Posted on 11/12/2019 7:34:08 PM PST by karpov
Sen. Elizabeth Warren (D-Mass.), a leading Democratic presidential contender, claimed that billionaires would barely pay any money under her proposed wealth tax while on the campaign trail on Nov. 11.
“Maybe you’ve heard, there are some billionaires who don’t like this. Yes, they’ve been interviewed on TV, I’ve noticed lately. So sad. So sad that they might have to pay two cents out of their bazillion dollars,” Warren told the crowd.
“So here’s the thing. And they say, you know, I worked hard. Yeah, unlike anyone else.”
Warren, 70, proposed an “Ultra-Millionaire Tax” earlier this year that would place “an annual 2 percent tax on every dollar of net worth above $50 million and a 3 percent tax on every dollar of net worth above $1 billion.”
If rich people try to leave the United States if the tax is passed, it would include a 40 percent “exit tax” on the net worth above $50 million for any American citizen who renounces their citizenship.
Warren upped the proposed tax on billionaires in her recently released Medicare for All plan. “Today, I’m going one step further. By asking billionaires to pitch in six cents on each dollar of net worth above $1 billion, we can raise an additional $1 trillion in revenue and further close the gap between what middle-class families pay as a percentage of their wealth and what the top one-tenth of one percent pay,” she wrote.
(Excerpt) Read more at theepochtimes.com ...
A wealth tax will not happen. It violates Article 1, Section 9, item 4 of the constitution. Even if she tries it will be hung up in court for years.
All socialists want all your stuff. not only vecause they’re greedy sob’s but because they believe they deserve it more than you do.
Two cent tax on every penny earned.
Has anyone bothered to ask her what provision of the Constitution would allow this kind of property confiscation?
I didn’t think so.
No - ALREADY earned.
Fauxcahontas wants your wampum.
this whole “wealth tax” is nothing but an unconstitutional property confiscation scheme; the income tax wasn’t constitutional until the 16th amendment was passed, and it addresses income specifically and exclusively ... a wealth tax is a leftist fascist pipe dream as long as we have a legitimate SCOTUS ...
Will the same people who set up "sanctuary cities" and who label border-violators "dreamers" who are "acting out of love" now advocate building a wall to keep the wealthy from leaving the country?
Regards,
Yep, the "Reichsfluchtsteuer" and "Judenvermögensabgabe." And East Germany unabashedly continued that practice against "Republikflüchtlinge."
Regards,
Yeah, I agree.
“...She’s a nauseating liar and demagogue.....”
The demonic witch knows that IF she can get it on the books, regardless of small, the communists will increase/modify the percentage as time goes on....Just like what was done with the federal tax. It started off on a small amount. Look at that atrocity today! No...no damn “wealth tax”....no more of other peoples’ money going to support communism’s wet dreams.
Always remember, her plan(s) will increase the annual budget by 5.2 trillions dollars a year. That is 2 trillion more than the current annual budget is currently so how will she increase spending by 5.2 trillion by only adding 2 cent tax? You have to be an incoherent idiot to believe anything that comes out of her mouth!!
yes
“ literally insane”
Have you noticed this woman’s face? Her eyes? Her voice?
Not to mention her words and “ ideas”
“an annual 2 percent tax on every dollar of net worth above $50 million and a 3 percent tax on every dollar of net worth above $1 billion.”
And how would she plan on implementing that?
Bill Gates has a net worth of about 190 billion. nearly all of that is in stock - let’s assume it is in Microsoft stock
Say she charges him 0.2% per year.
So he need to pay 190 million a year.
So he needs to sell off 190 million worth of MS stock each year.
That’s going to hit the stock and send it crashing.
now imagine every billionaire doing that, every year.
Wowser - talk of great depression.
oh wait - she said 2% not 0.2% — that means Gates has to sell off 1.9 BILLION worth of MS stock every year. that’s going to destroy the stock market more than the great depression
you are correct.
And also - they don’t have this kind of money just lying about.
Gates, Buffet, Bezos etc are “paper rich” - their money is in shares
The socialists want their “fair share” of your stuff.
The tricky part is when you ask them for YOUR “fair share” of their stuff...
What makes her think the rich won't exit the country immediately if she were elected but BEFORE the legislation was passed?
The rich didn't get rich by stupidly standing around waiting for the 2X4 to whack them in the face.
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