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John Odom, Letter to the Editor Published 12:22 p.m. CT April 13, 2021

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President Joe Biden and Sen. Elizabeh Warrens wealth tax would cause a disruption in the markets that could cause losses of value in the retirement and investment accounts of the middle class.

This is because the wealthys wealth is not in cash but largely in stocks, real estate and art. To pay a wealth tax they would have to sell large blocks of stock that would force market prices down for everyone invested in the markets.

Warren is not ignorant of the market disruption her proposed Wealth Tax could take. Indeed, it is the opening salvo toward government control of industry. The next step is for a responsible Congress to intervene and prevent the disruption in the markets that could cause the middle class to incur losses in their retirement accounts when significant stock liquidations occur as the wealthy prepare to pay their taxes.

The cure will be to require the taxes be paid by transferring stock to the government in a private sale.'' The government may even state what stocks it will accept. The end game is to have enough stock transferred to the government for the government to be able secure seats on the boards of selected companies which will eventually result in government representatives controlling senior management.

As long as we maintain free and fair elections, which are also under attack, the citizens can maintain some control, but the march toward government control of all aspects of our society is underway.

I, for one, do not think Warrens wealth tax is intended as a short-term solution to pay off massive debt, but a plan designed with a socialist outcome intended, probably with a lot of input from Sen. Bernie Sanders.

John Odom

Shreveport

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