Elizabeth Warren revives campaign idea, proposes wealth tax on 'ultra-millionaires', along with co-sponsor, Seattle Congresswoman Pramila Jayapal

[basquebromance]

someone tell Pocahontas wealth is a good thing!

Elizabeth Warren proposes wealth tax on 'ultra-millionaires'

Now that Democrats control the White House and Congress, President Joe Biden and other party leaders are pushing to spend big to revive the economy and address income inequality.

edition.cnn.com

 

[Oddball]

Never going to fly....Will require a constitutional amendment

 

[basquebromance]

with any luck, Warren will be president one day...but yeah, luck, she'll need a lot of that

 

[basquebromance]

Pocahontas has to prove it that this will work...until then, i'm voting against it when it comes up for a Senate vote

 

[Turtlesoup]

someone tell Pocahontas wealth is a good thing!

Elizabeth Warren proposes wealth tax on 'ultra-millionaires'

Now that Democrats control the White House and Congress, President Joe Biden and other party leaders are pushing to spend big to revive the economy and address income inequality.

edition.cnn.com

Warren is an EXTORTIONIST-----------she proposes these regulations that will bankrupt whoever she is targeting, and then drops them or puts loopholes in IF THEY DONATE TO HER GREEDY ASS.

 

[Anathema]

Not a chance in Hell. Even if it were to pass, the only thing it’s oils do is to move the wealth and citizenship (and possibly businesses) of the ultra/wealthy out of the United States permanently.

 

[SassyIrishLass]

Fauxahontas is a fraud and one sly but stupid bitch

 

[basquebromance]

NOT IN MY BACKYARD!

 

[Jets]

Congress can pass it via legislation, but the Supreme Court would likely rule it unconstitutional.

 

[Mikeoxenormous]

someone tell Pocahontas wealth is a good thing!

Elizabeth Warren proposes wealth tax on 'ultra-millionaires'

Now that Democrats control the White House and Congress, President Joe Biden and other party leaders are pushing to spend big to revive the economy and address income inequality.

edition.cnn.com

At one time, it was just millionaires people like Fauxahontas and crazy Bernie were attacking. Now that they have their millions, now it is the ultra.....Stupid fucks who vote Prog Democraps...

 

[Penelope]

The three Democrats unveiled the Ultra-Millionaire Tax Act on Monday morning. It would levy a 2% annual tax on the net worth of households and trusts between $50 million and $1 billion as well as a 1% annual surtax on assets above $1 billion, for a 3% tax overall on billionaires.
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they wouldn't even miss it.

 

[HenryBHough]

Will Hunter break with the Big Guy over this?

 

[protectionist]

The three Democrats unveiled the Ultra-Millionaire Tax Act on Monday morning. It would levy a 2% annual tax on the net worth of households and trusts between $50 million and $1 billion as well as a 1% annual surtax on assets above $1 billion, for a 3% tax overall on billionaires.
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they wouldn't even miss it.

If that is what the %s are, then you're right. they would hardly notice it. Warren and other Democrats wouldn't propose a large tax on millionaires, because they would lose a lot of support >> movie stars, pro atheletes, all the Wall St millionaires who donated to Hillary Clinton & Biden, big tech, etc

 

[basquebromance]

FOX News reports:

The 100 richest Americans would see their collective fortune shrink by $78 billion each year under a wealth tax introduced Monday by Sen. Elizabeth Warren and her progressive allies, according to a new analysis by Bloomberg News.

The proposal, known as the "Ultra-Millionaire Tax," would impose a 2% annual tax on the net worth of U.S. households $50 million and above, and would add an additional 1% levy on fortunes exceeding $1 billion. It's nearly identical to the wealth tax that Warren introduced during her 2020 presidential campaign.

That would mean Amazon founder Jeff Bezos, the richest person in the world, would pay an additional $5.4 billion in taxes if President Biden signed the legislation into law, according to an updated wealth tax calculator released by Warren. Tesla CEO Elon Musk would also owe roughly $5.4 billion in taxes, while Microsoft founder Bill Gates' tax bill would increase by about $4.1 billion. Facebook CEO Mark Zuckerberg would have to fork over an additional $3 billion.

 

[basquebromance]

Dem Senate Candidate in Pennsylvania, leading in all the polls

 

[scruffy]

someone tell Pocahontas wealth is a good thing!

Elizabeth Warren proposes wealth tax on 'ultra-millionaires'

Now that Democrats control the White House and Congress, President Joe Biden and other party leaders are pushing to spend big to revive the economy and address income inequality.

edition.cnn.com

lol

'Seattle congresswoman".

That should be your first clue right there.

So Warren's in bed with the Squad now? (I kind of figured she rolled that way, I wasn't going to say anything though).

Yeah, lefties don't like rich people. They're the jealous type, they're like "the system fucked me, why ain't I rich too".

 

[Mikeoxenormous]

Dem Senate Candidate in Pennsylvania, leading in all the polls

Elon Musk last year, paid in over 11 billion dollars in taxes. Tell me, do you pay in 11 billion in taxes? Of course the federal government spends more than it takes in, how about a 50% cut in spending for the next 5 years? Then the spending would be less than it takes in.

Elon Musk’s Sales of Tesla Stock Likely Give Him a Tax Deduction
Elon Musk paid about $11 billion in taxes in 2021. The Tesla CEO might get some of that back …

 

[scruffy]

Dem Senate Candidate in Pennsylvania, leading in all the polls

You are a strange, strange poster. I haven't figured you out yet. I like you though. You seem to have a brain. (Not always on display in every thread, but I've seen it, it's definitely there).

I like things (and people) that are different and complex and enigmatic and hard to pin down. (Except if they get too slithery, then I don't like them anymore).

 

[CrusaderFrank]

The government spends $4Trillion annually, go after the government. Reduce the government by 2% annually

 

[scruffy]

Elon Musk last year, paid in over 11 billion dollars in taxes. Tell me, do you pay in 11 billion in taxes? Of course the federal government spends more than it takes in, how about a 50% cut in spending for the next 5 years? Then the spending would be less than it takes in.

Elon Musk’s Sales of Tesla Stock Likely Give Him a Tax Deduction
Elon Musk paid about $11 billion in taxes in 2021. The Tesla CEO might get some of that back …

He did, really?

Wow. Just wow.

That's like 1/4 of what he just paid for Twitter. (40-ish billion, right?)

Amazing. No one can say THIS guy doesn't pay his fair share.

11 billion in one year? WTF would you do with 11 billion dollars?

I think I'd be like that guy in NY that used to ride down 2nd Ave throwing hundred dollar bills out of his convertible at Christmas.