Wealth Tax: Yeah! Why do Warren Buffett and Bill gates need so much money in their Trust?

[jc456]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

That's about half of what we spent on stimulus in the past 2 years, and even that is never going to pass. A 10% surtax?

We'd better figure out something to address wealth inequality and pay down the national debt or we'll all be F'd. Cleaning up and simplifying a tax code that enables a company like Amazon to pay nothing or a cheat like Rump to pay $750 two years in a row is also essential.

Bloomberg - Are you a robot?

www.bloomberg.com

Well, imo wealth disparity is just because the % of income growth in the top 1% and more so the top .1% grew much faster than workers' incomes, and their taxes did not rise in % to their income growth. The supply siders and tools of Norquist who dream they too could invent the computer will say "but the top 10% pay by far most of the total taxes." While that's true, it's actually evidence of the unequal share of who earned the increases in gnp. It's totally opposite to what occurred from 1950-1980 when the middle class emerged. Partially it was the decline in unions and globalization.

We taxed the shit out of the rich before Reagan. I'd say our problem was not how much we taxed them, but the ways we let them avoid any tax by not earning profit on their "nut." But we had the Reagan boom because so much money sought productive investments. Now we have the opposite problem. Not enough places to invest. So we have housing and equity bubbles faster than we did before.

Our wage problems are from too many near monopolies and wage collusion. We had super low unemployment and wages barely moved.

Well 1% own most of American equities. And it's hardly in their self interest to give raises.

Then how do they pay down the debt?

 

[Andylusion]

We will need to pay off debt somehow.

Worked so well in France.

France's Reckoning: Rich, Young Flee Welfare State

France's day of reckoning has arrived: Its wealthy, best and brightest are saying goodbye to a nation they believe doesn't want them to succeed or become rich.

www1.cbn.com

"The entrepreneurial young people, they're going to London," Paris economist Jacob Arfwedson said. "They're going to Asia; they're going to the United States because they want to achieve something that is not automatically taken away by a state that says, 'You have, therefore I take it.'"

Yeah, that was a brilliant policy. By all means try it here, and see what happens. I'll be begging for Trump to be President again in a few years.

 

[hadit]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

We should stop making employers send in their employee's taxes and people should have to write a check and pay quarterly taxes.

After that we should make tax day the day before election day so people will still be sore from the big wet bite the fucking government just took out of their asses.

That is a fun idea. We probably would have too many people owing however...

And that's the point. When enough people realize just how much they're paying in taxes and have to pay it all themselves, they'll get PO'd enough to make a difference. My guess is most people who get paid hourly don't even look at the gross amount on their paycheck.

 

[hadit]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

"Wouldn't even notice it"? Get real, they didn't get rich by ignoring things like a 2% reduction in net worth. They would not only notice it, they would immediately make it disappear, along with the jobs they create and the money they spend in this country. They can afford to hire the armies of tax attorneys all the rich liberals use to avoid taxes while complaining they don't pay enough.

 

[struth]

We will need to pay off debt somehow.

You tax the so called rich at 100% and still not pay off the debt.

Sooner or later people who make 100K a year will be called "The Rich"

If people start paying more in taxes it becomes political suicide to increase spending. People hate taxes. Cutting taxes fuels spending.

When did we ever cut spending and raise taxes?

The reality is that after every tax cut, we have seen increases in tax revenue. Spending, and frankly medicare and medicaid....are the largest drivers of Debt....the only people willing to try and reform those programs are Republicans....anytime it's brought up the leftist and their propaganda machine claims the GOP wants to kill Grandma....(which is ironic given what the left did in NY during Covid)

 

[evenflow1969]

Do you think Elon Musk and Jeff Bezo even care about paying off the debt?

Who cares wealth tax ove 50 million they have no choice. It would not change their life style one little bit if that is what you are getting at. No the would not even feel it.

 

[evenflow1969]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

"Wouldn't even notice it"? Get real, they didn't get rich by ignoring things like a 2% reduction in net worth. They would not only notice it, they would immediately make it disappear, along with the jobs they create and the money they spend in this country. They can afford to hire the armies of tax attorneys all the rich liberals use to avoid taxes while complaining they don't pay enough.

Like fuck they are going to just close shop because of it. Your a fucking moron.

 

[georgephillip]

Lizzy Cheekbones teamed up with Bernie "Please may I have another screwing over at the voting Booth" Sanders to propose a "wealth tax"

Liz and Bernie should argue in favor of extending our existing wealth (property) tax beyond land to include the category of wealth than makes up the bulk of the one percent's net worth:

"We call this already existing levy the 'property tax,' and almost all Americans feel its pinch — with one exception.

"The rich.

"America’s current 'wealth tax' only taxes the category of wealth that makes up the bulk of the net worth of average Americans.

"The financial assets that make up the bulk of wealthy people’s net worth — stocks and bonds, for instance — face no wealth tax.

"MARCH 2, 2021
The Average American Pay Tax on Half of Their Wealth, Shouldn’t Rich Americans?"

 

[hadit]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

"Wouldn't even notice it"? Get real, they didn't get rich by ignoring things like a 2% reduction in net worth. They would not only notice it, they would immediately make it disappear, along with the jobs they create and the money they spend in this country. They can afford to hire the armies of tax attorneys all the rich liberals use to avoid taxes while complaining they don't pay enough.

Like fuck they are going to just close shop because of it. Your a fucking moron.

Some would close up, others would simply move. What, do you actually believe the wealthy would just sit still and agree to lose 2% of their wealth every year without taking steps to avoid it as much as possible? It is to laugh politely, then return to adult conversation.

 

[Brain357]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

You're demented it would raise $43 Trillion! Pay for the Green New Deal and the New Green Deal!!

Eat the rich!!!

Tax the rich, feed the poor
'Til there are no rich no more!! Yes!! Alvin Lee, economic genius!

If we have rich and poor and we tax the rich out of existence, what are we left with??? That's right! Venezuela!

So far the rich keep getting tax cuts. I think they will be ok.

No they don’t, but your massers told you that!

nor do you know who the job creators are master told you to shut up

Yes they have actually.

 

[Brain357]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

You're demented it would raise $43 Trillion! Pay for the Green New Deal and the New Green Deal!!

Eat the rich!!!

Tax the rich, feed the poor
'Til there are no rich no more!! Yes!! Alvin Lee, economic genius!

If we have rich and poor and we tax the rich out of existence, what are we left with??? That's right! Venezuela!

So far the rich keep getting tax cuts. I think they will be ok.

Why does Gates NEED $50 Billion? Can you think of single reason?

Not an issue if need.

 

[Brain357]

We will need to pay off debt somehow.

Worked so well in France.

France's Reckoning: Rich, Young Flee Welfare State

France's day of reckoning has arrived: Its wealthy, best and brightest are saying goodbye to a nation they believe doesn't want them to succeed or become rich.

www1.cbn.com

"The entrepreneurial young people, they're going to London," Paris economist Jacob Arfwedson said. "They're going to Asia; they're going to the United States because they want to achieve something that is not automatically taken away by a state that says, 'You have, therefore I take it.'"

Yeah, that was a brilliant policy. By all means try it here, and see what happens. I'll be begging for Trump to be President again in a few years.

Where is there lower taxes our rich would go to?

 

[Brain357]

We will need to pay off debt somehow.

You tax the so called rich at 100% and still not pay off the debt.

Sooner or later people who make 100K a year will be called "The Rich"

If people start paying more in taxes it becomes political suicide to increase spending. People hate taxes. Cutting taxes fuels spending.

When did we ever cut spending and raise taxes?

The reality is that after every tax cut, we have seen increases in tax revenue. Spending, and frankly medicare and medicaid....are the largest drivers of Debt....the only people willing to try and reform those programs are Republicans....anytime it's brought up the leftist and their propaganda machine claims the GOP wants to kill Grandma....(which is ironic given what the left did in NY during Covid)

The reality is that tax cuts always lead to spending increases.

 

[struth]

We will need to pay off debt somehow.

You tax the so called rich at 100% and still not pay off the debt.

Sooner or later people who make 100K a year will be called "The Rich"

If people start paying more in taxes it becomes political suicide to increase spending. People hate taxes. Cutting taxes fuels spending.

When did we ever cut spending and raise taxes?

The reality is that after every tax cut, we have seen increases in tax revenue. Spending, and frankly medicare and medicaid....are the largest drivers of Debt....the only people willing to try and reform those programs are Republicans....anytime it's brought up the leftist and their propaganda machine claims the GOP wants to kill Grandma....(which is ironic given what the left did in NY during Covid)

The reality is that tax cuts always lead to spenanding increases.

not always, the GOP was able to cut spending in the 90s and do massive entitlement reform which lead to a "balanced" budget.

When have tax increases ever lead to spending cuts? That was your claim.....you said it would be political sucide to raise taxes and spending....when has anyone cut spending after raising taxes?

 

[Brain357]

We will need to pay off debt somehow.

You tax the so called rich at 100% and still not pay off the debt.

Sooner or later people who make 100K a year will be called "The Rich"

If people start paying more in taxes it becomes political suicide to increase spending. People hate taxes. Cutting taxes fuels spending.

When did we ever cut spending and raise taxes?

The reality is that after every tax cut, we have seen increases in tax revenue. Spending, and frankly medicare and medicaid....are the largest drivers of Debt....the only people willing to try and reform those programs are Republicans....anytime it's brought up the leftist and their propaganda machine claims the GOP wants to kill Grandma....(which is ironic given what the left did in NY during Covid)

The reality is that tax cuts always lead to spenanding increases.

not always, the GOP was able to cut spending in the 90s and do massive entitlement reform which lead to a "balanced" budget.

When have tax increases ever lead to spending cuts? That was your claim.....you said it would be political sucide to raise taxes and spending....when has anyone cut spending after raising taxes?

Yes after the first Bush increased taxes. Deficits have never decreased after tax cuts. Well not in the last 40 years since deficits have exploded.

 

[struth]

We will need to pay off debt somehow.

You tax the so called rich at 100% and still not pay off the debt.

Sooner or later people who make 100K a year will be called "The Rich"

If people start paying more in taxes it becomes political suicide to increase spending. People hate taxes. Cutting taxes fuels spending.

When did we ever cut spending and raise taxes?

The reality is that after every tax cut, we have seen increases in tax revenue. Spending, and frankly medicare and medicaid....are the largest drivers of Debt....the only people willing to try and reform those programs are Republicans....anytime it's brought up the leftist and their propaganda machine claims the GOP wants to kill Grandma....(which is ironic given what the left did in NY during Covid)

The reality is that tax cuts always lead to spenanding increases.

not always, the GOP was able to cut spending in the 90s and do massive entitlement reform which lead to a "balanced" budget.

When have tax increases ever lead to spending cuts? That was your claim.....you said it would be political sucide to raise taxes and spending....when has anyone cut spending after raising taxes?

Yes after the first Bush increased taxes. Deficits have never decreased after tax cuts. Well not in the last 40 years since deficits have exploded.

He signed that tax increase in 90, the next year the deficit increased over 4percent, then we went into a Recession.

Yes, in the 90s during Clinton, after the GOP took Congress, they cut taxes, and the deficit decreased, we actually had a budget surplus.

Deficits have increased, after Kennedy, Bush Jr, and Trump's tax cuts, but revenue exploded.....spending, mainly entitlement spending, which is the largest driver of debt, goes unreformed despite the numerous warning and attempts by the GOP

 

[evenflow1969]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

"Wouldn't even notice it"? Get real, they didn't get rich by ignoring things like a 2% reduction in net worth. They would not only notice it, they would immediately make it disappear, along with the jobs they create and the money they spend in this country. They can afford to hire the armies of tax attorneys all the rich liberals use to avoid taxes while complaining they don't pay enough.

Like fuck they are going to just close shop because of it. Your a fucking moron.

Some would close up, others would simply move. What, do you actually believe the wealthy would just sit still and agree to lose 2% of their wealth every year without taking steps to avoid it as much as possible? It is to laugh politely, then return to adult conversation.

Bull shit.. They should pay their fair fucking share. Not one fucking job would be lost. Go suck a billionaires dick.

 

[hadit]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

"Wouldn't even notice it"? Get real, they didn't get rich by ignoring things like a 2% reduction in net worth. They would not only notice it, they would immediately make it disappear, along with the jobs they create and the money they spend in this country. They can afford to hire the armies of tax attorneys all the rich liberals use to avoid taxes while complaining they don't pay enough.

Like fuck they are going to just close shop because of it. Your a fucking moron.

Some would close up, others would simply move. What, do you actually believe the wealthy would just sit still and agree to lose 2% of their wealth every year without taking steps to avoid it as much as possible? It is to laugh politely, then return to adult conversation.

Bull shit.. They should pay their fair fucking share. Not one fucking job would be lost. Go suck a billionaires dick.

Wow, you're really making your point there Sparky. I'm sure the cool kids in your sandbox are duly impressed. Notice that what you think SHOULD happen doesn't usually ACTUALLY happen. What would actually happen is this, every wealthy person would go to their tax attorney's office and draw up a plan to reduce their exposure as much as possible. If the wealthy person is just sick of dealing with a hostile government out to take as much as it can at gunpoint, he'll simply move the wealth, possibly transfer its ownership for example to his corporation. Bill Gates could become a simple employee who gets paid a modest salary while Microsoft makes available for his personal use multi-million dollar homes, planes, cars, etc. Failing that, there are multiple countries out there that would roll out the welcome mat for a billionaire to bring his money and live large. Heck, Bill Gates could just headquarter Microsoft in Ireland and duck the whole thing, the heck with American workers if he wanted to replace them. Your simplistic little mind has no idea what a truly creative wealthy person with an army of tax attorneys can accomplish to avoid paying taxes, does it? There's a reason Warren Buffet pays low tax rates, and it's not because he's stupid. Change the laws and watch him change his behavior, because despite his whining that he doesn't pay enough in taxes, he'll fight tooth and nail to pay as little as possible.

Morons always assume the wealthy are just going to sit idly by and watch their taxes go up without doing anything about it.

 

[evenflow1969]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

"Wouldn't even notice it"? Get real, they didn't get rich by ignoring things like a 2% reduction in net worth. They would not only notice it, they would immediately make it disappear, along with the jobs they create and the money they spend in this country. They can afford to hire the armies of tax attorneys all the rich liberals use to avoid taxes while complaining they don't pay enough.

Like fuck they are going to just close shop because of it. Your a fucking moron.

Some would close up, others would simply move. What, do you actually believe the wealthy would just sit still and agree to lose 2% of their wealth every year without taking steps to avoid it as much as possible? It is to laugh politely, then return to adult conversation.

Bull shit.. They should pay their fair fucking share. Not one fucking job would be lost. Go suck a billionaires dick.

Wow, you're really making your point there Sparky. I'm sure the cool kids in your sandbox are duly impressed. Notice that what you think SHOULD happen doesn't usually ACTUALLY happen. What would actually happen is this, every wealthy person would go to their tax attorney's office and draw up a plan to reduce their exposure as much as possible. If the wealthy person is just sick of dealing with a hostile government out to take as much as it can at gunpoint, he'll simply move the wealth, possibly transfer its ownership for example to his corporation. Bill Gates could become a simple employee who gets paid a modest salary while Microsoft makes available for his personal use multi-million dollar homes, planes, cars, etc. Failing that, there are multiple countries out there that would roll out the welcome mat for a billionaire to bring his money and live large. Heck, Bill Gates could just headquarter Microsoft in Ireland and duck the whole thing, the heck with American workers if he wanted to replace them. Your simplistic little mind has no idea what a truly creative wealthy person with an army of tax attorneys can accomplish to avoid paying taxes, does it? There's a reason Warren Buffet pays low tax rates, and it's not because he's stupid. Change the laws and watch him change his behavior, because despite his whining that he doesn't pay enough in taxes, he'll fight tooth and nail to pay as little as possible.

Morons always assume the wealthy are just going to sit idly by and watch their taxes go up without doing anything about it.

Ya well the US is where the money is. They ain't gunna move. We can write laws to prevent off shoring money also. I get it you need those fucks to pay nothing. We can also write laws to shore up loop holes but your party won't have it. You would just rather pull it from the poor fuck with no money for attorneys before he can even get it. Right out of his paycheck. BEZOS ZUCKERBERG and the like need to just fuck us over and steal all the resources. You sound like the stupid fucking Ohio republican party telling us we can't get any money from the franking company they will go else where. We'll if those fucks wanna go frank where there is no gas let the dumb fucjs do it. They are fucjing here because the gas is here. They ain't going any where. BEZOS and those guys are he r e because that is where their clients are and the work force capable of doing the job are. Fuck you and the horse you rode in on.

 

[hadit]

A wealth tax would raise 4.35 TRILLION over a ten year period and the uber-wealthy wouldn't even notice it.
Great idea - DO IT!

How Much Revenue Would a Wealth Tax Raise?

Former Democratic presidential candidates Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass., have proposed progressive annual wealth taxes. Warren’s proposal would enact a wealth tax with a rate of 2 percent per year on net worth between $50 million and $1 billion and 6 percent per...

www.aei.org

"Wouldn't even notice it"? Get real, they didn't get rich by ignoring things like a 2% reduction in net worth. They would not only notice it, they would immediately make it disappear, along with the jobs they create and the money they spend in this country. They can afford to hire the armies of tax attorneys all the rich liberals use to avoid taxes while complaining they don't pay enough.

Like fuck they are going to just close shop because of it. Your a fucking moron.

Some would close up, others would simply move. What, do you actually believe the wealthy would just sit still and agree to lose 2% of their wealth every year without taking steps to avoid it as much as possible? It is to laugh politely, then return to adult conversation.

Bull shit.. They should pay their fair fucking share. Not one fucking job would be lost. Go suck a billionaires dick.

Wow, you're really making your point there Sparky. I'm sure the cool kids in your sandbox are duly impressed. Notice that what you think SHOULD happen doesn't usually ACTUALLY happen. What would actually happen is this, every wealthy person would go to their tax attorney's office and draw up a plan to reduce their exposure as much as possible. If the wealthy person is just sick of dealing with a hostile government out to take as much as it can at gunpoint, he'll simply move the wealth, possibly transfer its ownership for example to his corporation. Bill Gates could become a simple employee who gets paid a modest salary while Microsoft makes available for his personal use multi-million dollar homes, planes, cars, etc. Failing that, there are multiple countries out there that would roll out the welcome mat for a billionaire to bring his money and live large. Heck, Bill Gates could just headquarter Microsoft in Ireland and duck the whole thing, the heck with American workers if he wanted to replace them. Your simplistic little mind has no idea what a truly creative wealthy person with an army of tax attorneys can accomplish to avoid paying taxes, does it? There's a reason Warren Buffet pays low tax rates, and it's not because he's stupid. Change the laws and watch him change his behavior, because despite his whining that he doesn't pay enough in taxes, he'll fight tooth and nail to pay as little as possible.

Morons always assume the wealthy are just going to sit idly by and watch their taxes go up without doing anything about it.

Ya well the US is where the money is. They ain't gunna move. We can write laws to prevent off shoring money also. I get it you need those fucks to pay nothing. We can also write laws to shore up loop holes but your party won't have it. You would just rather pull it from the poor fuck with no money for attorneys before he can even get it. Right out of his paycheck. BEZOS ZUCKERBERG and the like need to just fuck us over and steal all the resources. You sound like the stupid fucking Ohio republican party telling us we can't get any money from the franking company they will go else where. We'll if those fucks wanna go frank where there is no gas let the dumb fucjs do it. They are fucjing here because the gas is here. They ain't going any where. BEZOS and those guys are he r e because that is where their clients are and the work force capable of doing the job are. Fuck you and the horse you rode in on.

Wow, you're becoming quite incoherent. You might want to have one of the nurses type for you, or at least put down the bong next time because it's somewhat difficult to make out just what the heck you're trying to say. The gist appears to be that you apparently don't believe companies and wealthy people will take advantage of cheaper parts of the world to live in and work. Here's a hint, think outsourcing. Take your time, it will eventually come to you, and I'm sure Helga can explain it to you over Jello tonight if need be.