Not a call to take.
Low-grade commie hack.
She wants it all and you can keep what ever fits in a Thimble
“All your wampum is belong to us.”
Yeah, because everyone knows our federal tax policies should be based on the opinion of one mega billionaire.
Leftist minds, where mush finds a home...
According to the article, Bill Gates is worth around $107 billion.
Under Warren’s plan he would pay a 2021 wealth tax of $107 billion x 0.06 = $6.4 billion. This would of course be on top of any other other taxes he might be paying.
Did you get that, Bill? Please don’t complain. Just write that check for $6.4 billion. Sen. Warren will spend your money wisely. That’s one thing I’m sure of.
Warren is barking up the wrong tree if she thinks Gates is her daddy-goldbucks.
Gates gave most of his wealth away back in 2000. $30Billion to his foundation and hundreds of millions to various foundations, charities, disease-eradication and scholarship programs.
https://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundation
How big of her.
Bill Gates gets to negotiate his tax rate directly with a Presidential candidate, but the rest of us don’t.
The problem as I see it is that for many of the rich, wealth is tied up in stocks, bonds, or “articles” like artworks. For Bill gates to pay his taxes for Warren, he would probably have to sell Microsoft stock. He them pays the Capital gains taxes, along with his regular taxes, then writes the $6.4 billion dollar check. Question is, who buys his stock? Maybe the first year investors, but then they owe taxes on what they just bought the next year. For Bill Gates, it would appear year 2 under her plan will be water, lather, rinse, and repeat. Year 3 no one is buying his stock because they have to pay taxes on the newly acquired wealth. Does the government now step in to offer him what the government decides is a fair price for his stock? 4-5 years later, the “people”(government) will be owning everything. At last!!!!! TRUE SOCIALISM!!
What a P O S idea. But we can’t expect much more from a 1/258th Indian can we? All that white blood just corrupted the native intelligence.
People with billions can transfer rheir ewalth anywhere and get a cadre of lawyers to support said transfer.
“Paying” a few scheckels for virtue signalling is all fun and games.
Remember after your worth is the B category money is just how you keep score.
I am not there yet but I know how the uber-rich operate. Money is meaningless except for how it propels you.
Most Americans scrabbling for a few measly thousands a year have no idea how these people operate.
80%
FDR said you have to pay 94%, and he wasn’t kidding.
I’m sure Warren can arrange something....perhaps a big donation to a foundation.
The total wealth of the richest 100 Americans is just over $1 Trillion.
If Warren confiscated 100% of that, it would only pay about 2% of her purposed Medicare-for-all estimated to cost $52 Trillion. Then, those billionaires would be broke and Warren would still be monetarily short by around $51 Trillion.
The woman should have Wall Street worried. She and her freebie plans could bankrupt the nation.
Under wealth tax, the rich will have to sell stocks and other assets every year that those assets go up. So the stock market will devalue far lower than it is now. We will be in recession because rich people will be forced to pull a full 2% out every year. And the government will yank this money out of the economy and hide it in under performing assets. Maybe the UN or Paris accord or wars.
Before long, the 6% annual tax would be on assets $200,000 or more.....then $100,000, and so on.
Just look at how the income tax started out, and what a nightmare that evolved from THAT scheme beginning in 1913.
She certainly won’t find $50trillion at Bill Gates’ house. Take all of his property, then what do you do the second day?
Socialists are like junkies, there is never enough.
The reason a lot of these billionaires support these crackpot leftists like Warren is because it doesn’t cost them not to. In order to get a tax law like this passed it has to go through congress, every one of those congress critters is being paid off in one way or another by wealthy individuals from around the world. A doctor or small business owner making $500K a year doesn’t have the money to buy his own congressman/woman but someone like Bill Gates or Jeff Bezos does, so the end result is a law that’s touted as going after the rich ends up with all kinds of loopholes to protect the Gates and Bezos while skipping over them to grab the wealth of those that aren’t rich enough to pay for protection, the upper middle class. Make $250K to $1MIL a year, you’re screwed. Make $10MIL a year and you’re in the group that can afford all the financial vehicles set up in the tax laws to hide your money, things like charitable schemes and having your business registered in Ireland so you pay almost nothing for corporate taxes.
For a nice donation to her cause