And how will the government know how much in assets one possesses? Will people be required to fill out a form every year listing every last thing they own? How will the value of these possessions be assessed? What will be the penalty for not disclosing that gold sitting in a vault somewhere, foreign properties, the million-dollar paintings, etc.
This will be great. Our government deserves and has a right to know what we have and don’t have and dole out our possessions to those less fortunate.
It would never pass. For now.
Yeah sure, I remember a Halfrican that ran for Pres. ran on a platform to raise taxes on the rich.
It then ended up taxing the lower Middle class.
The same Jackwagon that said you’ll save 2,500 dollars a year with Obummer Care and keep your doctor.
Pocohantas speak with Forked tongue.
A previous generation of state sovereignty-respecting Supreme Court justices had clarified limits on Congress’s power to appropriate taxes.
More specifically, Congress is able to tax only for what it can justify under its constitutional Article I, Section 8-limited powers and a few other expenses specified in Constitution.
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States."—Justice John Marshall, Gibbons v. Ogden, 1824.
Patriots need to elect a patriot Congress in 2020 that will not only promise to support PDJT’s plan for MAGA, but will also put a stop to unconstitutional federal taxes.
Warren is 13 eggs shy of a backer's dozen.
Pelosi family and democrat elites are shaking in their boots!
(Actually no they’re not, they’ll be exempt.)
It will eventually be lowered to $1.
That’s what happens when you have a do-nothing Congress that won’t prevent monopolies from getting grip.
I think a Show Business Tax is a far better idea.
Would this be a one time swipe, or would she tax the wealth every year? Because that would be double taxation. And would that reduce my capital gains tax when I got to sell my assets that have gained value?
Is this going to be the core of the 2020 Democrat primary? A bidding war to raise taxes?
Let me guess - Warren’s net worth is $49.99 million
The tax rate is already heavily tilted to tax more the wealthy than those that are not.
Why? That’s discriminatory.
Why don’t we ask liberal professors and students to pay “Their Fair Share”.
Let’s increase their taxes to bring fairness to the tax system.
People with that much money can well afford to make such “assets” disappear. What a moron.
Sutton’s Law. But not sure I believe she’s serious.
Let me guess...Our Privileged Senator is worth 40M
Warren goes half commie by taxing money that has already been taxed. This is a warm-up act for when they go full commie and confiscate everything.
So, marxism/socialism is officially here it appears.
It’s pitch fork time folks, just like France.
SOOOO—Myself & 4 friends go to the Kentucky Thorobred auction & buy a horse for $50,000 that turns out to be a magnificent animal & it wins the Triple Crown. That purchase is now worth millions in stud fees alone.
Warren want’s to put an extra tax on myself & my 4 partners?
How about Lottery winners???
Someone please remove her from the planet.
Conservatives who supported our Middle East wars for 15 years - to the tune of $7 trillion - can’t complain when somebody says it’s time to raise money to cover some of that debt. Wars throughout history have always led to debt and taxes. Yet the Bush/Cheney GOP - with eager support from too many Freepers - launched 15 years of costly warfare in the Middle East that has only created more chaos
Next time, you might ask what will it cost, and is the cost worth it, before you cheer the next invasion-nationbuilding proposal from the neocons and Hillary-Democrats