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Elizabeth Warren unveils plans for a wealth tax on all Americans with net worths higher than $50 million as Democrats get ready for when they've passed $1.9tn stimulus plan
UK Daily Mail ^ | March 1, 2021 | Geoff Earle

Posted on 03/01/2021 12:09:16 PM PST by C19fan

Sen. Elizabeth Warren rolled out her plan Monday to slap a 2 per cent annual wealth tax on people whose net worth is over 50 million and up to $1 billion – setting the stage for debates over how to pay for Joe Biden's infrastructure and environmental proposals.

Warren's plan is similar to what she advocated in her 2020 presidential campaign, where she lost to Biden, who did not come out for a wealth tax.

The Massachusetts Democrat is joined by Vermont Sen. Bernie Sanders and House Reps. Pramila Jaypal and Brendan Boyle.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; Constitution/Conservatism; US: Maryland; US: Massachusetts; US: Vermont
KEYWORDS: berniesanders; chrisvanhollen; elizabethwarren; maryland; massachusetts; tax; vermont; wealthtax
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Did not Fauxahontas float this around last year. The Constitution does not grant the Federal government the right to tax wealth or property.
1 posted on 03/01/2021 12:09:16 PM PST by C19fan
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To: C19fan

The wealthy will have ways to get around it, and as always the end result will be the middle class getting soaked.


2 posted on 03/01/2021 12:10:17 PM PST by dfwgator (Endut! Hoch Hech!)
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To: C19fan

Like estate tax, but before you die


3 posted on 03/01/2021 12:10:37 PM PST by FlyingEagle
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To: C19fan

stimulus plan

riprelations

minimum income payments


4 posted on 03/01/2021 12:11:07 PM PST by DoughtyOne (The Republican Party is dead. Long live the Founders Party.)
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To: C19fan

“Did not Fauxahontas float this around last year. The Constitution does not grant the Federal government the right to tax wealth or property.”

That really doesn’t matter anymore.


5 posted on 03/01/2021 12:11:38 PM PST by brownsfan (Term limits! Without term limits, we are doomed.)
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To: C19fan

I don’t believe it. They won’t actually take the wealth of the billionaire class because they’re the ones funding the Woke agenda.


6 posted on 03/01/2021 12:11:46 PM PST by Shadow44
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To: C19fan

Bye bye investment $.

Why do the RATs not understand that people that wealthy can just leave?


7 posted on 03/01/2021 12:13:32 PM PST by Seruzawa (TANSTAAFL)
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To: C19fan

The IRS income tax originally was a tiny tax on only the most wealthy.

We need a flat tax, period. And it should be a sales tax only charged when a human being (not a company) buys something.

Of course, it will never happen, partly because it would leave us with a 90% sales tax for the Fedgov to make the same tax they do now. :)

I’m just doing all I can to starve the beast.


8 posted on 03/01/2021 12:13:47 PM PST by cuban leaf (We killed our economy and damaged our culture. In 2021 we will pine for the salad days of 2020.)
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To: C19fan

Sure, the wealth tax starts at $50 million and then it’s $40 million and then $20 million and then we are all paying the wealth tax.


9 posted on 03/01/2021 12:15:30 PM PST by Meatspace
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To: C19fan

All Americans over $50 million - so Democrats?


10 posted on 03/01/2021 12:16:43 PM PST by nickcarraway
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To: Seruzawa
wealthy can just leave

They can do better than that.

They can hire the tax lawyers as lobbyists to _write_ the thousand page bill--so Warren won't be able to figure out all the loopholes.

Then the tax lawyer/lobbyists charge the wealthy top dollar to find those Easter Eggs and give them to their kids...!
11 posted on 03/01/2021 12:17:15 PM PST by cgbg (A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
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To: nickcarraway

Democrats don’t pay taxes.

https://www.thedailybeast.com/the-daily-beast-ranks-the-party-democratic-or-republican-with-the-most-tax-cheats


12 posted on 03/01/2021 12:21:53 PM PST by yuleeyahoo (The nation which can prefer disgrace to danger is prepared for a master and deserves one. Hamilton)
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To: C19fan

Just end the carried interest loophole that the finance a-holes use to pay a lower tax percentage than janitors.


13 posted on 03/01/2021 12:22:08 PM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign! )
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To: C19fan

I had pleasantly forgotten about Princess Gray Beaver until today.


14 posted on 03/01/2021 12:24:02 PM PST by dainbramaged (Windage and Elevation)
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To: C19fan

$1.9tn stimulus plan with 550 billion going to state and local governments aka pay backs democrats at work.
In that party everybody gets a slice of the cake higher taxes ensue.


15 posted on 03/01/2021 12:24:20 PM PST by Vaduz (women and children to be impacIQ of chimpsted the most.)
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To: C19fan

A wealth tax? I’m for removing the wealth from rich liberals, every last dollar. This won’t get it done, but perhaps another way?


16 posted on 03/01/2021 12:26:29 PM PST by JonPreston (Q: Never have so many, been so wrong, so often)
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To: C19fan

And if you watch carefully you will be able to watch the plane loads of money, jewels, and other assets flying out of the country to be buried overseas.

Remember the guy who thought Guam was going to tip over? He will wonder what caused the Cayman Islands to sink.


17 posted on 03/01/2021 12:27:10 PM PST by Vermont Lt
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To: brownsfan

It’s amazing that some still pretend like there is still an operative Constitution when the overwhelming evidence is against that proposition.


18 posted on 03/01/2021 12:29:27 PM PST by Lurkinanloomin (Natural Born Citizens Are Born Here of Citizen Parents)(Know Islam, No Peace - No Islam, Know Peace)
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To: C19fan
"I see you have some money there. Give it to me."

Not to worry. We are all on the menu. Start with fifty million, then increment downwards.

Years ago Hillary wanted to assess "imputed income" for rent not paid by people who had paid off their mortgages and owned their houses outright.

That one will come back, sooner rather than later.

19 posted on 03/01/2021 12:36:38 PM PST by E. Pluribus Unum (The FBI used to go after communists. Now it is run by communists. The American Stasi.)
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To: Seruzawa
Why do the RATs not understand that people that wealthy can just leave?

Where are you going to flee?

You can leave California or New York or New Jersey for red states, but what red country can you flee to?

20 posted on 03/01/2021 12:38:26 PM PST by E. Pluribus Unum (The FBI used to go after communists. Now it is run by communists. The American Stasi.)
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