No. of Recommendations: 8
Oh, Bernie's tax would hit the middle class big time.

Let's see...your mutual fund trades shares....oops, there's the Bernie tax on every transaction reducing your annual gains by a few tenths of a percent. or more if your fund trades frequently.

You sell shares in your IRA/401K to fund the RMD. Ooops, there's the Bernie tax on that transaction.

You decide to change allocations in your stock account. Sell some losers and some gainers for zero cap gains....but...there's the Bernie tax on those stock sales/purchases.......so now you're taxed.......

One of the stocks on the index like SP500 drops out...well, your fund sells it...there's the Bernie tax on index funds...then they tax what was added to the index fund .....another bite......

Oh, it's anyone with a stock account that will pay for Bernie's bill. Wall Street will find ways to avoid, like trading on foreign exchanges that will likely grow like weeds...and shares will be traded overseas day in and day out...and of course at night - big time - avoiding the Bernie bite.

Foolishly, he assumes that folks will just sit back and happily pay 2.2 trillion MORE in taxes to fund his give aways.....

t.
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