Elizabeth Warren proposes 'wealth tax' on Americans with more than $50 million in assets

DerekJohnson

https://cnbc.com/2019/01/24/elizabeth-warren-to-propose-new-wealth-tax-economic-advisor.html

sarktastic

C’mon Sandy, 70% Wealth Tax. What happened to your Balls?

HardlyClothed

Start it at $20M instead of $50M and now we’re talking

sarktastic

I see you’ve fallen for it.

Attacking the powerful thru your little man lens again. Predictable.

RoadTrip

HardlyClothed said:

Start it at $20M instead of $50M and now we’re talking

Why dont we just start by offing worthless freeshitters? We can start with you.

Sledog

HardlyClothed said:

Start it at $20M instead of $50M and now we’re talking

Please explain what gives you the right to other people property? I'll wait here............

sarktastic

Sandy said so.

2001400ex

I see some of you are triggered by Pocahontas.

sarktastic

Sandy/Pocahontas 2024 (or 2028 if she isn’t old enuff yet)

RaceBannon

You mean the Indian?

How do you get 3 trillion dollars from 0.1% of the country?

I'll take my answer off the air

MikeDamone

It’s unconstitutional, but sure. But she knows this and will go ahead and push a low that this possible with an amendment.

MikeDamone

RaceBannon said:

You mean the Indian?

How do you get 3 trillion dollars from 0.1% of the country?

I'll take my answer off the air

You don’t get. It’s only the tippy top that we are talking about.

WestlinnDuck

Wealth tax is a horrible idea. If you want to kill small business in the US this is a great place to start. The estate tax is a wealth tax and only administered generally after the last surviving spouse dies. That’s once in two lifetimes. Anyone associated with large estates realizes that valuing a large estate which includes partnerships, LLCs and non-publicly traded corporations is a nightmare for both the estate and the IRS. The cash and publicly traded securities are easy to value. Real estate alone is hard to value. Try hundreds of parcels of real estate owned by a variety of partnerships, LLCs and corporations. Then try to value a minority interest in a successful small business family owned corporation.

Then try an annual wealth tax where all this would need to be done annually instead of once in two lifetimes. It’s almost like leftards hate private sector US employment of US citizens. What we are seeing is the complete failure of the US public education system. That is if you define failure as complete lack of knowledge of math, science, history and economics. If you define failure as not creating an educated independent freedom loving citizenry – then we have a smashing success on our hands.

2001400ex

RaceBannon said:

You mean the Indian?

How do you get 3 trillion dollars from 0.1% of the country?

I'll take my answer off the air

You confiscate their wealth.

Rubberfist

She is such an idiot. Could you imagine the difficulty of trying to estimate the value of hard assets EVERY year?

RaceBannon

Rubberfist said:

She is such an idiot. Could you imagine the difficulty of trying to estimate the value of hard assets EVERY year?

And yet all the smart kids here don't have a problem with it

Makes you wonder

MikeDamone

WestlinnDuck said:

Wealth tax is a horrible idea. If you want to kill small business in the US this is a great place to start. The estate tax is a wealth tax and only administered generally after the last surviving spouse dies. That’s once in two lifetimes. Anyone associated with large estates realizes that valuing a large estate which includes partnerships, LLCs and non-publicly traded corporations is a nightmare for both the estate and the IRS. The cash and publicly traded securities are easy to value. Real estate alone is hard to value. Try hundreds of parcels of real estate owned by a variety of partnerships, LLCs and corporations. Then try to value a minority interest in a successful small business family owned corporation.

Then try an annual wealth tax where all this would need to be done annually instead of once in two lifetimes. It’s almost like leftards hate private sector US employment of US citizens. What we are seeing is the complete failure of the US public education system. That is if you define failure as complete lack of knowledge of math, science, history and economics. If you define failure as not creating an educated independent freedom loving citizenry – then we have a smashing success on our hands.

It’s also unconstitutional. So there is that.

HHusky

I’m with Westy. Let’s just re-enact a meaningful estate tax and leave it at that.

sarktastic

Property leins.

Rubberfist said:

She is such an idiot. Could you imagine the difficulty of trying to estimate the value of hard assets EVERY year?

Easy. Value is always acquisition cost adjusted upward by Government Valuation Officers.

No different really than WADOL charging you Tabs based on MSRP

MariotaTheGawd

It's always entertaining to see a bunch of thousandaire boot lickers preparing for the day when they too will be rich

MikeDamone

I thought we didn’t deal in hypotheticals. This cannot happen without a constitutional amendment.