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Sen. Elizabeth Warren is proposing a new tax on Americans with assets of $50 million or more as part of a bold new initiative to reverse the increasing concentration of wealth among the country's richest households.
According to documents provided by Warren's presidential campaign, the plan would impose a 2% tax on Americans whose net worth exceeds $50 million, with an additional 1% levy on billionaires. It does not specifically address marginal tax rates.
I think she's just trying to out-socialist AOC and her band of merry persons. It an arrow to put in her quiver of prog-socialist mantras.https://www.cnn.com/2019/01/24/politics/elizabeth-warren-2020-tax-plan-50-million-assets/index.html
I hate to break it to Senator Warren but we already have two wealth taxes in our country: Property and capital gains.
A recent report by the OECD observed that wealth taxes, though once common in developed countries, have gone out of style in recent years.
While 12 OECD members had wealth taxes in 1990, just four — France, Norway, Spain, and Switzerland — do today. Warren’s proposed rate would be slightly lower than Spain’s but higher than the other three. The OECD report observes that the decline of wealth taxes has been driven both by “administrative concerns and by the observation that net wealth taxes have frequently failed to meet their redistributive goals.”
In other words, not only do rich people not like paying wealth taxes but countries have tended to find that it’s challenging to make them do it.
Yeah, Venezuela has served as a training course for the loony left in Congress. Let's seize wealth, nationalize industries and limit free speech. What's the worst that can happen?Laugh all y'all want to but with tRump and the Republicans having swung the pendulum so far right, it could very easily swing way to the left soon.
https://www.cnn.com/2019/01/24/politics/elizabeth-warren-2020-tax-plan-50-million-assets/index.html
I hate to break it to Senator Warren but we already have two wealth taxes in our country: Property and capital gains.
Yeah, Venezuela
https://www.cnn.com/2019/01/24/politics/elizabeth-warren-2020-tax-plan-50-million-assets/index.html
I hate to break it to Senator Warren but we already have two wealth taxes in our country: Property and capital gains.
LOL, sure, socialism is socialism, you're being fed a line of bull by your "superiors".And here come the idiotic comparisons between authoritarian socialism and democratic socialism. Right on cue.
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