[9YearLurker]

Sorry, I think the income tax is so unfair that I’d take a trade off of lowering there to get at least closer to some sort of tax equity.

Something like no federal income tax below $200K would be more than 50% covered by Warren’s proposed tax. The rest and more should come from cuts, though of course there would be an increase in the economy by so cutting income taxes, meaning that likely 75-100% would ultimately be covered by Warren’s tax anyway.

[Captain7seas]

1984: Grace Commission Report Under
Ronald Reagan Showed IRS is a Fraud that
Collects Taxes for the Banking Dynasties

“100% of what is collected is absorbed solely by interest on the Federal Debt
... all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government.”

-Grace Commission report submitted to President Ronald Reagan - January 15, 1984

[hanamizu]

Sorry, I think the income tax is so unfair that I’d take a trade off of lowering there to get at least closer to some sort of tax equity.

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Except the left doesn’t do trades, do they? If they get their way you’ll get both taxes. Then there is the enforcement method. How will the government know about all of your assets? For the right of enforcement will they have the power to dig through every wealth owner’s stuff to make an assessment of value? Of course they will be the ones to determine the value.