"an income tax, not a WEALTH TAX'
The wealthiest people in the US -- Gates, Buffet and Ellison (numbers 1,2, and 3) are liberals. They pay virtually nothing in taxes compared to their wealth. To put that in perspective, if the average wage earner paid a penny in annual taxes -- one penny -- that would be more on percentage basis than paid by Gates, Buffet and Ellison.
The President wants to tax "the rich". The Republicans should propose a wealth tax on people with net worth greater than $30 Billion. And, TAKE IT ALL!!!