Posted on 03/02/2021 1:15:16 PM PST by JV3MRC
Watched a snippet on this while at the gym. Smith had Norquist on there so I was reading the captions. Not once did I hear him or her talk about the tax code, deductions, operating expenses, etc etc. All things that have to be dealt with if you’re going to go after a corporation.
GE and Amazon don’t pay any corporate taxes. Why? Because the corporation shows no profit? Every thing, down to the last penny is accounted for and they break even. So many perks allowed to executives, etc are rolled up as part of the operating expenses and they write everything off.
Negative on the net worth.
Her Gross Worth. Every year.
You start talking about her net worth, that’s what’s left after all her deductions and ability to hide money.
And Oklahoma has some of the richest people in the country thanks to those oil wells and natural gas deposits.
She wants to use the Indian stuff so much it’s killing her.
“”$3.75 trillion in revenue over the next ten years””
$3.75 Trillion in TEN YEARS? Does she know ANYTHING about INCOME and EXPENSE? Does she have a clue about how much they spend of OUR MONEY in ONE year? Did she ever pass basic math? She’s going to have fun catching up in 10 years. What a loon!
The wealth tax is in many ways more fair than income tax - Income often fluctuates, wealth is actually more steady.
From societal point of view, they tax the “old” money of worthless heirs, not the up and coming startup businesses, so there is even factor of societal usefulness.
They already exist, property and car taxes are kind of wealth taxes, so are the inheritance taxes and some others.
Why then they are not used too much?
They are very hard to administer!
It would be incredibly hard to yearly apprise everybody, and it is relatively easy to hide most wealth. See stuffed pillows, places abroad, phony corporations, etc, etc.
Practically only houses and cars are hard to conceal, so they are taxed already.
Most countries which tried them, abandoned them, they are just not worth the efforts.
She call herself professor, she should know that!
Job Killing Lizzy is at it again
Warren is a wind bag. She just likes to hear herself talk. The Senate will never go for a wealth tax and it would probably be unconstitutional. SCOTUS has ruled the federal government can’t have a head tax.
She's a demagogic party dumb ****.
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