Elizabeth Warren introduces a wealth tax

[citygator]

We need a single low tax rate for every dollar earned regardless of income

Its time for everyone to pay their fair share instead of only a few

It should be a very simple tax without any deductions for anything

All income taxed at one low rate for everybody

It's literally the dumbest thing ever. You are worked up that half the country split up $2T in income and the other half split $25T and you want blood from those who are dividing up that small pie? Why? Why does that make sense to you other than emotionally? All the excess income it takes to live a life is made by the top half. We are basically taxing income over life sustaining income. Everyone pays the same tax rate on the same income. Your first $40k gets taxed at the same rate someone's' last $40k is taxed at.

 

[22lcidw]

The bottom half only has 2.5% of the wealth, and the top 1% hold 30% of it.

That being said I oppose a tax on wealth. I support a lower threshold on the estate tax on the opulent wealth.

You have to believe in what you spout. The rich people in entertainment for an example are frauds. The awards show are the truth. Expensive dresses and outfits the same stars then go with their Communist dogma. Perhaps if they were wearing off the rack clothing that would be a start.

 

[Unkotare]

She would get more support with a flat tax sure enough.
...

Not in MA.

 

[Hafar1014]

The DOW will crash because owning stocks will not be profitable say good by to pensions and the best way to finance new businesses. Warren is a socialist and quite dumb as well. Money will flee the country seeking a safe heaven.

It's a tax on assets - "every dollar owned", including stock portfolios with unrealized gains. I'd bet peoples housing and property assessments are included in the net worth calculation.

It's always more welfare for people, nothing to pay down the national debt.

Government from cradle to grave.

Sigh....This is why I support common sense restrictions on the 19th amendment.

Sure, it won't go anywhere now but this is what we have to look forward to if the dems ever see total power again.h

 

[Toddsterpatriot]

I am not a fan of a wealth tax. If you had a proper income tax policy you wouldnt need a wealth tax.

What would a proper tax policy look like?

 

[Hafar1014]

Lisa. You dont make sense. It half the country. Are you suggesting half the country is a piece of shit grifter? They are average everyday people making little money and paying little in taxes. You guys get all worked up over how little people with no money pay in federal income tax but give a total pass to how little taxes are paid overall mostly from tax cuts to those people who do pay taxes. Its not envy its frickin math. Sometimes I wonder if you really understand what you are even talking about.

half the country pays zero income tax.

 

[martybegan]

I am not a fan of a wealth tax. If you had a proper income tax policy you wouldnt need a wealth tax. There are too many ways to hide your income even after death. The US tax code needs to address that... HOWEVER...

I would be fine with a one time wealth tax to reduce the debt levels in the US because those incomes have been hidden and avoided proper taxes.

So when all those people have to immediately convert hard assets to liquid assets, prices for those assets will drop requiring more selling, and more value drop...

If you want to destroy an economy, a wealth tax is a sure way of doing it.

 

[Unkotare]

You can bet your ass Warren would find a way not to pay a dime of it herself.

 

[1srelluc]

The DOW will crash because owning stocks will not be profitable say good by to pensions and the best way to finance new businesses. Warren is a socialist and quite dumb as well. Money will flee the country seeking a safe heaven.

Oh she has a plan for that too.....Tax money going overseas at 40%.

You just can't hate the vile dems enough.

 

[22lcidw]

It's literally the dumbest thing ever. You are worked up that half the country split up $2T in income and the other half split $25T and you want blood from those who are dividing up that small pie? Why? Why does that make sense to you other than emotionally? All the excess income it takes to live a life is made by the top half. We are basically taxing income over life sustaining income. Everyone pays the same tax rate on the same income. Your first $40k gets taxed at the same rate someone's' last $40k is taxed at.

Federal Tax is not the only one. There are federal, state, local and city taxes and fees and other costs which add up. Examples would be toll roads and bridge tolls. Sales taxes. also. The same for all and costing the poorer the most. Do expensive unions cost the communities much more than they are worth. Just examples.

 

[Mac-7]

It's literally the dumbest thing ever. You are worked up that half the country split up $2T in income and the other half split $25T and you want blood from those who are dividing up that small pie? Why? Why does that make sense to you other than emotionally? All the excess income it takes to live a life is made by the top half. We are basically taxing income over life sustaining income. Everyone pays the same tax rate on the same income. Your first $40k gets taxed at the same rate someone's' last $40k is taxed at.

This is essentially the same argument libs used against the smartest and most economically progressive individuals 100 years ago

Living standards have been raised for everyone to the point that the poor hardly need to raise a finger to earn food and shelter

A standard of living so high that migrants from africa and lain America risk everything they have including their lives to get here

Yes, the rich live pretty well

But with few exceptions they earned it

 

[martybegan]

This is essentially the same argument libs used against the smartest and most economically progressive individuals 100 years ago

Living standards have been raised for everyone to the point that the poor hardly need to raise a finger to earn food and shelter

A standard of living so high that migrants from africa and lain America risk everything they have including their lives to get here

Yes, the rich live pretty well

But with few exceptions they earned it

Or their ancestors earned it for them.

Middle class people have technology that replaces servants for so many things. Just watch a show like Downtown Abbey to see what was required to allow the rich of that time just to live like we do now.

 

[Mac-7]

What would a proper tax policy look like?

I already explained it to you in post #19

 

[Lisa558]

Lisa. You dont make sense. It half the country. Are you suggesting half the country is a piece of shit grifter? They are average everyday people making little money and paying little in taxes. You guys get all worked up over how little people with no money pay in federal income tax but give a total pass to how little taxes are paid overall mostly from tax cuts to those people who do pay taxes. Its not envy its frickin math. Sometimes I wonder if you really understand what you are even talking about.

I didn’t say any of that! Wow….but you leftists get incensed when it’s suggested that everyone pitch rather than give a total pass to half the country.

The top 10% pay the bulk of the income taxes, while the bottom 50% pay nothing. We see who is getting a total pass.

You’re so brainwashed and hateful that you lash out without making sense.

 

[Lisa558]

The DOW will crash because owning stocks will not be profitable say good by to pensions and the best way to finance new businesses. Warren is a socialist and quite dumb as well. Money will flee the country seeking a safe heaven.

She’s the same as Bernie Sanders.

 

[Lockback]

"Great idea! What could possibly go wrong?"

 

[Lockback]

She’s the same as Bernie Sanders.

She's a Communist.
The Democrats are cram packed full of 'em.

 

[Hafar1014]

She’s the same as Bernie Sanders.

One wonders why they believe in such profound failure. They must want the economy to crash so they can rebuild it as socialist economy. Sanders has been a life long communist and supporter of the USSR and Castro. Both failures and oppressive. Thats not a normal mind. Warren is no different

 

[M14 Shooter]

They must want the economy to crash so they can rebuild it as socialist economy.

The do not realize The Fall will mean the end of people like them.
People will be far too busy trying to survive to listen to their nonsense.

 

[Lockback]

The do not realize The Fall will mean the end of people like them.
People will be far too busy trying to survive to listen to their nonsense.

Images of pitchforks and torches seem appropriate.