What is fueling Sen. Elizabeth Warren’s push for “universal child care, paid for by tax on ultra-millionaires”?
Does she sense some perverse lust within the middle class for loot? (She knows well that a regular American hates taxes, except when they are paid by people other than him, such as “the rich.” Then he loves taxes.)
Is it stagnating living standards due to her own party’s economic government interventionism?
Is it some wish to “liberate” mothers from taking care of their kids who will then become essentially wards of the state — which they already do when they enter government schools, but which will now occur at a much younger age?
If it’s the last of these, then let us learn from Mises:
To take away a woman’s children and put them in an institution is to take away part of her life; and children are deprived of the most far-reaching influences when they are torn from the bosom of the family.
Only recently Freud, with the insight of genius, has shown how deep are the impressions which the parental home leaves on the child.
From the parents the child learns to love, and so comes to possess the forces which enable it to grow up into a healthy human being. (Socialism, 105)
Economically, one “unintended” consequence of her wealth tax — which is not really a tax but outright confiscation and expropriation of existing fortunes — is that it reduces the incentive for the presently poor people to struggle to become rich. It breeds laziness and apathy which harms both them and society they would otherwise have benefited on their way from rags to riches.
It’s just another slick but failed socialist scheme.