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

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Comments

  • 2001400ex2001400ex Member Posts: 29,457

    Uhh...no. It wouldn't move the tax burden to the poor and middle class.

    It puts a much greater burden on the rich in consumption of higher priced goods and services.

    Things like groceries are exempt.



    Yeah but there'd be no earned income credit and they'd pay federal taxes no matter what. Where right now, if you make under $50k with kids you don't pay any and if you make like $70k and are married with kids you don't pay income tax. (Those numbers are rough but you get the point).

    Imagine buying a $10k vehicle with a VAT plus State taxes if you made $50k a year. That purchase alone would be much greater than the federal income tax that person pays now.
  • SFGbobSFGbob Member Posts: 33,181

    Yep. The income tax has been such a needlessly complex mess full of all manner of distortions to the maket. We’d be better off reducing them dramatically and going mostly VAT.
    I agree with that but only if you eliminate the income tax before enacting the VAT. You'd have to have some fail safe measure that would require and extremely high bar to ever bring back an income tax. Because if you didn't you'd then be getting the worst of both worlds. High income taxes and a national sales tax.

  • HHuskyHHusky Member Posts: 22,355
    SFGbob said:

    Because they are Rats and they've always believed that they had an entitlement to the labor of others.
    I can’t be the only person here who is advocating things that would increase his own taxes. How do you propose we fund government, blob?
  • HHuskyHHusky Member Posts: 22,355

    Yep. The income tax has been such a needlessly complex mess full of all manner of distortions to the maket. We’d be better off reducing them dramatically and going mostly VAT.
    There’s a reason my wife and I deliberately make some purchases in Oregon. Why wouldn’t people making large purchases choose to make them outside of the US?
  • YellowSnowYellowSnow Moderator, Swaye's Wigwam Posts: 36,708 Founders Club
    edited January 2019
    HHusky said:

    There’s a reason my wife and I deliberately make some purchases in Oregon. Why wouldn’t people making large purchases choose to make them outside of the US?
    If you buy a car in Oregon and then register in WA do you have to pay sales tax in WA? Axing for a fren...
  • SFGbobSFGbob Member Posts: 33,181
    HHusky said:

    I can’t be the only person here who is advocating things that would increase his own taxes. How do you propose we fund government, blob?
    First of all I would shrink the size of government so that it only does the thing you Kunts cite to whenever you extol the virtues of paying taxes. Road, bridges, military, courts. A 15% top income tax rate, or a VAT or flat-tax no deductions.

    Grandma pays for her own fucking hip replacement and her retirement.
  • HHuskyHHusky Member Posts: 22,355
    edited January 2019

    If you buy a car in Oregon and then register in WA do you have to pay sale tax in WA? Axing for a fren...
    Yep. But that’s not true of multiple other items. The sales tax on a $1,500 - 2,000 shopping trip is not insignificant. Think laptops and furniture and countless other things.
  • SFGbobSFGbob Member Posts: 33,181
    HHusky said:

    Yep. But that’s not true of multiple other items. The sales tax on a $1,500 - 2,000 shopping trip is not insignificant.
    If you did that in California you would have to pay the sales tax on it when you registered it here.

    I'm sure that Washington does the same, don't know for certain but I can't image only California does that.
  • YellowSnowYellowSnow Moderator, Swaye's Wigwam Posts: 36,708 Founders Club
    HHusky said:

    Yep. But that’s not true of multiple other items. The sales tax on a $1,500 - 2,000 shopping trip is not insignificant. Think laptops and furniture and countless other things.
    Agree, but how are people going to bring back $1500 to $2000 worth of stuff from abroad tax free? Is everyone going to become a smuggler?
  • HHuskyHHusky Member Posts: 22,355
    SFGbob said:

    First of all I would shrink the size of government so that it only does the thing you Kunts cite to whenever you extol the virtues of paying taxes. Road, bridges, military, courts. A 15% top income tax rate, or a VAT or flat-tax no deductions.

    Grandma pays for her own fucking hip replacement and her retirement.
    SFGbob said:

    First of all I would shrink the size of government so that it only does the thing you Kunts cite to whenever you extol the virtues of paying taxes. Road, bridges, military, courts. A 15% top income tax rate, or a VAT or flat-tax no deductions.

    Grandma pays for her own fucking hip replacement and her retirement.
    So really your question was just rhetorical blather. You too think taxes must be levied and the question is how high they should be.
  • YellowSnowYellowSnow Moderator, Swaye's Wigwam Posts: 36,708 Founders Club
    SFGbob said:

    If you did that in California you would have to pay the sales tax on it when you registered it here.

    I'm sure that Washington does the same, don't know for certain but I can't image only California does that.
    WA works the same way.
  • 2001400ex2001400ex Member Posts: 29,457

    If you buy a car in Oregon and then register in WA do you have to pay sales tax in WA? Axing for a fren...
    Register in Montana through an LLC. Keep for a year, then register in WA. All my quads, SxS, fifth wheel and trailers are still registered in Montana. Street legal too.
  • MikeDamoneMikeDamone Member Posts: 37,781
    2001400ex said:

    Well if you think the tax on productivity is stupid and a VAT is the only one that is tolerable..... You tell me what that means.
    You’re the one who was so sure of the policies I want and you even know the consequences of the policies you say I want. Lay them out.

    Is an tax on income a tax on a preson’s productivity? Only a dumbass would think otherwise.
  • RaceBannonRaceBannon Member, Moderator, Swaye's Wigwam Posts: 109,610 Founders Club
    2001400ex said:

    Register in Montana through an LLC. Keep for a year, then register in WA. All my quads, SxS, fifth wheel and trailers are still registered in Montana. Street legal too.
    Figures the shill for higher taxes would avoid taxes like a cheat

  • MikeDamoneMikeDamone Member Posts: 37,781
    HHusky said:

    There’s a reason my wife and I deliberately make some purchases in Oregon. Why wouldn’t people making large purchases choose to make them outside of the US?
    You do realize that is illegal and is considered tax evasion by the state of Washington, right?
  • MikeDamoneMikeDamone Member Posts: 37,781
    edited January 2019
    Hondo and HDoog are now on record admitting to tax fraud. Why am I not suprised.
  • 2001400ex2001400ex Member Posts: 29,457

    Hondo and HDoog are now on record admitting to tax fraud. Why am I not suprised.

    I have a residence and a business in Montana. How is that tax fraud? Axing for a fren.
  • 2001400ex2001400ex Member Posts: 29,457

    You’re the one who was so sure of the policies I want and you even know the consequences of the policies you say I want. Lay them out.

    Is an tax on income a tax on a preson’s productivity? Only a dumbass would think otherwise.
    So you want no income tax and a VAT instead. Welcome to the last page of this thread. And I've outlined the consequences of that twice, to which you disagree.
  • MikeDamoneMikeDamone Member Posts: 37,781
    edited January 2019
    2001400ex said:

    So you want no income tax and a VAT instead. Welcome to the last page of this thread. And I've outlined the consequences of that twice, to which you disagree.
    So what are the policies I am advocating? What policies do a advocate with consumption tax? You seem to know since you know the consequences. So let everyone know the policies I advocate for. You’ve “outlined” nothing.
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