The next time some politician starts blathering on about “threats to democracy,” take a moment to remind them that we, thankfully, don’t live in a democracy. We live in a constitutional republic.
Issues & Insights "When a handful of Democrats introduced a bill to impose a progressive wealth tax on millionaires and billionaires, they didn’t just say that income inequality was bad. They called it a threat to democracy. Apparently, anything and everything the left doesn’t like is now a threat to democracy.
"Reps. Rashida Tlaib, Barbara Lee, Summer Lee, and Jamaal Bowman – four of the most far-left lawmakers in Congress – introduced the OLIGARCH Act (we won’t bother spelling out the acronym) to “tax extreme wealth, reduce inequality, and combat the threat to democracy posed by billionaires.”
" 'The bill ensures accountability and is an effort to restore democracy,” the press release states.
"Tlaib says “billionaires are threatening our democracy.” Not to be outdone, Barbara Lee calls them a “major threat to democracy.”
"How exactly do the rich threaten Democracy?
"Summer Lee claims that “the 400 richest Americans have 22,000 times the political influence of the bottom 90%” – citing the conclusion of one research paper published 14 years ago.
"Morris Pearl, chairman of the Patriotic Millionaires, which backs this bill, insists that “without decisive action, this vicious cycle of concentrated power and money will dismantle our system of democratic capitalism, and with it, our way of life.”
"Their solution is to impose an entirely new wealth tax, starting at 2% and climbing to 8%, on anyone who has a net wealth of more than $140 million." . . .
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