When I started this thread, I was poking fun at Oeb's acronym, DPST - Democrat/Progressive/Socialist/Totalitarian. For the most part, Oeb and I agree on things that matter. However, I don't think you can necessarily label a Democrat or even a Progressive as a socialist.
Well, maybe I was wrong. Two Democrats, Ed Markey and Kirsten Gillibrand, and Independent Bernie Sanders introduced this jewel in the U.S. Senate, the Make Billionaires Pay Act:
https://www.cnbc.com/2020/08/06/sand...uckerberg.html
They would tax 60% of wealth gains made by billionaires between March 18, 2020 and January 1, 2021. They picked March 18 because that was a market bottom.
Let's look at the effect of this on, say, Elon Musk. Tesla stock was 361 on March 18, 2020, having fallen from 917 a month earlier. If the price of Tesla closes the year at where it is now, 1452.7, Musk would have to sell 45% of his ownership in Tesla to pay his tax bill.
So if that's not socialism what is?
You expect this kind of crap from Bernie Sanders, the so called Democratic Socialist. But mainstream Democrats? Well, maybe so. The party is going farther and farther to the left. Elizabeth Warren certainly will be on board with the Make Billionaries Pay Act.