Continue Reading Below
In the most recent Democratic debate, Warren claimed her wealth tax would unite the country, Varney noted. “That’s a bit of stretch,” he added.
“What she’s really getting at is income inequality. She wants to narrow the gap between top and bottom. Confiscate the billionaires' money, and bring ‘em down to a more acceptable financial level,” Varney said.
Warren believes this wealth confiscation will unite the country because surely the rich will be able to afford it and there are only a few hundred of them anyway to unite against, Varney suggested.
“If jealousy and envy brings us together, count me out. That’s Europe. That’s socialism. That’s not America,” Varney said.
Warren’s wealth confiscation plan, first of all, is unconstitutional, but it’s also morally wrong, Varney argued. He described the plan simply as “theft.”
“It won’t be limited to billionaires. Senator Warren needs so many trillions of dollars for her 'free stuff' that she has to reach down into the wallets of middle America, and when she comes for your money, there’ll be no unity,” Varney said.
Apart from being immoral and unconstitutional, Varney added that Warren’s wealth tax is unworkable. Taxpayers would have to place a value on everything they own: houses and farms, stocks and bonds, but the value of assets changes, Varney noted. When then does one take measure of their net worth? “What is the value you are taxed on?” he asked.
Varney described the socialism and class division he witnessed growing up in Britain.
“I saw this first hand. Hatred and jealousy of the rich. It’s socialist stock in trade. There’s no unity in socialism, just angry, humorless division. What a shame it’s come to America,” Varney concluded.