Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Report: Democrat Rep. Thomas Suozzi Explores a ‘Patriot Tax’ on Multimillionaires
breitbart ^ | 06/14/2021 | Jacob Bliss

Posted on 06/14/2021 12:15:41 PM PDT by ChicagoConservative27

Democrat Rep. Thomas Suozzi is exploring a one-time tax on wealthy Americans as Democrats are looking for ways to pay for their partisan wish list while they control Congress.

Suozzi (D-NY), who sits on the House Ways and Means Committee, told the Hill he is looking into a one-time tax on millionaires, called the “patriot tax.” The tax would be a “one-time surcharge of 2.5 percent on wealth between $50 million and $100 million and a 5 percent tax on wealth above $100 million.” According to Suozzi, the affected Americans would be able to pay the tax over a five-year period.

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Government
KEYWORDS: explores; patriot; suozzi; tax
Navigation: use the links below to view more comments.
first previous 1-2021-4041-50 last
To: spaced
You nailed it. Sadly, liberals don’t know the difference between income and wealth.

I'm glad you agree but please humor me, I want the word 'liberal' back to its old meaning, not the perversion that the LEFT has made of it. When I took 'Liberal Arts' in college, back in the typewriter age, 'liberal' meant open-minded, willing to debate or respect other views. It is a mountain to climb but I refuse the LEFT's theft!

41 posted on 06/14/2021 2:05:32 PM PDT by SES1066 (Ask not what the LEFT can do for you, rather ask what the LEFT is doing to YOU!)
[ Post Reply | Private Reply | To 35 | View Replies]

To: ChicagoConservative27

“The tax would be a “one-time surcharge of 2.5 percent on wealth between $50 million and $100 million and a 5 percent tax on wealth above $100 million.””

The money has already been taxed so they want to tax it again at 5% and then enact an additional “one-time” tax yet again called a surtax.

Something tells there is no such thing as a one-time tax with these people.


42 posted on 06/14/2021 2:18:51 PM PDT by plain talk
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

One time my ahz.🙄


43 posted on 06/14/2021 2:32:00 PM PDT by BiteYourSelf ( Earth first we'll strip mine the other planets later.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: ChicagoConservative27

Hey democrats, pay attention now:
ALL taxes are bad, ALWAYS!
When you are out of money, it’s time to quit spending.


44 posted on 06/14/2021 2:33:25 PM PDT by Graybeard58 (The China virus doesn't scare me, Venezuelaism does.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Lurkinanloomin

So if you don’t like people’s politics it’s OK to steal from them?
PS All people w/50M assets are not Leftists. Donald Trump...his family..My Pillow guy..and many others.
Let that camel get his nose in the tent and everyone will be targeted based on their possessions, house, family owned business every year.
America should end income tax entirely, disband the IRS and substitute a VAT on articles above a $ amount that are not necessities. Stop handing out refunds to folks that don’t pay in.


45 posted on 06/14/2021 2:41:58 PM PDT by JayGalt (The dogs bark but the caravan moves on.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: JayGalt

America should end income tax entirely, disband the IRS and substitute a VAT on articles above a $ amount that are not necessities. Stop handing out refunds to folks that don’t pay in.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I agree with this, but we will never repeal the 16th.


46 posted on 06/14/2021 2:46:57 PM PDT by Lurkinanloomin (Natural Born Citizens Are Born Here of Citizen Parents)(Know Islam, No Peace - No Islam, Know Peace)
[ Post Reply | Private Reply | To 45 | View Replies]

To: ChicagoConservative27

I support one, and only one, tax increase. Here is a free “Corrupt Gains Tax” form the IRS can adopt:
Line 1: If you are or were a US Senator or Congressperson on any day during the Tax Year, enter your family Net Worth at the beginning of the Tax Year.
Line 2: For those required to enter anything on Line 1, enter your family Net Worth at the end of the Tax Year.
Line 3: Subtract Line 1 from Line 2.
Line 4: Multiply Line 3 by 100%. Enter this amount on Line 666, “Corrupt Gains Tax”.


47 posted on 06/14/2021 2:53:54 PM PDT by Chewbarkah
[ Post Reply | Private Reply | To 1 | View Replies]

To: beancounter13

Obama is not a natural born citizen and Obamacare was found to be a “tax”.

Anything can happen.


48 posted on 06/14/2021 2:54:23 PM PDT by Lurkinanloomin (Natural Born Citizens Are Born Here of Citizen Parents)(Know Islam, No Peace - No Islam, Know Peace)
[ Post Reply | Private Reply | To 33 | View Replies]

To: ChicagoConservative27

The devil is in the details. Most wealth is not held in cash or cash equivalents. That means that a fair implementation will require investment value to be determined by “mark to market” — which is something Democrats have been wanting in order to raise more tax revenue in the short term. The top of the slippery slope...


49 posted on 06/14/2021 5:55:38 PM PDT by asinclair (Political hot air is a renewable energy resource)
[ Post Reply | Private Reply | To 1 | View Replies]

To: asinclair

There is another evil possible part of this. Eventually, if this tax turns out to be not a one-time tax, the wealthy will have to start liquidating assets. I’m sure most of them don’t have piles of money sitting around in vaults like Scrooge McDuck. Go on long enough and no one will have money to buy those assets except Fedgov, the Chicoms, or the Saudis.


50 posted on 06/14/2021 8:13:26 PM PDT by rxh4n1
[ Post Reply | Private Reply | To 49 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-50 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson