the very definition of theft.
I’m actually not opposed to this.
These are the people who are turning our country into North Mexico.
Let them pay for it.
I propose an A****** tax on politicians.
Suozzi? Maybe he changed his name from “Turk” Sollozzo.
A jobs killer.
When Democrats say “one-time” they mean all the time.
Well, since nearly everyone in Congress qualifies as a multimillionaire, I wonder if they will exempt themselves from this tax. And what about the multi-billionaires who make up such a large percentage of the Dems’ donors? Will they be exempted also?
One time charge? How often has that been a lie to the citizens? Gee a NY DemoRat who loves to tax. Such a rarity.
Most of the super rich voted for Biden. Seems like they deserve it.
soon to be expat tax
And to think that our Founding Fathers risked life and death over a tea tax.
Maybe it’s that time again.
Typical know-nothing policy from a Democrat. Yeah, let’s follow the Super Tax that Great Britain levied in the late 1960’s and drive all of the wealth out of the country. These idiots refuse to admit that the wealthy drive this economic engine through capital formation. The US denigrates the rich and idolizes the poor? Why? How many of you were hired by a poor person?
If I have 20% of the economic pie and you have only 5%, the Democrats idea is to take away from (productive) people and transfer it to (less productive) people...a zero-sum game. How ‘bout this instead: Use monetary and fiscal policies to foster economic growth and increase the size of the pie. If the pie grows by 10% and prices are stable, you just got a 10% increase in your real income without penalizing either sector. A rising tide lifts all boats. The Liberal idea of sinking all the yachts does little but put everyone into a row boat. Socialism at its best!
Learn some economics before you start changing economic policy.
A ‘WEALTH Tax’ is a very different beast from an ‘INCOME Tax’ and would almost certainly need, as did the Income Tax, a Constitutional Amendment barring the Dems packing the Supreme Court.
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...
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That would be the confiscation of $1,250,000 dollars on $50M in assets. If allowed, you can bet it would not stop there. Leftists would continue the confiscation year after year, moving down the scale to $10M, then anyone with a net worth of $1M.
It’s not patriotic, it won’t be one time and it also won’t be on just the “rich”.
How will ‘wealth’ be determined? Will IRS agents be dispatched to suspected billionaires’ homes, safe-deposit boxes, etc.? The devil is in the details.
None of these economy sabotaging laws that might be passed while the ideological leftists dominate our government, are irreversible. But we need someone other than mindlessly grazing RINOs in office to restore sanity.
This is why the Democrat leftists are the greatest threat to America in our lifetimes, even superseding China. The Democrats will cavalierly diminish and destroy our Constitution. But they will scream bloody murder if anyone thinks of touching their corrupt and idiotic taxation legislation. So, bloody murder it is.
“A government big enough to give you everything you want, is a government big enough to take away everything that you have.”
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If anybody believes that they are taxing themselves and their contributors....forget it. They are not going to do that. Common sense ought to kick in when we hear stuff like this. They will tax those that don’t fall in line with them.
They can’t stand other people’s success.
No. I would support the ending of all tax shelters like the creation of “foundations” and fake non-profits used to enrich these kinds of people and allow them to retain use of the money while avoiding taxes. I would also support a true alternative minimum tax for very high income people such that their marginal tax is a true 35% without any deductions allowed for income about 5m/yr. I do not support any kind of wealth tax. I would prefer a consumption tax to replace the income tax.