Stuart Varney: California spearheading ‘tax the rich’ push with ‘pernicious,’ ‘evil’ proposal

During his latest "My Take," "Varney & Co." host Stuart Varney discusses the left's efforts to tax the rich as California proposes "the most pernicious and frankly evil" wealth tax, arguing the Democrats are trying to get into the capital Americans built.

STUART VARNEY: What is this? Tax the rich month? In the last ten days, legislators in New York, Illinois, Hawaii, Minnesota, Washington and Connecticut, Democrats have all proposed various ways to make the rich pay more. 

The most pernicious and frankly evil proposal comes from: California.

They want to tax wealth.

That’s always the response on the left: raise taxes, but a wealth tax is something else again. 

They're going after the value of rich people's assets: stocks, bonds, houses, land, farms.

It would be an annual tax on people with more than $50 million worth of assets. 

And they would have to pay even if they left the state. 

It’s like an exit tax.

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This is no way to end the California exit. 

340,000 people left the state last year, with most heading to Texas and Florida where there is no state income tax at all. 

They're not talking about a wealth tax in Austin or Tallahassee. 

Can you imagine the headache of calculating the value of your house or your business or your stocks every year?

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Imagine how many tax board employees the state needs to track down the money! 

But the left doesn't care. They've taxed income to the hilt: now they want to get into wealth, the capital you've built. 

It’s the way socialists think: "You've got more than me. That’s not fair. Give it to me now."

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