Wealth TAX??? Is this even America anymore?

https://www.latimes.com/business/hiltzik/la-fi-hiltzik-warren-wealth-tax-20190125-story.html

WTF

Already paying taxes on the money you earn each year isn’t enough for Ms. Warren?

I think I would rather talk about lottery dreams than the plight of people worth over $50,000,000. Of course there could be one smart response to this, but we'll have to see if anyone can think of the right reference.

Quote: happahero

https://www.latimes.com/business/hiltzik/la-fi-hiltzik-warren-wealth-tax-20190125-story.html

WTF

Already paying taxes on the money you earn each year isn’t enough for Ms. Warren?

#1 no it isn’t to these f’s. I told everyone the lunatics like her and the rest of the Dems will be trying to one up each other to win in 2020. 70% taxes, taking of property and other similar tactics appeal to losers who have nothing to show for their lives. And they believe there are enough jealous of hard work voters to make it a winning message. Robin Hood is alive and well with today’s Democratic voter. Only question is how far has the “racist” America fallen?

#2 There are people actually voting out there that think the Boomers ruined America with their belief in hard work, a house with a picket fence and 2.8 kids.

So yea, Warren isn’t even the worst of them, just read the comments on the HuffPost, assuming they still have them after the layoffs.

How dare you pre-judge out future President? Have you no sense of decency?

I think the reasoning is, "We're just making you pay the taxes that you should have been paying on this money when you earned it, before the Trump tax cut."

My main problem with wealth tax is, you pay tax on the same wealth multiple times.
From what I have heard, it is 2% on all wealth above $50 million, plus an extra 1% on anything above $1 billion.
Suppose you start with $1 billion.
The first year, you pay 2% of $950 million = $19 million
The second year, you pay 2% of (981 - 50) = 2% of $931 million = $18.62 million, and never mind the $931 million was already subjected to 2% tax the previous year.

Like Capital Gains tax or tax on savings, liberals always want to tax those who actually save and invest money that they already paid taxes on.

Silly people for trying to build a better future for themselves instead of buying Hookers and Blow.

That's how it starts, back in 1861 income taxes were a super tiny percent & only applied to the very well to do. Look at income taxes now.

This is going to be the exact same thing. 150 years from now its going to be wealth tax on 80% of the general population @ a rate that would seem ludicrous in 2019.

I hope our constitution is solid enough to defend us against this.

Quote: happahero

That's how it starts, back in 1861 income taxes were a super tiny percent & only applied to the very well to do. Look at income taxes now.

This is going to be the exact same thing. 150 years from now its going to be wealth tax on 80% of the general population @ a rate that world seem ludicrous in 2019.

I hope our constitution is solid enough to defend us against this.

That's it.

Quote: jackmagic777

How dare you pre-judge out future President? Have you no sense of decency?

I’m for Kamala, she did the same thing liberals want to put Harvey in jail for.

Unlike Colin, she took both knees.

Taking the willy from Willie.

$72k a year to start, finishes from Willie, no charge.

She thinks #metoo is an accomplishment for her.

Quote: Boz

Like Capital Gains tax or tax on savings, liberals always want to tax those who actually save and invest money that they already paid taxes on.

Silly people for trying to build a better future for themselves instead of buying Hookers and Blow.

Don’t get it twisted, hookers and blow are +EV investments. You just have to make sure money coming in far exceeds hookers & blow budget.