Sanders, Khanna to propose federal billionaires' wealth tax

[Dont Taz Me Bro]

They're grandstanding. This has no chance of passing a Republican Congress. Even if the Republicans lose control of Congress in November, it has no chance of being signed into law by Trump in his remaining two years. Regardless, it's a stupid idea. Wealth taxes do not work. This has been shown to be true over and over again by other countries who have attempted it. They always end up with lower-than-expected revenues. France, for example, attempted this ten years ago and had to abandon it. Congress doesn't need more money; they need to spend less.

• Sen. Bernie Sanders and Rep. Ro Khanna plan to introduce a bill to impose a federal wealth tax on billionaires, according to the senator's office.
• While progressives like Sanders have long called for taxing the rich at higher rates, many Democrats are now seizing on refreshed anti-billionaire animus as they campaign against Republicans on an affordability agenda.
• According to Sanders' office, the planned tax would raise $4.4 trillion in federal revenues without hiking taxes on any Americans with a net worth of less than $1 billion.

MSN

 

[rightwinger]

If we tax billionaires, they will leave us

 

[Toddsterpatriot]

According to Sanders' office, the planned tax would raise $4.4 trillion in federal revenues without hiking taxes on any Americans with a net worth of less than $1 billion.

Just like the income tax. It was also sold as "only a few at the top will pay".
This year, the income tax will hit any single person who makes over $16,100.

I'm sure the government would never ever do the same thing with a wealth tax........right?

 

[SassyIrishLass]

If we tax billionaires, they will leave us

Said California

 

[ColonelAngus]

It would be interesting to ask billionaires how they would respond to such a tax.

It is likely few would claim, "I will pay whatever the government wants, and I will not attempt to minimize the impact."

 

[rightwinger]

Said California

No Billionaires left in California

 

[SassyIrishLass]

No Billionaires left in California

Yeah they did

 

[Winston]

This has been shown to be true over and over again by other countries who have attempted it. They always end up with lower-than-expected revenues.

Yeah, look at Switzerland. No one ever puts money there.

 

[Doc7505]

No Billionaires left in California

<~~~~~~~~~~>​

Your buddy Newscum is driving them out one by one.

 

[pknopp]

The point that they could have attempted this under Biden (especially when this is what Biden ran on) but didn't shows it's now empty political rhetoric is correct.

 

[protectionist]

Warren Buffet called for higher taxes on the super-rich.

Billionaire Warren Buffet on Raising Taxes on the Rich: “I’m Fine with It”

The legendary investor thinks inequality has gotten out of hand.

money.com

 

[Blaster]

There will be no wealth tax. Trust me.

 

[Toddsterpatriot]

Warren Buffet called for higher taxes on the super-rich.

Billionaire Warren Buffet on Raising Taxes on the Rich: “I’m Fine with It”

The legendary investor thinks inequality has gotten out of hand.

money.com

While paying basically zero in taxes.

 

[protectionist]

If we tax billionaires, they will leave us

Not all of them.

 

[Billiejeens]

Yeah they did

I think the troll is saying(poorly) that there are none left.

 

[shockedcanadian]

If a billionaire offered to adopt me, I would be forced to graciously accept.

 

[ThisIsMe]

They're grandstanding. This has no chance of passing a Republican Congress. Even if the Republicans lose control of Congress in November, it has no chance of being signed into law by Trump in his remaining two years. Regardless, it's a stupid idea. Wealth taxes do not work. This has been shown to be true over and over again by other countries who have attempted it. They always end up with lower-than-expected revenues. France, for example, attempted this ten years ago and had to abandon it. Congress doesn't need more money; they need to spend less.

• Sen. Bernie Sanders and Rep. Ro Khanna plan to introduce a bill to impose a federal wealth tax on billionaires, according to the senator's office.
• While progressives like Sanders have long called for taxing the rich at higher rates, many Democrats are now seizing on refreshed anti-billionaire animus as they campaign against Republicans on an affordability agenda.
• According to Sanders' office, the planned tax would raise $4.4 trillion in federal revenues without hiking taxes on any Americans with a net worth of less than $1 billion.

MSN

Oh my gosh, I so want, with every fiber of my being, for this to pass. Democrat coffers will dry up very quickly.

 

[ThisIsMe]

Warren Buffet called for higher taxes on the super-rich.

Billionaire Warren Buffet on Raising Taxes on the Rich: “I’m Fine with It”

The legendary investor thinks inequality has gotten out of hand.

money.com

Notice he’s not volunteering to send extra money. He’ll say that, but he never actually intends to pay it. If he really felt that the rich do not pay enough he could very easily just write a check to the government every year for how much ever he thinks that they should pay. It’ll never happen .

 

[ThisIsMe]

There will be no wealth tax. Trust me.

They are going to propose it and let the Republicans shoot it down and then tell everybody hey look we tried it but the for the rich Republicans shut it down. Even though they had every opportunity to pass it when Obama was president when they had a filibuster proof majority and they didn’t do it.

 

[ThisIsMe]

If a billionaire offered to adopt me, I would be forced to graciously accept.

It would be a tough decision, but somebody’s gotta do it