Elizabeth Warren introduces a wealth tax

[citygator]

The deeper one.

Think about it.

I love how I look at your stupid posts from time to time and am quickly reminded why I have you on ignore.

It's ok. A lot of people are intimidated by me.

 

[martybegan]

It's ok. A lot of people are intimidated by me.

 

[Nostra]

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.

If all that stuff is free why does she need to tax more?


..

 

[Nostra]

If all that stuff is free why does she need to tax more?


..

Notice how Fauxcohontas says “50 members of Congress as if that’s huge. It’s less than 10%.

Another issue the Cult is on the wrong side of.

 

[LordBrownTrout]

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.

At least you you're the typical dem who doesn't hide that he loves taxes on everyone.

 

[Independent thinker]

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.

It's amazing that they are so blind to see that wealth taxes don't work. Several countries in Europe implemented wealth taxes and they didn't work. Every country there but one removed those wealth taxes for being ineffective and even in that one lone country who still has them the wealth tax hasn't been working - they just haven't gotten rid of it yet. But, that's not going to stop the rabid left.

 

[MarathonMike]

Before add a few more thousand pages to our 70.000 page tax code and make tax lawyers richer, how about root out the massive government fraud that we are ONLY NOW BEGINNING to unmask?

 

[Toddsterpatriot]

Under the bill, the country’s wealthiest 260,000 households would pay a 2% annual tax on fortunes valued at over $50 million and an additional 1% on the net worth of households and trusts above $1 billion. The legislation would also impose a 40% “exit tax” on ultrarich individuals who renounce their citizenship for evasion purposes and would give the Internal Revenue Service $100 million in new funding.

'The Current Tax Code Is Rigged,' Plus 6.2 Trillion Other Reasons to Tax America's Ultrarich | Common Dreams

Three Democrats reintroduced the Ultra-Millionaire Tax Act, which would generate an estimated $6.2 trillion in revenue by taxing US fortunes over $50 million.

www.commondreams.org

There are 135 million households in the United States, so it works out to less hardly one tenth of one percent of households. Not many. But revenue?

about 260,000 American families (approximately the top .15%) would be liable for the wealth tax in 2026 and that the tax would raise $6.17 trillion over the ten-year budget window 2026-2035, of which $0.74 trillion would come from the billionaire 1% surtax.

https://www.warren.senate.gov/imo/media/doc/ultra-millionaire_tax_act_score.pdf

That is some serious change. And I know, it like makes no sense. Until you understand this,

“Nearly 50% of all consumer spending now comes from the top 10% of earners."

'100% Completely Unsustainable': Billionaire Wealth Manager Issues New Warning About US Inequality | Common Dreams

Wealth inequality in the US has reached unsustainable levels, with the top 10% of earners now accounting for nearly half of all consumer spending.

www.commondreams.org

Like the article says, that is completely unsustainable. It doesn't matter what your politics are. That type of dynamic can not sustain a society, period.

The legislation would also impose a 40% “exit tax” on ultrarich individuals who renounce their citizenship for evasion purposes and would give the Internal Revenue Service $100 million in new funding.


At the beginning of 2026, an Institute for Policy Studies analysis found that the total wealth of US billionaires surged to $8.1 trillion last year—and the country’s top 15 billionaires saw their collective fortune grow from $2.4 trillion to $3.2 trillion,

How long would it take 15 billionaires to move $3.2 trillion offshore before Elizabeth Warren got her hands on any of it?

 

[Toddsterpatriot]

As if that is going to happen. If nothing else, they will borrow the money. I mean you people really are clueless. Probably be an interest only loan and they will write the interest off as an expense. LMAO.

Interest on personal loans is not deductible.

 

[citygator]

At least you you're the typical dem who doesn't hide that he loves taxes on everyone.

At least youre the typical idiot who has nothing but talking points the he cant support. I guarantee you I paid around 10Xs the income tax you paid last year. I just know math.... like its my job to know it. Any idiot can type no one should pay taxes and the government should be disbanded but that is idiotic.. from an idiot.

 

[1srelluc]

At least youre the typical idiot who has nothing but talking points the he cant support. I guarantee you I paid around 10Xs the income tax you paid last year. I just know math.... like its my job to know it. Any idiot can type no one should pay taxes and the government should be disbanded but that is idiotic.. from an idiot.

LOL....What happened, did your three martini lunch run over into a five martini one?