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Elizabeth Warren to propose 'wealth tax' on Americans with more than $50 million in assets [trunc]
CNBC ^ | 24 JAN 19 | Kevin Breuninger | Tucker Higgins

Posted on 01/24/2019 11:10:12 AM PST by DCBryan1

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To: I want the USA back

Russia & China don’t have a wealth tax, nor is there any desire to have one.

Communism is an American phenomenon now.


121 posted on 01/24/2019 1:53:32 PM PST by Trumpisourlastchance
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To: ClearCase_guy

“But income isn’t the juiciest target. Warren knows what Marxism demands — grab the Wealth!!”

Income tax should be repealed and is just a way to keep others from getting rich. Old money did not and does not have to pay an income tax.

Wealth tax could mean someone is taxed multiple times since they already likely paid tax when they obtained that wealth.

The only “fair” tax for minimal powers appointed to the government is a sales tax on non-essentials and non-business items. That way you are taxed purely based on the amount of excess stuff you consume. And anyone can live a minimal lifestyle without having to pay any taxes.

Right now we have middle income people getting taxed to death and some barely feeding their families. Or people getting kicked out of their homes because of rising property taxes.

You should not be at risk of starving or losing your home due to taxes


122 posted on 01/24/2019 1:59:47 PM PST by varyouga
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To: all the best

You are so right.

James 4:1


123 posted on 01/24/2019 2:10:53 PM PST by Ban Draoi Marbh Draoi ( Gen. 12:3: a warning to all anti-semites.)
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To: GaryCrow

I recall that Trump once advocated this one-time wealth tax, which is why I initially mistrusted him. But he’s since wised up, and Fauxcohantas has suddenly discovered his outgrown folly of two or three decades ago.


124 posted on 01/24/2019 2:26:17 PM PST by Eleutheria5 (If you are not prepared to use force to defend civilization, then be prepared to accept barbarism.)
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To: bert
Why is she living?

Ah, that is the perennial question I ask myself; not only about her, but also about so many others of her ilk.

125 posted on 01/24/2019 2:28:31 PM PST by Salvey
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To: DCBryan1

Why $50 million? Because multi-millionaire Warren’s net worth is just a little bit under that number.


126 posted on 01/24/2019 2:33:03 PM PST by Brown Deer (America First!)
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To: Califreak

Yeah but does that also count her off shore accounts


127 posted on 01/24/2019 2:34:48 PM PST by Sarah Barracuda
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To: DCBryan1

If the dems/communists can pass a “wealth tax”, defining “wealthy” will become sport for them.


128 posted on 01/24/2019 2:48:23 PM PST by NativeSon ( Grease the floor with Crisco when I dance the Disco)
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To: Red Badger
It’s time for a Convention of States...................

To hell with that, CW II is now the only option to rid us of these idiots. Media and Hollywood first to go down.

129 posted on 01/24/2019 3:10:54 PM PST by unixfox (Abolish Slavery, Repeal the 16th Amendment)
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To: DCBryan1

So I’m guessing the squaw is worth something less than 50 million $.


130 posted on 01/24/2019 3:12:06 PM PST by Blue Collar Christian (Socialism is for losers.)
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To: DCBryan1
Liawatha’s worth millions...all thanks to Affirmative Action that she didn't even qualify for.I've walked through her neighborhood in Cambridge.It's where Harvard's (and MIT's) elite live.
131 posted on 01/24/2019 3:37:13 PM PST by Gay State Conservative (Mitt Romney: Bringing Massachusetts Values To The Great State Of Utah.)
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To: mass55th
Let me guess, she’s got $49,999.99 in assets.

Yup,those are her assets in the US. But what she doesn't make known in polite company is that she has Costa Rican citizenship.

132 posted on 01/24/2019 3:58:54 PM PST by Gay State Conservative (Mitt Romney: Bringing Massachusetts Values To The Great State Of Utah.)
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To: Red Badger

RE: wealthy will not sit idly by

That is the crux of the problem. Once your tax rate is higher than average, you lose them, either by “flight” or by tax havens and various forms of cheating. You lose the incentive for development and suddenly you’re Venezuela.


133 posted on 01/24/2019 4:05:39 PM PST by Missouri gal
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To: DCBryan1
I would love for President Trump to troll gray beaver and say "I think that's a good idea. In fact I am going to sign an executive order to confiscate 90% of all wealth over 10 million dollars, and I will sacrifice my own wealth for this noble cause."

The howls of outrage from the pols and bureaucrats who miraculously became multi millionaires on a government salary would be worth the tweet.

134 posted on 01/24/2019 4:07:29 PM PST by Sirius Lee (In God We Trust, In Trump We MAGA)
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To: The Pack Knight
Do you think the “wealth tax” would continue to apply only the very wealthy?

Well there is the rub, no?

But I'm thinking about douche bags like Warren Buffet, Ted Turner, Jeff Bezos, Mark Zuckerburg, etc., etc., and how they are all in favor on RAISING the income tax and opposed to a tax cut, while at the same time having an army of accountants to whittle away their own "incomes", it boils my blood.

So, yeah, if it starts defining wealth at the middle class level, or even rich (because millionaires aren't nearly as wealthy as billionaires like the names listed above), then the whole thing falls apart.

Still, everything can be a slippery slope when due diligence is not followed. There are so many things that have been corrupted over the long years.

135 posted on 01/24/2019 4:09:49 PM PST by Alas Babylon! (The media is after us. Trump's just in the way.)
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To: qwerty1234

yup, the more the merrier - we know how well tax hikes play at the box office.

of course we knew this was coming. Every financial advisor looks at me puzzled when i ask how they would protect my assets from US confiscation. Apparently they do not read the papers to understand what happened in Cyprus, Germany, etc. US financial institutions cannot be trusted to protect your money from confiscation by President Warren


136 posted on 01/24/2019 4:23:22 PM PST by KingofZion
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Comment #137 Removed by Moderator

To: DCBryan1
Will your wealth in your tipi be taxed? Let's have a 125% income tax for people making $30.00/year and above. Think of the money you can spend, if you taxed everyone making that and above...

I shouldn't joke about that, they might do it...

138 posted on 01/24/2019 4:55:43 PM PST by Deplorable American1776 (Proud to be a DeplorableAmerican with a Deplorable Family...even the dog is, too. :-))
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To: Alas Babylon!
I actually applaud this, with BIG caveats. #1. It can’t be land or real property wealth. That would mean lots of families losing the farm. #2. Tax wealth, not income. We WORK for our wages. Wealth is accumulated, and wages are sweat of the brow. I’ve always opposed INCOME taxes.

Alas Babylon, you are going full commie. Stop it. This is an opinion unbecoming to a FReeper.

You are not only advocating the goverment TAKING property from people, but you are willing for certain exemptions to occur for favored groups.

Property has already been taxed. It will be taxed for gains, when it is sold.

And your head will also be on the chopping block, once it is established.

The income tax started to just tax the wealthy at 1% or so.

Turn back dude.

139 posted on 01/24/2019 4:58:05 PM PST by aMorePerfectUnion
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To: DCBryan1

They are trying hard to kill Trumps economy, by hoping to do this they see the evil rich not investing in America and going back to the far east and Europe to do business


140 posted on 01/24/2019 5:04:02 PM PST by ronnie raygun (nic dip.com)
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