- Joined
- Mar 21, 2016
- Messages
- 12,126
- Reaction score
- 7,251
- Location
- Charleston, SC
- Gender
- Male
- Political Leaning
- Libertarian - Left
You, apparently, like SouthernDemocrat, think Warren's proposal is for an income tax.
Irrelevant. But technically you're wrong on that too. A person's net worth(particularly when it gets in the $50 million dollar range is invested to generate wealth. The capital gains that they make on those investments don't get taxed until they ultimately decide to sell the investment. This allows them all sorts of strategies to defer those taxes and in some cases not pay them at all. Warren's plan requires a tax be paid on that growing nest egg whether you sell any investments that year or not.
Regardless of how you want to spin it, there's nothing about this that would be more extreme than anything Denmark already does. It may be a different approach, but it's not radical or extreme.