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Tipsheet

Dems Want to Tax the Rich But Home Depot's Co-Founder Sees Massive Flaws in Their Plan

Home Depot co-founder Bernard Marcus on Monday told Fox News' Neil Cavuto that Democrats want to tax rich people for all of their proposed social programs but, eventually, they'll run out of people to tax.

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"A lot of people are okay with taxing guys like you, as long as it's not them," Cavuto said. 

Marcus had a blunt response.

"No, Neil, there aren't enough people like me to pay for it," the billionaire replied. "Let's face it: if they took away all the money I have, of all the money of all the billionaires in America, and all the wealthy people, they still wouldn't have enough money to pay for all the that they want to do. It's insanity."

"This is called not being able to add one and one," Marcus explained. "They come up with seven while everyone else comes up with two. I don't know how they justify what they talk about."

According to the billionaire, the math doesn't add up, especially when Medicare for All is factored in.

"Bernie Sanders is at least honest about it and said, 'Oh, we're gonna have to tax everybody.' Well, that means middle-class America. You gotta pay for it," he said. "You think you're gonna get it for nothing. You gotta pay for it. And if he thinks he's going to tax every rich person in America, yeah, go ahead and do it. And who's going to invest money in jobs? Who's going to invest money in creating new things and new treatments for everybody else? It's the philanthropists, it's the wealthy people that do it."

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Marcus said he's not "justifying the wealth" but he's just being honest about how things really are. 

The Home Depot co-founder is right on the money. Everyone is quick to say they want to tax the rich and the wealthy for things like Medicare for All, but they don't realize they too will face tax hikes. They think they're immune from it, that only millionaires and billionaires will have to pay. But the very people who make these demands are usually A) employed by the wealthy and B) think they shouldn't have to contribute themselves. It's total hypocrisy.

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