Three words: Move to Bangkok
If she is elected
“It’’s just a tiny tax.”
Just who does this communist liar thinks its kidding?
Yeah, just a tiny tax on the most wealthy....just like the Federal Income tax started out...just a tiny tax on the most wealthy. And now look at the thieving monstrosity that it has become today.
The communists drool over the retirement accounts of the People. They would confiscate all of it IF they can get away with it and they will try.
Not only NO, but heck NO!!!
Only true if transaction tax was in addition to capital gains tax.
On the other hand a transaction tax REPLACING capital gains tax would immediately eliminate tax cheating, eliminate record keeping for decades by stock holders and their brokers. And it will bring in tax revenue much sooner than capital gains tax.
In my own situation I am sitting on huge long term capital gains from stocks, and I can not sell those even if I need the cash for buying a fancier house or car because of the huge tax bill due all immediately. I would much rather have paid a transaction tax when buying and pay a small percentage when selling.
Of course they won't say they are just taking it, that would be a pitchforks and torches moment. They'll lie, say it's a tax on fat cat bankers and hope that by they time we notice that we're the fat cat bankers in this scenario it will be too late for us to do anything. And so it's beginning.
As much as she is proposing to spend, there is no way it won’t hit the average middle-class worker. There are not enough billionaires in the US or on the planet to pay for her extravagance.
If she confiscated 100% of the wealth of the richest 100 Americans, she would get just over $1 Trillion. Then, that well would be dry. Her plans for spending go from $22 Trillion upwards of $100 Trillion.
Work is giving us 25.00 gift cards to some store for Christmas. We have to pay taxes on it even before they give it to us. Anybody else tiring of these pirates taxing every damn thing we do or receive?
bttt
Thanks anyway.
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She might also push a value added tax, a Dim wet dream for decades. That would hit every individual and every transaction.
Sanders and Warren do not respect private property. Without it, all of their promises are tentative and rates are derived arbitrarily. There’s nothing principally stopping them from taxing at 100%.
If Warren were to be elected, starting the day after the election there would be the biggest sell off in Wall Street history as investors would be liquidating their assets in preparation to move them to offshore tax havens. Your pension funds and retirement savings would take a major hit as a result.
Scum. Greedy presumptuous scum.
If they actually got in power, they wouldn’t TX your retirement accounts.
They would TAKE them.
With the promise to dole out a little bit at a time back to you.
And they might even do that for a couple of years, until they spent it all on other socialist programs.
So does Mayor Peteie. His “voluntary Government 401k” is merely the 1st step to a “mandatory Govt 401k” that they will loot just like they did the Soc Security fund.
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Let's send them a message at the Ballot Box. Vote against any DemocRAT including the Dog Catcher.