Fox Business Network's Maria Bartiromo railed against popular new Democrats proposals of raising taxes on the wealthy by admitting the rich would find ways to hide their money from the tax man.
Tax evasion is a crime, but the super rich have hired Congress to create endless loopholes for vast wealth to avoid taxation.
The Trump-supporting FBN host joined America's Newsroom today and criticized every new proposal the Democratic party is making regarding taxation of the rich.
Making the richest people in America pay at least some of their share is a horror show for Fox Business.
Fox News and Fox Business are in crisis mode, freaking out about these new proposals by AOC and Warren. It's hard for them to cover this story since their own polling shows support for taxing the rich.
Sandra Smith brought up Elizabeth Warren's proposal of taxing the unbelievably wealthy a mere 2% and highlighted a WSJ article that claimed this type of taxation was "government confiscation."
Maria agreed, "It is confiscation, because, the truth is, you can work your whole life, work really hard, achieve success, make money, and then get it taken away. Confiscated by the government."
Taxation is legal and proper and pro-American, Maria. That's not confiscation of property. if Trump seized private property under eminent domain to build his wall, then that's government confiscation.
And then she got honest for a moment.
She continued, "These policies oftentimes lead to unintended consequences where people will actually see that they're being overtaxed, see that they're being -- their money is being confiscated, and they will come up with various structures to hide income. And so, at the end of the day, the government is not getting that revenue anyway. I'm talking about legal structures, in some ways, where people will try their hardest to change the way their income is measured and that's one of the unintended consequences."
The very rich are doing that as we speak. They don't need any incentives to try and hide as much money as they can so they aren't taxed on it. Does anyone think that after Trump's moronic tax cuts (which are now coming back to bite him in the buttocks as Americans prepare their tax returns), they still won't use every trick in the book, legal or otherwise, to pay as little taxes as possible?
And the claim that nobody in America will be productive if they are taxed is another bald-faced lie.