Elizabeth Warren’s wealth tax is now moving forward in the far left Democratic states – California, Connecticut, Hawaii, Illinois, Maryland, New York and Washington state. Of course, Pennsylvania, Delaware and New Jersey pay very close attention as they lick their lips at the thought of untold billions of dollars in new revenue to cover pension plans for government employees crippled by artificially low interest rates. Even at the federal level, the United States bumped its head on the debt ceiling. Without a doubt the roof needs to be raised again but with plenty of pomp and circumstance and perhaps some fistfights on the floor. However, the primary traders can’t handle all the debt pouring in and there is a low appetite for anything long-term as the Bide administration wages direct proxy war against Russia until the last Ukrainians fall on the battlefield and then NATO forces avenge their deaths.
Socialism is on the way to collapse and governments will fight to their last breath until politicians are dragged and hung in the streets as is usual in such cases of economic malfeasance. What appears at the state level are just versions of Warren’s wealth tax that will be applied to global assets. The hated rich politics, which have provided all jobs over the centuries by creating industries, will be mined.
Sell your house while you can still immigrate now!
Once this Wealth taxes Enter the game in the year 2024, this will be the height of ECM and only a rational person would want to buy your house in those states! 2024 will be the year of ups and downs, and you better pay attention to what is going on at this level. Wealth tax will be a permanent property tax that you will pay even when you lose money. you will be Not Recognizing the impairment of assets until they are sold.