Posted on 01/24/2019 11:10:12 AM PST by DCBryan1
Sen. Elizabeth Warren, D-Mass., is planning to propose a "wealth tax" on some of the richest Americans, an economist who advises her told CNBC on Thursday.
The new tax from Warren, who recently announced her bid to challenge President Donald Trump in 2020, would only apply to Americans with more than $50 million in assets.
The Washington Post first reported the development.
Warren's proposal comes alongside other Democratic lawmakers' plans to raise taxes on the wealthiest Americans to pay for ambitious policy goals, including a "green new deal."
(Excerpt) Read more at cnbc.com ...
THEFT under color of law, and it never hits the rich, because they always leave themselves loopholes.
They always destroy the middle class, and will throw the poor under the bus in a nanosecond.
A foot in the door.
Oh there I go again, assuming people are honest!
They’re politicians-I should know better!
Nah, get that watering can ready for the tree of liberty.
CC
Warren is a commie, but just a pretty dumb one for a supposed Indian Princess and smartest woman since Eleanor Roosevelt.
Her new name should be Princess Red Liarwatha of the “Putin On the Moscow River” Tribe.
Actually Putin is the smarter Red. She just pretends to be intelligent, hoping to fool enough Americans all of the time to keep her in office, and not in the loony bin.
She’s not the biggest threat to America among the Democrats. Neither is Alexandra Offset-Cortex. They are too crazy to be allowed to succeed beyond where they are now.
The dangers are Sherrod Brown, Kluckhar (sp), Harris the whore, and Sinema.
Lizzie Warren took a tax
And gave the economy 40 whacks
When she saw what she had done
She gave the country 41
So, tax all the $50 and up millionaires? What, all 10 of them?
All these people know how to do is steal from people who worked for their money.
Aside from that, they have no other solutions to any problem anywhere.
Most will leave, go Galt and say sayonara to the money grabbers............I live on a cul-de-sac. One of my neighbors is from Venezuela....................
LOL. This clown still thinks that she is relevant. No one cares Liz. There is a real minority who has stolen your Socialist thunder — dopey Alexandria Ocasio-Cortez. It must drive Liz insane that a dope like Ocasio-Cortez is now the darling of the Socialist Left and that they have moved on from Harvard professor Liz.
17th Amendment too..
Don’t worry, the Gov will soon take over 401K’s. Guarantee a 1% return and make sure everyone gets a sliver of the pie! What could possibly go wrong?
Not when the ramifications of the tax tanktye economy. You may not have to pay it directly but indirectly it will affect everyone
Think again. This gets their foot in the door. They’ll modify this, year after year, because the democrats believe all money belongs to the government.
Words have meanings. It’s not a tax on wealth. It’s a little-at-a-time confiscation. Every year the government takes a percentage.
The “income” tax is an abomination. This is worse.
They don’t have the courage to admit that they are communists and don’t believe in private property of any kind and want government to own it all.
Furthermore they are hypocrites. The ruling elite (nomenklatura in Soviet Union) gets everything it wants and scorns the ordinary folk.
They target the middle class, but specifically seniors who are unable to recover from the manipulated crisis.
What about when income is from dividend checks? Do you not consider that sweat from the brow? Do you not think seniors worked for that? Its always the responsible middle class seniors who get screwed in the end.
Its time to end the existence of millions of socialists infecting this country.
Go all the way.
How about a new policy something like this:
At tax time each year anyone with a net worth of $500,000 or more (including real property) gets to keep only $500,000 in assets.
Any assets in excess of the $500,000 limit will be surrendered to the federal government and used only to take care of the families of KIA military vets and law enforcement officers and pay down the national debt.
Real estate and other non-liquid assets must be turned over to the government or sold to bring the value of retained assets down to the $500,000 limit.
There will be no exceptions for anyone, especially government officials and employees.
Before implementing the plan nationwide run a 5 year Beta Test in one state - Massachusetts - to evaluate the policy, its impact and unforeseen consequences.
What will be the result of an asinine policy such as the one Grey Beaver proposes?
Tax receipts will probably decline as wealth generators take protective action.
The wealthy will use loopholes conveniently built in to protect democrat financial supporters and/or
they will simply leave the USA and take up residence in a tax haven somewhere else in the world.
Instead of allowing profits to be taxed away corporations will plow it back into deductible expenditures
or find other ways to protect it from confiscation by democrats.
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.