- Sep 19, 2011
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Warren and other ignorant people like here want a annual wealth tax on all assets over $50 million.
Warren, one of two dozen Democrats running for president, is counting on the revenue she projects it will raise to fund a host of her other priorities on child care, education and more.
Under Warren’s wealth tax plan, households would pay an annual 2% tax on all assets — net worth — above $50 million, and a 3% tax on every dollar of net worth above $1 billion.
Facts on Warren's Wealth Tax Plan
Major point for all to consider:
This wealth tax is on all assets over $50 million.
Where would these tax payers get the money to pay the taxes?
They would have to partially liquidate (sell down) their holdings, and hand that cash over to the government.
What that means for the economically literate is that the value of all companies owned by those folks, which includes most of the largest companies in the world, but quite a few mid-sized public and private companies, will drop by anywhere from a few percent to half.
Warren, one of two dozen Democrats running for president, is counting on the revenue she projects it will raise to fund a host of her other priorities on child care, education and more.
Under Warren’s wealth tax plan, households would pay an annual 2% tax on all assets — net worth — above $50 million, and a 3% tax on every dollar of net worth above $1 billion.
Facts on Warren's Wealth Tax Plan
Major point for all to consider:
This wealth tax is on all assets over $50 million.
Where would these tax payers get the money to pay the taxes?
They would have to partially liquidate (sell down) their holdings, and hand that cash over to the government.
What that means for the economically literate is that the value of all companies owned by those folks, which includes most of the largest companies in the world, but quite a few mid-sized public and private companies, will drop by anywhere from a few percent to half.
