Posted on 10/05/2019 7:56:06 PM PDT by SeekAndFind
If Bezos had to sell several percent of outstanding Amazon stock into the open market, and likewise for Buffett and Gates and the rest, the market would tank.
Agreed.
Smaller Government, more local Government, punishment & confiscation from influence peddlers & their enablers.
Nationalism is an important force partially because it serves to limit those global players who want to exploit the Global marketplace and destabilize &/or damage local economies. Businesses need to factor in some benefit to the countries where they establish business dealings rather than despoiling them. Each Nation needs to establish good stewardship practices based on the interests of the country & her people.
Eisenhower signed legislation that expanded Social Security, increased the minimum wage, and created the Department of Health, Education and Welfare. He created many of the most serious problems we face today.
Almost nobody actually paid the marginal 90% rate, there were major deductions such as real estate depreciation/loan expenses/ Did not include CGs. The effective tax rate for top earners was 45%.
From 1954 to 1961, during most of Eisenhower’s presidency, the top rate on long-term capital gains was 25 percent. The gap between the ordinary rate and the capital gains rate was 66 points — more than four times larger than the current gap. And while capital gains rates have gone higher than that, they peaked at 39.875 percent, from 1976 to 1978.
Keep in mind that many on the left would like to combine very high tax rates with an elimination of many tax breaks and loopholes, raising effective tax rates to levels never before seen in the United States or anywhere else. It never bothers the Left to ride rough shod over individual freedoms.
The business titans of Ike’s day were patriots, proudly producing in America with American labor
Today’s billionaires are globalists, ceaselessly lobbying their kept politicians to expand low wage immigration , and offshoring their manufacturing to the Third World
This offshoring and driving down of domestic wages has hollowed out our tax base and accelerated the coming shortfalls in Social Security
I’m all for taxing these unpatriotic oligarchs
I think there were plenty of billionaires at that time that were rapacious and who abused their workers, polluted their environs and otherwise utilized their leverage corruptly just as today there are businessmen/billionaires who have brought prosperity in their wake and who care about their country.
In case you have forgotten President Trump (billionaire), his cabinet officials such as Wilbur Ross, Steve Mnuchin, Linda E. McMahon, Robert Lighthizer and several others are worth $100-700M. Many of them are serving for free or for very reduced remuneration compared to what they can earn in the private sector.
If you √ the Forbes 400 list of American billionaires some inherited $ from businesses started a century ago, others made their wealth creating video games. There are as many stories as billionaires.
This article is about America's self made billionaire women. I doubt you will find the globalists you seek on this list. Do you think these people would stay to be fleeced by targeted theft of their accumulated wealth? Why should they? Learn the lesson that NY State is learning. People vote with their feet. What you and Bernie are promoting is not what America stands for and has flourished under; it is socialism.
https://www.forbes.com/self-made-women/#6eefd58c6d96
You may have forgotten that Trump campaigned on raising taxes on hedge fund executives
And his tariffs are taxes on the offshoring businesses that try to bring their cheaply produced goods back to America
that’s a shame
The Problem with a Wealth Tax is that it is UNCONSTITUTIONAL.
The founders were aware of the destruction a direct tax on the people causes so they wrote this ... No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or enumeration herein before directed to be taken.
The above was replaced with this ... The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.
The government does not have the legislative power to enact a "wealth" tax.
A wealth tax is a bad idea but the current income tax is destructive and evil.
A tariff. All the founders would approve of this message.
Except they are all globalists complaining about how expensive American workers are while sitting on piles of money.
Perfect.
I like it.
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