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Elizabeth Warren eyes 50% tax rate, says Dems will end Trump tax cuts if they take back Congress
Biz Pac Review ^ | July 25, 2018 | Samantha Chang

Posted on 07/25/2018 7:25:36 PM PDT by E. Pluribus Unum

Elections have consequences. Just Senator Elizabeth Warren, who suggested that a 50% to 90% personal income tax rate for Americans is not out of the question. Warren made the shocking admission in an interview with CNBC.

Warren also promised that Democrats will end President Trump’s tax cuts if they take control of Congress in November 2018.

CNBC’s anti-Trump pundit, John Harwood, asked Warren: “If Democrats take the Congress…would you like to see these corporate tax cuts repealed?”

Senator Warren replied: “Yeah, I really want to see them rolled back.”

Question: “Back to 35%?”

Warren replied: “Well, it’s not about the number. Here’s how I look at budgets, and taxes are at the heart of this. A lot of people think they’re just numbers; they’re not. They are the expression of our values. The values of the Republican Party that passed those tax cuts are to give $1.5 trillion away to the richest Americans and the biggest corporations, and let everybody else pick up the crumbs.”

She added: “We need a budget, we need a tax bill that works for all of us. So what I’d like to see is I’d like to see us strengthen America’s middle class.”

(Excerpt) Read more at bizpacreview.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: 2018midterms; insane; insanity; tax; trumptaxcuts
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To: Col Frank Slade

I think she just had her riding in the tank moment.

Or her ‘what if kitty dukakis was raped’ moment.

Take yer pick.


61 posted on 07/25/2018 10:07:41 PM PDT by Secret Agent Man ( Gone Galt; Not averse to Going Bronson.)
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To: E. Pluribus Unum

I actually wonder if she’s not deliberately trying to make herself not be the nominee.


62 posted on 07/25/2018 10:08:53 PM PDT by Secret Agent Man ( Gone Galt; Not averse to Going Bronson.)
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To: DannyTN

- transgender surgeries for everyone in the world
- no borders whatsoever
- ban the Constitution, implement communism
- legalize sex with animals
- ban automobiles, make public transportation mandatory
- ban all speech that is not marxist horse sh*t
- ban all forms of self-defense
- ban Christianity
- ban oil
- ban plastic
- ban energy
- ban CO2
- ban traditional families
- ban childhood
- ban reality


63 posted on 07/25/2018 10:12:43 PM PDT by bluejean (I'm becoming a cranky old person. It really annoys me.)
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To: rb22982

Those numbers are macro economics and have millions of factors. What we are talking about is basic business principles. The end consumer of a product must pay ALL the costs of bringing that product to market. It can’t be any other way. Businesses exist to make a profit so the end consumer has to cover all the costs plus a little more for profit. Taxes are just one of those costs and no matter how you break it down every penny of that tax is in the price the END consumer pays or that product will not be on the market.


64 posted on 07/25/2018 10:20:47 PM PDT by precisionshootist
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Hmmm.... Don't you need the Presidency to end the tax cuts?
65 posted on 07/25/2018 10:32:36 PM PDT by KavMan
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To: E. Pluribus Unum

Just what exactly is in the water these people are drinking? My mother would say it’s “mad puss p!ss”.


66 posted on 07/25/2018 11:29:51 PM PDT by prophetic (Trump is today's DANIEL. Shut the mouth of lions Lord, let his enemies be made the Cat Food instead.)
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To: DannyTN

Prosecution for “hate speech” for anyone who doesn’t parrot the mainstream media talking points.

P.S. If you don’t hear about the new talking points in time to change your speech you are a “hater” and off to jail you go!


67 posted on 07/26/2018 1:05:47 AM PDT by cgbg (Hidden behind the social justice warrior mask is corruption and sexual deviance.)
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To: E. Pluribus Unum

That may play to liberal multimillionaire nairesnand billionaires, to working people not so much. And what pray tell will our benevolent government do with all that revenue?


68 posted on 07/26/2018 1:50:45 AM PDT by Rummyfan (In any war between the civilized man and the savage, support the civilized man. Support Israel.)
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To: E. Pluribus Unum
She added: “We need a budget, we need a tax bill that works for all of us. So what I’d like to see is I’d like to see us strengthen America’s middle class.

Strengthen the middle class by taxing them fifty percent?!

69 posted on 07/26/2018 1:52:30 AM PDT by Rummyfan (In any war between the civilized man and the savage, support the civilized man. Support Israel.)
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To: precisionshootist
Again, that is demonstrably incorrect. Tax reform wasn't just a small one of millions of factors. It massively lowered the cost of doing business. If those tax cuts didn't cause prices to fall, tax increases (tariffs) won't necessarily either.

In more appropriate economic jargon, if that will help is there are two pieces of the pie - one is consumer surplus - which is what you are referring to - and the other is producer surplus.

When tariffs go up, some of the loss goes onto the producer (which in this case, is made up of multiple facets - the Chinese manufacturer, the shipper, and the US retailer or final seller), and some of the loss goes onto the consumer. Where this gets muddled, though, is when you export the job overseas, it's a 100% tax on the US consumer, and in as much as that job comes back due to tariffs, is a 100% increase in consumer surplus.

70 posted on 07/26/2018 2:37:47 AM PDT by rb22982
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To: E. Pluribus Unum

As Emperor Palpatine says....

Good Good let the hate of low taxes flow through you!


71 posted on 07/26/2018 2:55:52 AM PDT by xp38
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To: E. Pluribus Unum

And they will destroy the economy. The stock market will drop 25%. It will be a nightmare.


72 posted on 07/26/2018 6:18:44 AM PDT by Titus-Maximus (The trouble with socialism is that you soon run out of other people's zoo animals to eat.)
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To: E. Pluribus Unum

I started working full time when I was 17. I am now 78, and only have 2 bookkeeping clients active.

I have NEVER had a ‘poor man’ sign the front of my paycheck. NEVER.

Kroger—Oscar Mayer—IGA—Universal Studios—Shell Oil—down to 1 man operations.


73 posted on 07/26/2018 11:08:35 AM PDT by ridesthemiles
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To: rb22982

Businesses don’t pay taxes. The end consumer pays them. It’s basic business and economic principle. Start a business making widgets and tell me what costs you will incur that you can just ignore and it won’t affect the price of your product? Hint, there aren’t any if you plan on making money. When the government says they are going to tax you $5 for every widget you sell that goes directly into the cost of your widget and if you sell your widget at a profit every penny of that tax is passed on to the end consumer. You can throw out charts and macro economics terms all day and it’s not going to change that fact. Like many others in our society You don’t understand basic business.


74 posted on 07/26/2018 2:51:00 PM PDT by precisionshootist
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To: rb22982

A poster said maybe we should let the dems know businesses don’t pay taxes and that is correct. You are conflating that with macro economics which is something different entirely.


75 posted on 07/26/2018 3:09:41 PM PDT by precisionshootist
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To: precisionshootist
Let’s play your theory out. Let’s say for the sake of your argument that Businesses don’t pay taxes, just consumers. If true, Why would China, Mexico or Europe care about tariffs if it all fell on US consumers? If tax reform increased earnings by 10% this year - massive number - why is CPI going UP at a higher rate than a year ago.

micro economics IS business. I have a BS in Econ, a T10 MBA, am #2 finance exec for a 7b EV company and own and manage rental properties. I have done pricing for a large retailer. But thanks for playing. Companies will always charge as much as they can for a product at all times.

76 posted on 07/26/2018 6:51:00 PM PDT by rb22982
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To: precisionshootist

I don’t think you understand the difference between micro and macro economics. That chart I outlined is micro economics and is basically the study of business and how to maximize your producer surplus given the supply and demand curve for your product(s).


77 posted on 07/26/2018 6:52:29 PM PDT by rb22982
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To: rb22982

Sorry man but I don’t care what degree you have if you did not learn that all costs of delivering a product to market must be paid by the end consumer you need to go back to school. You don’t have a clue about what you are talking about. I don’t care what Corp you’ve done pricing for, I have seen big corporations do the stupidest shit imaginable. I know of Nobel prize winning economists that are wrong nearly 100 percent of the time. A wise man once taught me economics is a subject only made complicated by economists.


78 posted on 07/26/2018 7:34:34 PM PDT by precisionshootist
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To: rb22982

I just read that again and had a chuckle. Businesses don’t pay taxes! A tax is a cost, just like materials and labor. Get your first business text book out and read it again. You missed something.


79 posted on 07/26/2018 7:38:48 PM PDT by precisionshootist
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To: rb22982

Ok sorry to be all preachy. We are both on the same team and I think in the end we are talking about different things.


80 posted on 07/26/2018 9:00:35 PM PDT by precisionshootist
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