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 ...
The wealthy will have ways to get around it, and as always the end result will be the middle class getting soaked.
Like estate tax, but before you die
stimulus plan
riprelations
minimum income payments
“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.
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.
Bye bye investment $.
Why do the RATs not understand that people that wealthy can just leave?
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.
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.
All Americans over $50 million - so Democrats?
Democrats don’t pay taxes.
Just end the carried interest loophole that the finance a-holes use to pay a lower tax percentage than janitors.
I had pleasantly forgotten about Princess Gray Beaver until today.
$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.
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?
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.
It’s amazing that some still pretend like there is still an operative Constitution when the overwhelming evidence is against that proposition.
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.
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?
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