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2019-01-26 Home Front: Politix

Elizabeth Warren proposes 'wealth tax' on the very rich

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Posted by Besoeker 2019-01-26 02:23|| || Front Page|| [11132 views ] Top

#1 Thank God there is no legal authority for a wealth tax

Posted by Jim Cramer6666666 2019-01-26 05:03|| 2019-01-26 05:03|| Front Page Top

#2 Including hers Silicon Valley "friends"?

Posted by g(r)omgoru 2019-01-26 06:42|| 2019-01-26 06:42|| Front Page Top

#3 There's a line on the Massachusetts state income tax return (Line 22 for the 2018 tax year) that allows for the voluntary election to pay a higher rate of state taxes (5.85%, normal rate is 5.1%). This line has been on the form for a long, long time, and Elizabeth Warren has never opted to pay this higher rate on any filed tax return since she's been a resident of Mass. Until I see evidence that she has volunteered to pay extra taxes, she can go piss up a rope.

Posted by Raj 2019-01-26 07:04|| 2019-01-26 07:04|| Front Page Top

#4 It would be like a 'pay in advance' inheritance tax - 100% (to a first approximation) if you live long enough.

Posted by Glenmore 2019-01-26 08:24|| 2019-01-26 08:24|| Front Page Top

#5 Liawatha must think that billionaires like Jeff Bezos keep their money in cash, checking accounts or some other liquid form. Unfortunately, I would expect that most of their wealth is in stocks and other assets that aren't easily converted to cash. If Jeff Bezos suddenly had to raise several billion dollars, it would probably have a major impact on the stock market.

Posted by Rambler in Virginia 2019-01-26 09:17|| 2019-01-26 09:17|| Front Page Top

#6 They want a Nat'l property tax.

I'm fine with that if they also go back to only property owners can vote. /sarc

VAT here we come!!

Posted by AlanC 2019-01-26 09:27|| 2019-01-26 09:27|| Front Page Top

#7 "The theory of Communism may be summed up in one sentence: Abolish all private property."
~ Karl Marx

Posted by Besoeker 2019-01-26 09:34|| 2019-01-26 09:34|| Front Page Top

#8 The U.S. income tax is a progressive tax. As such, it is an increasing tax on the wealthy; a wealth tax. We already have a wealth tax. How about a tax on the hot air of Congresscritters or scamming?

Posted by JohnQC 2019-01-26 09:40|| 2019-01-26 09:40|| Front Page Top

#9 There are perfectly reasonable public policy perspectives that give rise to skeptical views of large and persistent concentrations of wealth remaining in a few hands over long periods of time. See e.g., the leftist billionaires; their control of our media and their infliction of know-nothing socialists upon us. Would that they didn't have the means to drive the debate, no?

Posted by Percy Speaking for Boskone6553 2019-01-26 10:40|| 2019-01-26 10:40|| Front Page Top

#10 And what is she gonna do with all this money?

Posted by Abu Uluque 2019-01-26 13:22|| 2019-01-26 13:22|| Front Page Top

#11 Buy the votes of everyone in the dependent tax bracket.

Posted by gorb 2019-01-26 18:26|| 2019-01-26 18:26|| Front Page Top

#12 An addiction to Other Peoples Money™ and confusion over the difference between $Money$ and Wealth... After you confiscate all their wealth they will have no money to give you next year ... or is that concept too complicated?

Posted by magpie 2019-01-26 19:34|| 2019-01-26 19:34|| Front Page Top

#13 "Wealth is created. There’s not a fixed quantity of it. So billionaires don’t take anything away from anyone. Even just stating it like that is worth doing. Because deep down, people know it is true. They know that people do useful things or make useful things when they do work."

Posted by newc 2019-01-26 21:41|| 2019-01-26 21:41|| Front Page Top

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