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Christopher Drake: Wealth Tax is Illegal, But It’s Also a Terrible Idea


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Characters Referenced: Christopher Drake Litzy Gonzalez

WASHINGTON, D.C. - Predictably, House Majority Leader Litzy Gonzalez (D-TX) complained to the press about the defeat of her wealth tax proposal in Congress, the so-called Tax the Rich Act. House Republicans fought against the wealth tax provisions, and by reasoning with moderate Democrats, stripped the bill of the wealth tax entirely.
 

House Minority Leader Christopher Drake (R-NY) argued the tax was unconstitutional and illegal on the House floor, to little opposition from Democrats at the time. While Majority Leader Gonzalez has decided to argue in the press that a wealth tax is indeed constitutional, Representative Drake maintains that it is, at best, legally dubious. “The central issue is whether or not it’s a direct tax. I think history and reason point to it being a direct tax on American citizens, meaning it has to be apportioned by state. No one wants that, especially with a wealth tax. Clearly, not everyone agrees, but why risk such big government programs with legally dubious taxes that could easily be struck down in a Court fight?” 
 

Besides being legally questionable, a wealth tax is simply a bad, no good, rotten, terrible idea. Wealth taxes are inefficient and difficult to enforce. Wealth itself is often hard to conclusively determine, and that’s without the ability for rich Americans to move their assets overseas easily. This means administrative costs and overhead alone would be overwhelming, and Americans know the last thing we need is more tax bureaucracy. The tax also distorts economic incentives to re-invest and save, and as America navigates through tough economic times, the reality is that now is definitely not the time for that. Wealth taxes can also cause brain drain and other devastating economic problems, and they ultimately yield very little in tax revenue. For these reasons and many more besides, most European countries have abandoned their wealth taxes for years. Why should we go down the same failed path? 
 

“The economy right now isn’t so hot. Americans need investment, growth, and opportunity. They don’t need heavy-handed, bureaucratic taxes that will hamper the recovery we so desperately need. Democrats, especially ones like Majority Leader Gonzalez, always act without thinking. They find a problem, come up with a simple, shallow solution that doesn’t work—and almost always involves making government bigger and meaner—and they just run with it. At least, that’s what the leaders of their party do in their insane run to the Left. We got a few moderates to listen to sense, but rest assured if Litzy Gonzalez, Nancy Pelosi, and Jos Biden keep the House this year, we’ll only see more of the same failing policy borrowed from socialists of yesteryear.”


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Christopher Drake

Republican, NY-2

Speaker of the United States House of Representatives

Former Chief Administrator - Rounds 4 & 5, Evil Arch-Conservative, Frequent Republican Player

 

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