Democrats who want a 3% tax on the wealth of Rich people leave out simple facts, as always.

Wealth is the combined values of a person's home, his property, his savings, his stocks, his retirement income, his cars, boats, jets, etc. etc.

Progressives such as Elizabeth Warren tell you that three cents on the dollar is nothing to Rich people. If this were income tax, she would be correct.

Now I want you to use simple math and do the numbers on what a 3% wealth tax would mean to a person's wealth after ten years.

Let's say a person's total worth is 100 million dollars. That wealth does not repeat each year as would income. It represents his total worth from all his working years. He would lose three percent every year on his total wealth. That would be THIRTY PERCENT of his wealth after ten years! He would lose 30 million dollars of his wealth after ten years and the losses would continue with each year after.

Do you see how fake news works? The Left is genius at distorting facts to make everything they say sound so good. The truth is always in the details. Democrats are closeted Socialists who constantly want to punish success while rewarding irresponsibility. This is just more of the same Socialist drivel.

They tried these tactics in other Socialist nations but stopped doing so after it's complete failure. They found that the Rich people moved to other nations to protect what they worked for their entire lives. These Rich people had this funny notion to give their possessions to loved ones upon death rather than corrupt politicians. Go figure.