Billionaire (or is it Millionaire or maybe Thousandaire) Boogey-Men

May 18, 2026 MountainFinchPost

May 12, 2026

I am not writing this article because I think billionaires are the salt of the Earth. I am writing this article because the Democrats are using billionaires as the camel nose in the tent, not to just get all their income and assets, but to get your income and assets.

I estimated the net worth of billionaires in the US, most of which includes the Forbes 400 (The Forbes 400 List 2025 – The Richest People in America Ranked), and came up with about 8 trillion dollars.

The Democrats are pushing these people as boogey-men (or women) in an attempt make you angry and get your vote and here’s their plan:

they convince you that you are being suppressed by the billionaires (they are destroying your rights and stealing your livelihood) and get your vote because, after all, it’s just greedy billionaires
they impose a new expansive tax, called ad valorem, on their wealth (some propose outright confiscation) – the ad valorem tax the Democrats are salivating over looks at the value of ALL of your assets (everything) and taxes you on it – ad valorem exists now to some extent, typically on real estate, but it may also include other belongings such as vehicles
they play #2 for a short period of time, continue their vote-buying, waste, fraud and abuse schemes, then tell you they need go to the millionaires since it’s not enough
they play #3 for a short period of time, continue their vote-buying waste, fraud and abuse schemes, then tell you they need go to you since it’s not enough

Now they have you by convincing you they only wanted to go after the billionaires.

When the income tax was instituted in 1913 (History of US Income Tax: Complete Timeline 1861-2025), the politicians told the public, “don’t worry, it will only impact people making above $3,000 per year.” Yes, 1% over $3,000 and 7% over $500,000. This only impacted 3% of US households. I don’t need to explain what happened in the next 100+ years with who was impacted.

Let’s say that the politicians get to confiscate this $8 trillion. This is confiscation from people who know how to be successful creating products, services, businesses, jobs, economic growth and even taxes. In many ways, these people took on enormous risks and made huge sacrifices to follow a vision which often ran up against walls but they persisted.

But just as bad, this value is not cash on hand. It’s locked up in real estate, stocks, bonds, company equity, business shares, jewlery, cars, art, etc. It just doesn’t show up with a finger snap. Where does it go, government bureaucrats? Wow! Once this is taken, all of these businesses and companies fold-up and the creators no longer have resources to create more. But a system that does not create and is known for vote-buying, fraud, waste and abuse schemes will now have these resources.

Keep in mind that the US federal budget is about 7 trillion dollars. Confiscating all the billionaires’ wealth provides just over 1 year of the US federal budget and we have not included State budgets. Include that and now we’re talking less than 1 year. Poof, gone! Next, are the millionaires.

Still don’t believe that? Right now, in New Mexico one of the Democrat candidates for Governor is pushing ads about their Democrat opponent in the primary being a millionaire which obviously means he works with Trump and just wants to take away your rights. Oh my! Never mind the plethora of Democrat millionaires or that being a millionaire is no longer considered rich. I am stunned that Trump would spend much time with “just a millionaire.” I still remember my family being friends with another family who were millionaires, on paper. They owned a large cattle ranch in Florida but the father and his sons (and occasionally myself) all worked that ranch. Yet, the father had a full-time job outside the ranch and the sons also worked outside jobs. Their lifestyle was middle-class at best.

But this is about more than just taking from billionaires. This is a new tax that Democrats have been, to repeat, salivating over for years. It’s a tax on everything you own, your furniture, your cars, your real estate, your jewelry, your ownership, your cash, your wine (or beer can) collection, your dinnerware, your equity in a company, your shares of a business, your stocks, maybe even your bonds, your art, your marble collection, your desktop computer, your pets (yes, Fifi is included), your shoe collection, even the shirt on your back, etc., etc.

Remember this is just on perceived market value. You are being taxed on something for which no money has been received, just the value if you sell it based on an estimation likely from government bureaucrats. This is also called unrealized gains which means the value of your stocks, shares, equity in businesses and companies even if you’ve received no actual money for it.

How do you like listing everything you own so the government can fleece you? I hear you. You’re saying my net worth is only 100 thousand dollars. Hmmmm? Well, the government doesn’t know that. Once the tax is passed, everyone will have to audit their assets and tell the government so it can determine if you should be taxed or not. You will do that at your expense. Got it?

Shockingly, occasionally a billionaire will appear to support some version of this effort. Not every billionaire is smart about everything. These people have already made their money and assume they will have some control over the system, allowing them to be exempted or maybe participate in the goodies that are re-distributed. The foolish exist at all levels.

One approach the politicians make, to convince you to give them more power over you, is to say that the billionaires don’t pay their fair share in taxes. This is a complete misuse of the word “taxes” and the phrase “fair share.” Congress writes the tax laws which includes beneficial treatment for starting and growing businesses, developing products and services and taking investment risks with your own money. Often, people lose money in these activities. The reason for these beneficial treatments is to encourage people to take risks that create economic growth, beneficial products and services, new jobs and even, drum-roll please, generate more taxes. While I applaud workers who are working for someone else, such workers do not usually take on these risks and make the same sacrifices. I have worked for someone else most of my life.

Some billionaires even propose that they are not paying their fair share, giving power to these politicians. I guarantee they are getting something for their “support.” The claim is that they pay less in taxes than a secretary. But this is misleading at best. It is conceivable that they might pay less by percentage but that is because of the beneficial treatment I mentioned earlier. The secretary has not likely put his/her assets and resources at risk to create a business that might fail. Even if someone actually paid less than the secretary, I guarantee there are politician approved (by both political parties) types of investments that got certain benefits and/or there are mind-numbing losses involved. No one tells you that part.

You know if one of these billionaires thinks he/she should pay more, I have no doubt that there is a simple mechanism to pay what you think is your fair share. Write your check to the US Treasury today.