"Psychojawea's steadily eroding support among Demwit billionaires, including Steyer, Bloomberg, Zuckerberg, Gates, and Yang, puzzles analysts! Ah, here's my limo!"
Posted on 11/07/2019 10:01:50 AM PST by yesthatjallen
Rep. Don Beyer (D-Va.) and Sen. Chris Van Hollen (D-Md.) on Thursday rolled out a proposal for a “millionaires surtax,” amid a growing interest from Democrats in increasing taxes on the wealthy.
“This is a bill designed to address two major problems of public policy: the lack of revenue, and inequality,” Beyer said on a call with reporters. “It’s a laser-focused solution that requires those who benefited the most from the economy to contribute in a way they simply haven’t been asked to before.”
The lawmakers’ bill, which is being co-sponsored by Sen. Sherrod Brown (D-Ohio), would create a 10-percentage point surtax on all income above $2 million for married couples and $1 million for single tax filers.
The surtax would result in the top tax rate on income from wages and salaries increasing from 37 percent to 47 percent, plus a 3.8 percent Medicare surtax. It would result in the top rate on capital gains increasing from 20 percent to 30 percent, plus a 3.8 percent net investment tax.
The Tax Policy Center, a joint project of the Urban Institute and the Brookings Institution, has estimated that such a surtax would raise nearly $635 billion over 10 years.
“This is revenue generated that we can then invest in helping other Americans succeed,” Van Hollen said.
SNIP
(Excerpt) Read more at thehill.com ...
Which no doubt congress would be immune from
LOL, they actually think the millionaires are just going to take it and send a damn check.
One of the brightest observers of America’s descent to the Third World status sought by the power-mad Democrat leftists (but I repeat myself) & too many self-serving Chamber of Commerce RINOs describes what’s ahead for all of us if we fail to halt the process. I URGE you to read and share it.
Here’s the link: https://nicholasstixuncensored.blogspot.com/2012/08/victor-davis-hanson-anarcho-tyranny-in.html
Stalin once analogized America as a healthy, vibrant man then went on to observe that to capture this country, the Marxists would need to make us sick and bring us down before we would adopt communism.
Most all on this list have been paying attention as we’ve been methodically “sickened” by devices such as Cloward-Piven and destruction of education (Common Core, etc.)
But many of those with whom I hope you’ll share this have been too busy to notice our impending ENGINEERED demise.
Two historical quotes to support his report:
“Tolerance and apathy are the last two virtues of a dying society”
Aristotle
“ A man may be personally ever so well off, and yet if his country be ruined, he must be ruined with it.”
Pericles (Thucydides), 423 BC
The Brookings estimate is, like all of their analyses, horse manure. Even if the thuggish left passes this stupid law, they will raise little or no money from the millionaires I know. Wealthy people would happily spend $5k to find loopholes that will save them $100k, except that it doesn't even cost that much to figure out how to avoid punitive taxes. What the new tax will do is drive income completely out of our tax returns so that America's enemies in the deep state will collect less money than they do now. That is an appropriate outcome for the envious socialists.
There is a reason that envy is listed among the seven deadly sins. Every time I hear or read the words of a socialist, I'm reminded of God's wisdom.
um.. aren’t these the same people from the red states like California and New York who have been complaining that the tax law changes are making them pay more taxes?
um...
this is your chance libs! this is what you have always wanted!
YOU get to pay more in taxes and the rest of us dont! it’s a win win!
and yet... you complain.. sooooo what you REALLY want is not the “rich” to pay more in taxes... BUT SOMEONE ELSE!
FU LIBS!
DOA in Senate. We must keep Senate.
DOA with Trump. We must re-elect Trump.
If they say, “Come with us, Let us lie in wait to shed blood; Let us lurk secretly for the innocent without cause; Let us swallow them alive like Sheol,And whole, like those who go down to the Pit;
We shall find all kinds of precious possessions, We shall fill our houses with spoil;
Cast in your lot among us, Let us all have one purse”—
My son, do not walk in the way with them, Keep your foot from their path; For their feet run to evil, And they make haste to shed blood. Proverbs 1:10-16
"Psychojawea's steadily eroding support among Demwit billionaires, including Steyer, Bloomberg, Zuckerberg, Gates, and Yang, puzzles analysts! Ah, here's my limo!"
Our chances to defeat President Trump in 2020 are burning down! Quick! Throw on more gasoline! Thanks yesthatjallen.
Ten Years After was way ahead of its time.
That sounds like a perfect Democrat program and a tool to give them absolute power indefinitely. Venezuela would be just fine with them if they were the ruling elite.
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