Posted on 11/13/2019 4:39:45 PM PST by 7thson
The Wealthy are not in favor of a Wealth Tax?
Hodda thunk it...
Isn't Traitor Roberts in charge of the out-of-control FISA Courts?
But they are thinking.....”A what amendment?”.
I think that the “wealth tax” proposal is a magnificent idea.
Let these billionaires who support leftists face their taxes going up significantly. They have no revulsion to payroll taxes going up on the “wage slaves” to support their communist ideas.
Now that such proposals are out there, they want to hit the brakes on socialism... because it reaches them where it hurts. They don’t pay payroll taxes at 40%, they are already rich so many of them are not taking salary. They take their compensation in stock options and pay 20% cap gains when they sell and on the accrued interest.
If the Feds keep printing money, we will need a million to buy a hamburger and fries.
I think all the proposed socialist candidate taxes are “wealth taxes” not income taxes. I think the billionaires were saying “income tax us more”. “Wealth tax” = 5%-10% of of your assets every year (until you reach zero?). Every tax payer has to pay an appraiser to value all their assets every year? Sounds crazy!
A person would have to be insane to have a billion dollars in cash. Otherwise, all that money is tied up in investments.
Often, like Bill Gates, they cannot sell their stock investments or they will lose most of their fortune, because it will make the price of their stock plummet. This is why his foundation exists, so that he can give it stock as a deduction, on condition that they can only sell off 10%, no more, of it every year. As such it stabilizes the stock price, so he can sell some stock without a price crash.
So the best bet to increase tax revenues is for tax policy to tax investments that benefit the economy at a much lower rate than those that are speculative, more like gambling.
this thread mixes well with this other thread about wokeness:
http://www.freerepublic.com/focus/f-bloggers/3793738/posts#comment
When some rich guy says rich people should be taxed more what they are really doing is announcing their wokeness, that they aren’t the bad people. It’s social insurance, a meaningless and inexpensive way to have people like them. They don’t even have to give anything ... they get credit just for saying Left-wing things.
The left created this class society by design.
Is unconstitutional.
It’s just the Constitution doesn’t matter to so-called “progressives”.
The love Arbitrary government.
yes, anytime ANYONE wants to throw more of his money down the WashingtonDC rabbit hole, he is perfectly free to do so
I have said this for years. We need to phase out Social Security, Medicare, Medicaid, Food Stamps, etc. over no more than a 12-month period.
We also could raise BILLIONS by auctioning off ALL federal land, ending all federal support for education and scientific research. And we should be privatizing national parks, federal law enforcement duties and interstate highways.
And I know this is not politically correct, but most of the military could easily be privatized as well. Some things, like aircraft carriers should be owned by the government. But there are private vendors who could manage them more cheaply than the Pentagon. Look at the success we’ve seen privatizing federal prisons. The military should be next.
Of course not. They want us to be taxed so we do not become billionaires.
Obviously, no one wants to pay more taxes, even the 44% of Americans who pay zero net federal tax.
That said, there is a HUGE difference between being taxed on your income/capital gains/interest/etc and being taxed on your wealth.
Sure, 2% this year, 2% next year, 2% the following year, ad infinitum. And how do you define wealth? If I own a company worth $2B, do you take away 2% of my company every year, until the government owns my company? What if it’s my farm? Do I have to sell acreage every year to pay my “wealth tax”?
Nobody likes to be taxed, billionaires just have the ability to do something about it.
What cracks me up is the media saying tariffs are ‘passed on’ to consumers... but not taxes on billionaires!
ALL taxes are ‘passed on’.
Bookmark
If billionares do not want to be taxed than they should not vote Democrat. They should step in and invest in conservative media and they damn well shouldn’t be for open borders. When those terms are completed than I will be concerned about this issue but not until then. They plainly are not paying enough taxes or those considerations would not be an issue.
Re: “if they think they aren’t taxed enough they don’t need a law raising their taxes, paying taxes is VOLUNTARY!!!
or so the IRS says anyway, and they are free to pay as much as they think they should be taxed to make them feel good about themselves... funny that they have armies of tax accountants to ensure they pay as little as possible though”
All they (Buffet, Gates, Bono, etc) have to do is cut a check to the treasury for what they feel is their ‘fair share’
“Just wanted to throw this out there. Over the past several years, we have heard from various billionaires that yes, they should pay more in taxes. Now we have socialist idiots out there - Elizabeth Warren and others - that have now called their bluff. They are saying, okay we’ll just take 100 million from you and now, all of a sudden, they are balking at the idea of their wealth being stripped from them. We always knew it was bull but now the hypocrisy is out in the open.”
Well stated. How about THEY fund Trump’s re-election, because, personally, I am SICK of carrying the water for these assholes...let them feel some PAIN, for once.
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