Varney: The left will try to grab Wall Street wealth

FOX Business' Stuart Varney, during his latest "My Take" on "Varney & Co.," argued Democrats will respond to rising stock market wealth with more taxes. 

STUART VARNEY: The total value of America’s stock market just hit the 31st record of the year!

The Wilshire Index puts the value of all stocks at $45 trillion. That’s a pile of wealth!

And it’s up $5.9 trillion just in 2021. 

The socialists look at this and they're furious. All that money, and they can't get their hands on it. But watch out, they're going to try. 

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They desperately need the cash to build their socialist dream: free health care, free education, free money, the Green New Deal -- they all cost a fortune. So, go after the last untapped pool of wealth: Wall Street!

The left will try to grab that wealth in three ways:

1) Elizabeth Warren's wealth tax: she would take, literally take, money out of the investment accounts of wealthy people. It’s not really a tax: it is simply the seizure of wealth!

2) A doubling of the capital gains tax. Sell stocks at a profit, and the left would take up to 43% of your gain!

3) A huge increase in estate taxes. The left will tax much more of your estate, so you can pass along much less!

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They're going after stock market wealth. They can't raise income taxes -- that won't bring in the kind of money they need. They could raise consumption taxes, like a gas tax, but that hurts the poor far more than the rich.

So they are down to their last good option: grab a chunk of that $45 trillion worth of stock market wealth.

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Jealousy, envy, anger -- those are the emotions of the left. And they will be on full display as they come after you and your money.