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

Comments

• sarktastic Member Posts: 9,208

  January 2019

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

  0 · Share on FacebookShare on Twitter
• HardlyClothed Member Posts: 937

  January 2019

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

  -4 · Share on FacebookShare on Twitter
• sarktastic Member Posts: 9,208

  January 2019

  I see you’ve fallen for it.
  
  Attacking the powerful thru your little man lens again. Predictable.

  0 · Share on FacebookShare on Twitter
• RoadTrip Member Posts: 8,145

  January 2019

  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.

  0 · Share on FacebookShare on Twitter
• Sledog Member Posts: 37,236

  January 2019

  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............

  0 · Share on FacebookShare on Twitter
• sarktastic Member Posts: 9,208

  January 2019

  Sandy said so.

  0 · Share on FacebookShare on Twitter
• 2001400ex Member Posts: 29,457

  January 2019

  I see some of you are triggered by Pocahontas.

  -7 · Share on FacebookShare on Twitter
• sarktastic Member Posts: 9,208

  January 2019

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

  0 · Share on FacebookShare on Twitter
• RaceBannon Member, Moderator, Swaye's Wigwam Posts: 113,168

  January 2019

  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

  13 · Share on FacebookShare on Twitter
• MikeDamone Member Posts: 37,781

  January 2019 edited January 2019

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

  0 · Share on FacebookShare on Twitter
• MikeDamone Member Posts: 37,781

  January 2019

  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.

  5 · Share on FacebookShare on Twitter
• WestlinnDuck Member Posts: 17,384

  January 2019

  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.

  5 · Share on FacebookShare on Twitter
• 2001400ex Member Posts: 29,457

  January 2019

  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.

  -7 · Share on FacebookShare on Twitter
• Rubberfist Member Posts: 1,373

  January 2019

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

  2 · Share on FacebookShare on Twitter
• RaceBannon Member, Moderator, Swaye's Wigwam Posts: 113,168

  January 2019

  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

  7 · Share on FacebookShare on Twitter
• MikeDamone Member Posts: 37,781

  January 2019

  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.

  3 · Share on FacebookShare on Twitter
• HHusky Member Posts: 23,647

  January 2019

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

  -4 · Share on FacebookShare on Twitter
• sarktastic Member Posts: 9,208

  January 2019

  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

  1 · Share on FacebookShare on Twitter
• MariotaTheGawd Member Posts: 1,441

  January 2019

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

  -5 · Share on FacebookShare on Twitter
• MikeDamone Member Posts: 37,781

  January 2019

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

  0 · Share on FacebookShare on Twitter