Past performance does not always guarantee future results. At least that’s what they tell us in Finance 101.
However, history does repeat itself.
And as the rhetoric ramps up in the wake of the US presidential elections, talk of budget deficits and the exponentially growing national debt will be bandied about ad nauseum.
When Democrats talk of balancing the budget, they always turn to tax hikes – especially on the rich. They wail and cry that the ‘rich’ don’t pay their fair share. They claim that we ‘all’ need to sacrifice when what they really mean is that you and I need to sacrifice.
So when a country like Great Britain proposes a ‘One-Time Emergency Wealth Tax’, you can bet your bottom dollar the US liberals will pull the same stunt somewhere down the line.
It’s sick – but it’s real. And I guarantee you it will make news here before long.
Read more about Britain’s ‘Emergency Wealth Tax’ here: Emergency Tax on the Rich Roils Britain