Part 6/8:
Looking beyond day-to-day heavy taxation, residents face the threat of estate taxes that can seize most of their assets upon death, including savings, investments, and property. The government’s appetite for wealth is insatiable—adding taxes at every stage of wealth transfer. The potential introduction of a wealth tax—mandatory appraisals of all personal property at the state level—would be yet another tool to seize assets.
This tax involves appraisers visiting individuals’ homes, assessing the value of everything from luxury cars and furniture to gold coins. Even assets that have already been taxed when purchased could be taxed again, leading to what many interpret as systemic confiscation akin to communism, echoing regimes like Cuba, Vietnam, and North Korea.