Posted on 01/24/2019 11:10:12 AM PST by DCBryan1
Sen. Elizabeth Warren, D-Mass., is planning to propose a "wealth tax" on some of the richest Americans, an economist who advises her told CNBC on Thursday.
The new tax from Warren, who recently announced her bid to challenge President Donald Trump in 2020, would only apply to Americans with more than $50 million in assets.
The Washington Post first reported the development.
Warren's proposal comes alongside other Democratic lawmakers' plans to raise taxes on the wealthiest Americans to pay for ambitious policy goals, including a "green new deal."
(Excerpt) Read more at cnbc.com ...
Yeah sure, I remember a Halfrican that ran for Pres. ran on a platform to raise taxes on the rich.
It then ended up taxing the lower Middle class.
The same Jackwagon that said you’ll save 2,500 dollars a year with Obummer Care and keep your doctor.
Pocohantas speak with Forked tongue.
maybe its time for a move on their neighborhoods
Most federal, state and local unionized government employees enjoy Cadillac plans too. And after a few years of “service”, taxpayers pay their insurance premium for life. At one point the union I worked for in California had negotiated a requirement of only 5 years for continued coverage. I think they had to increase it a few years because of budget problems.
She only has $49 Million
Yup. Only rich conservatives or capitalists are bad.
A previous generation of state sovereignty-respecting Supreme Court justices had clarified limits on Congress’s power to appropriate taxes.
More specifically, Congress is able to tax only for what it can justify under its constitutional Article I, Section 8-limited powers and a few other expenses specified in Constitution.
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States."—Justice John Marshall, Gibbons v. Ogden, 1824.
Patriots need to elect a patriot Congress in 2020 that will not only promise to support PDJT’s plan for MAGA, but will also put a stop to unconstitutional federal taxes.
Warren is 13 eggs shy of a backer's dozen.
And 17th Nd 25th Amendments.
Watch al those underperforming assets disappear. Even a few companies valued at 50 million sure can lose a lot of money. You know....like General Motors, Chrysler, Whirlpool, and banks.
Pelosi family and democrat elites are shaking in their boots!
(Actually no they’re not, they’ll be exempt.)
Like many have predicted, the dems will go far far left in order to one up the others running for Prez
Fauxkahantas needs to go further “left” than AOC
The others will join in I’m sure
It will eventually be lowered to $1.
That’s what happens when you have a do-nothing Congress that won’t prevent monopolies from getting grip.
I think a Show Business Tax is a far better idea.
Nah...the liberals can’t be that stupid and greedy, can they? Why can’t they take a peek at Venezuela because they already tried it there.
Governor Murphy defined the rich in New Jersey as anyone making 50 grand or more a year
But holding real estate in trusts, etc is a great idea to get around this crap.
Would this be a one time swipe, or would she tax the wealth every year? Because that would be double taxation. And would that reduce my capital gains tax when I got to sell my assets that have gained value?
I would just sell it all and move.
Tax privately owned barrier walls around homes. Something like $100 per linear foot per year. You know to offset the environmental impact since turtle, butterflies, and such can’t navigate them.
Is this going to be the core of the 2020 Democrat primary? A bidding war to raise taxes?
Let me guess - Warren’s net worth is $49.99 million
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