I'm sure that if a wealth tax comes, it will be on top of an income tax, not instead of it.
any sentient being that takes ten minutes to think this one through, will simply laugh. Just how would the government liquidate the “wealth”, so they can redistribute it? Or would the government just make in-kind transfers? Either way, the transactions costs would eat up all of the hoped for revenue, and the assets would no longer be productive. The Left assumes that incentives mean nothing, when they mean everything.
So, is this not a method of taxing our IRAs and other pension funds? Those of who think it would be nice to hit the Buffets and other Lib-Dems, need to realize that this could easily be extended to home values as well!
Very ugly!
As long as they start with Bruce Springsteen and Jay-Z, I’m good with it.
Not that the Constitution matters to these people, but the 16th Amendment only specifically authorizes an income tax. Wealth taxes would have to be apportioned by states. Also taxing capital is one of the worst ideas ever.
To decrease inequality, tax the political ruling class elite for the benefits that they voted for themselves. Cost of living pay raises. Golden pension plans and health insurance plans.
From “You did not build it!” to “You do not own it!”
There, fixed it.
Give no place hold for confiscation efforts
Oh yes, M2 Multipliers drop below 1 (Negative ROI)
New Investment, and hence, Employment, goes Bye-Bye
And Capitalism Fails.
When the economies move to a “World Bank”
Go Galt
I want me some Sulzberger fortune. Gimme gimme gimme!
I want me some Sulzberger fortune. Gimme gimme gimme!
Inflation is a very effective wealth tax.
If I remember correctly, Hillary broached this idea during her campaign. A classic way to make everyone “equal”. Don’t tax their earnings tax what they have.
luckily they would have to pass a constitutional amendment to inact a weath tax :)
Here comes the retirement fund grabs! Those seniors who voted for O are gonna get a big wake up. As a class, they are the wealthiest americans in terms of assets (as they should be with their time on earth to earn those assets.) I hope they enjoy the pillaging of Medicare and their accumulated assets!
This will never happen because increasing the income tax is what the plutocrats want specifically to prevent others from becoming as powerful as they are.
To me, it is immoral to tax a person’s income. We need our income. But I see no problem taxing wealth because the person has the money to pay for food, medicines etc.
... 401k ... that’s their target ... YOUR 401k
f*ck them