Posted on 10/16/2019 8:33:32 AM PDT by SeekAndFind
Entrepreneur Andrew Yang slammed Sen. Elizabeth Warren's (D-Mass.) proposed wealth tax because it has been tested and repealed in other countries.
“A wealth tax makes a lot of sense in principle. The problem is that it’s been tried in Germany, France, Denmark, Sweden and all those countries ended up repealing it because it had massive implementation problems and did not generate the revenue that they projected," Yang said during the presidential debate on Tuesday evening in Ohio.
"If we can't learn from the failed experiences of other countries, what can we learn from? We should not be looking to other countries' mistakes. Instead, we should look at what Germany, France, Denmark, and Sweden still have, which is a value-added tax. If we give the American people a tiny slice of every Amazon sale, every Google search, every robot truck mile, every Facebook ad, we can generate hundreds of billions of dollars and then put it into our hands, because we know best how to use it," he added.
Warren argued that raising income taxes on wealthy American families is not enough.
"So understand, taxing income is not going to get you where you need to be the way taxing wealth does, that the rich are not like you and me. The really, really billionaires are making their money off their accumulated wealth, and it just keeps growing," Warren said.
"We need a wealth tax in order to make investments in the next generation. Look, I understand that this is hard, but I think as Democrats we are going to succeed when we dream big and fight hard, not when we dream small and quit before we get started," he added.
(Excerpt) Read more at pjmedia.com ...
There it is. Socialism/communism in a nutshell. They know how to use my money better than I do. They know how to use wealthy peoples' money better than they do. They know how to use corporations' money better than they do. There is no difference between these policies of Warren and Yang. The money just comes from (ostensibly) different pots.
Poor naive Yang, pointing out the fact that “wealth taxes” have failed miserably wherever they’ve been tried... It’s almost charming to see someone utter something so woefully out of place at a Democrat debate.
Apparently, poor fellow never got the memo that facts and logic have no place in Dem policy proposals.
I wonder if any of these brilliant economists have ever analyzed the potential revenue from the income tax and having a VAT?
What would those numbers look like?
I was always taught that my dreams should be about my own achievements- not forcefully taking the results of other people's achievements. Those are dreams- those are resentments.
Isn’t he talking about the people getting his 1k per month payment? That they would know how best to use it? Like “we the people” know best how to use it?
Yes that’s who he means. Many here will hear it differently because he was vague.
Basic income is at least putting money into people’s hands.
All the taxes Democrats are proposing would suck it out of their wallets.
And there are only so many rich people in America you tax to the max and it still wouldn’t be enough.
To add insult to injury, Democrats want to give it to illegals and their politically connected friends abroad.
Ding! We have a winner!
Well. Another case which allows me to express my gratitude to Leftists for allowing me to save my valuable time. "Many mickles make a muckle", and all those saved seconds have added up for me, being able to discern Leftist stupidity from their own mouths immediately, and not having to depend just as accurately on interpreting their stances on things.
Bingo!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.