georgephillip
Diamond Member
Can you say Norway?
How about Wealth Tax??
"Times are tough. Someone has to pay. Why not start with those who can most afford it?...
"In Norway, for example, you pay one percent of your net worth in addition to income tax.
"What if we imposed a Norwegian-style wealth tax on the top one percent of U.S. households?
"Were not talking upper middle class here: the poorest among them is worth a mere $8.3 million.
"This top one percent owns 35 percent of all wealth in the United States.
'Such a wealth tax would raise $191.1 billion each year (one percent of $19.1 trillion), a significant attack on the deficit,' Leon Friedman writes in The Nation. 'If we extended the tax to the top 5 percent, we could raise $338.5 billion a year (one percent of 62 percent of $54.6 trillion).'
Tell the rich to pay up or pack up.
How about Wealth Tax??
"Times are tough. Someone has to pay. Why not start with those who can most afford it?...
"In Norway, for example, you pay one percent of your net worth in addition to income tax.
"What if we imposed a Norwegian-style wealth tax on the top one percent of U.S. households?
"Were not talking upper middle class here: the poorest among them is worth a mere $8.3 million.
"This top one percent owns 35 percent of all wealth in the United States.
'Such a wealth tax would raise $191.1 billion each year (one percent of $19.1 trillion), a significant attack on the deficit,' Leon Friedman writes in The Nation. 'If we extended the tax to the top 5 percent, we could raise $338.5 billion a year (one percent of 62 percent of $54.6 trillion).'
Tell the rich to pay up or pack up.