evasion, and there are so many loopholes, real estate investors and corps do not pay anything at all.
Look at Kushner and Trump, sitting pretty. No more Delaware company start up either. No more pay for play, and Warren can get the job done. I am so sick of those who do not want to pay taxes and horde their money. Its one thing not to over pay but tax evasion is another, close those loopholes.
Current examples[edit]
- Argentina: It is named Impuesto a los Bienes Personales, on assets above ARS 800,000 (US$48309.18), the annual rates are 0.75% for 2016, 0.50% for 2017, 0.25% in 2018, and they raise it in 2019 to 0.75%.
- Canada: British Columbia has recently implemented a tax on personal homes. The tax is in addition to regular property tax and begins at homes worth more than $3 million Canadian ($2.3 million US). The tax is 0.2% on the first million above the $3 million and 0.4% on any value above that. No recognition of mortgages, lien, or taxes due is taken into account.
- France: Until 2017, there was a solidarity tax on wealth on any net assets above €800,000, if your total net worth was €1,300,000 or more. Marginal rates ranged from 0.5% to 1.5%.[3] In 2007, it collected €4.07 billion, accounting for 1.4% of total revenue.[4] From 2018 onwards, it has been replaced by a wealth tax on real estate, exonerating all financial assets.[5]
- Spain: There is a tax called Patrimonio. The tax rate is progressive, from 0.2 to 3.75% of net assets above the threshold of €700,000 after €300,000 primary residence allowance.[6] The exact amount varies between provinces.
- Netherlands: There is a tax called vermogensrendementheffing. Although its name (wealth yield tax) suggests that it is a tax on the yield of wealth. It qualifies as a wealth tax, since the actual yield (whether it's positive or negative) is not taken into account in its calculation. Up to and including 2016, the rate was fixed at 1.2% (30% taxation over an assumed yield of 4%). From the fiscal year of 2017 onwards, the tax rate progresses with wealth. See Income tax in the Netherlands. In addition to the vermogensrendementheffing, owners of real estate pay a tax called onroerendezaakbelasting, which is based on the estimated value of the real estate they own. This is a local tax, levied by the city council where the property is located.
- Norway: 0.7% (municipal) and 0.15% (national) a total of 0.85% levied on net assets exceeding 1,480,000 kr as of 2017.[7] For tax purposes, the value of real estate assets are estimated to approximately 50% of the market value (25% if it is the taxpayer's primary residence).[8] The Conservative and Progress parties in the current government and the Liberal Party have stated that they aim to reduce and eventually eliminate the wealth tax.[9]
- Switzerland: A progressive wealth tax that varies by residence location. Most cantons have no wealth tax for individual net worth less than CHF 100,000 and progressively raise the tax rate on net assets with a top rate ranging from 0.13% to 0.94% depending on canton and municipality of residence.[10] Wealth tax is levied against worldwide assets of Swiss residents, but it is not levied against assets in Switzerland held by non-residents.[10][11]
- Italy: Two wealth taxes are imposed. One, IVIE, is a 0.76% tax imposed on real assets held outside Italy. The values of such assets are determined by purchase price or current market value. Property taxes paid in the country where the real estate exists can offset IVIE. Another tax, IVAFE, is 0.15% and is levied on all financial assets located outside the country, including, so far as the language seems to imply, individual pension schemes such as 401(k)s and IRAs in the US.
Wealth tax - Wikipedia
Got to admit the delusional are funny.
Who do you think wrote every line of our current tax code? It was not a poor person sitting in a room. It was congress. Where do you think the largest concentration of millionaires are? Congress.
Warren is poor right? She would never suggest something that she knows she and others would never pass just to get elected. Right?
Hey we get to sit around and say nothing when they give huge tax cuts to the rich, time for payback.
Summary of the Latest Federal Income Tax Data, 2017 Update
In 2015, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined. The top 1 percent of taxpayers paid $568 billion, or 39.04 percent of all income taxes, while the bottom 90 percent paid $428 billion, or 29.41 percent of all income taxes.
Payback? for what? and do you know that many of these rich people own or started companies that create jobs for other people? properties that they own, generate property tax for their communities already... why do the greedy MArxists in the democrat party want to put their greedy fingers where they have no place being?
Like good Marxist they will say they are doing it for the little guy, and its PAYBACK for the greedy rich.
They dont have many greedy rich left in Venezuela do they? nothing but just really really poor people everywhere, living the Marxist dream.
Do you know that the elephant is the biggest animal in the jungle and African plains? You could imagine that many of the other forest animals are jealous that the elephant gets to go wherever it wants.. whenever it wants. It doesn't have to worry about too much, like the poor little gazelle and chimpanzee do. One could imagine the gazelle and chimpanzee conspiring to get rid of the greedy obnoxious elephant... I mean, all they ever do is crash the jungle and break shit. But then, do you know what would happen if they actually succeeded in getting rid of the greedy old elephant?
What would happen is the eco system of the African plains would collapse. Elephants are responsible for digging those watering holes you see on the Nature channel when CNN isn't playing. Basically what happens is that when the rainy season comes, all those holes that the elephants dig, fill up with water ... so that in the DRY season the chimpanzee can come out of the tree, the gazelle and cheeta can all go grab a cold one.
Point being, without the elephant all the other animals who may walk for miles across the hot plains in search of that watering hole in the hot summer would be a sack of dried up leather and bones if not for the elephant.
Be careful what you wish for, your Marxist bretheren have a very very bad track record when it comes to caring for the little guy.