people's money dies, income tax, estate tax, and then all the Section 9, Uniform Commercial Code stuff, man, I love the transactional side of law.

1:13.6

I was good at that stuff.

1:15.3

But I just, I hated torts and criminal.

1:18.0

Oh, my gosh.

1:19.1

Worst grade I got in law school was criminal law.

1:21.0

I hated it.

1:22.0

And then it had to be an indigent criminal defense lawyer.

1:23.9

You did not want me as your lawyer.

1:25.5

Oh, in any event, Congress, the Democrats, I should say, not Congress, the Democrats in Congress,

1:32.6

want a wealth tax.

1:36.1

They want a tax on your wealth.

1:39.0

Now, a lot of people have reached out to me and they've said, well, how does this fit under the 16th

1:48.2

Amendment?

1:51.4

Because the 16th Amendment allows an income tax, but it's a little more complicated than that

...

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