What a moron, literally anyone with more than 100 million in wealth will just move their money and residence outside the USA, they will never pay a single cent in that tax.
Why do people continue to be so utterly foolish and naive?!
this is a prelude to taxing everyone but the rich.
Don't forget, if you leave the US by just moving, you still have to pay income tax, although you still have a deduction of something like 85K for living abroad.
If you renounce your citizenship, you have to pay a mark to market capital gains exit tax, which might be quite high, althought it's a one time hit to wealth.
AFAIK, these are INCOME tax proposals. Although, a wealth tax proposal wouldn't surprise me. Lizzy Warren is on record as wanting one.
What a moron
************
The “moron” is systematically dismantling this once great country. Just saying.
US Citizens can’t escape the IRS. You have to renounce your citizenship.
Add evil to the mix and you have it!
Democrat voters are Dummycrats, that's why! Not that deplorable Republicans like McConnell and Romney are that much better.
You are obviously correct but house not going to approve any tax increases