Is it reasonable to implement a "wealth tax" to help our nation?
Forums:
Absolutely.
https://www.cnbc.com/2019/01/24/elizabeth-warren-to-propose-new-wealth-t...
Elizabeth Warren proposes ‘wealth tax’ on Americans with more than $50 million in assets
Sen. Elizabeth Warren, D-Mass., has proposed a “wealth tax” on some of the richest Americans.
The new tax from Warren, who recently announced her bid to challengePresident Donald Trump in 2020, would only apply to Americans with more than $50 million in assets.
Her Twitter announcement on Thursday came hours after an economist who advises her told CNBC he believed the proposal would soon be made official.
“We helped her with the numbers,” economist Emmanuel Saez told CNBC. He said his understanding was that the Warren team had already spoken with the Post at the time he told them the details of the report.
The wealth tax is projected to apply to less than 0.1 percent of U.S. households, and would raise $2.75 trillion over 10 years, Saez said.
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Top of Page Bottom of Page PermalinkFull Name: Hitchhiker awaiting "true call"
What would the money be spent
What would the money be spent on?
Top of Page Bottom of Page PermalinkFull Name: skyjunk
I always liked the idea of
I always liked the idea of giving us all of our pay money and taxing us as we spend it. Brings in a bunch of all that drug and gambling money or that paid cash under the table.
and why does no one talk about the taxes for alcohol, buds, cigs, and car insurance going towards offsetting a national health care plan?, and a part off all rich people money too And buds will be in there because it will be hard to argue it shouldn’t be.
Top of Page Bottom of Page PermalinkFull Name: good at drinking water
https://en.m.wikipedia.org
https://en.m.wikipedia.org/wiki/Cigarette_taxes_in_the_United_States
Top of Page Bottom of Page PermalinkFull Name: Charlie
If rich people can afford
If rich people can afford this without causing them any undo pain and suffering I might be for it. But then again I might be called a communist. Tough decision.
Top of Page Bottom of Page PermalinkFull Name: 19.5 Degrees
What would the money be spent
What would the money be spent on?<<<
good question
I would want to see a lion's share work to pay down the national debt
Top of Page Bottom of Page PermalinkFull Name: Richard Cranium
How do they get a list of the
How do they get a list of the rich people's assets? Sounds like a bureaucratic nightmare. And another reason Pochantas will not get elected.
Top of Page Bottom of Page PermalinkFull Name: Old Fart Message Board
^They claim them on their
^They claim them on their taxes.
Top of Page Bottom of Page PermalinkFull Name: Old Fart Message Board
^They claim them on their
^They claim them on their taxes.
Top of Page Bottom of Page PermalinkFull Name: gypsy tailwind
>>> How do they get a list of
>>> How do they get a list of the rich people's assets? Sounds like a bureaucratic nightmare. And another reason Pochantas will not get elected. <<<
FDR laid a roadmap in the new deal.
This has been done before in our country.
Top of Page Bottom of Page PermalinkFull Name: Hitchhiker awaiting "true call"
Did we ever build working
Did we ever build working class housing before? What happened?
Where did our wrong side of the tracks culture go?
Top of Page Bottom of Page PermalinkFull Name: Zzzzzz
She has a net worth around $4
She has a net worth around $4-10 million. I find it interesting where she draws the line. Why 50? Why not ten? Why not 100?
Top of Page Bottom of Page PermalinkFull Name: gypsy tailwind
Ronald Reagan happened Slack.
Ronald Reagan happened Slack.
Top of Page Bottom of Page PermalinkFull Name: Hitchhiker awaiting "true call"
Two two term Dems also
Two two term Dems also happened but neither of them cared.
Top of Page Bottom of Page PermalinkFull Name: gypsy tailwind
Which one of the 2 teams
Which one of the 2 teams cares about people of lesser means more?
Top of Page Bottom of Page PermalinkFull Name: Hitchhiker awaiting "true call"
Neither.
Neither.
Both parties have wealth.
Top of Page Bottom of Page PermalinkFull Name: gypsy tailwind
If it wasn't for wealth,
If it wasn't for wealth, whose pool would you clean?
Are pools a necessity or a luxury?
Top of Page Bottom of Page PermalinkFull Name: Hitchhiker awaiting "true call"
Are homes and food a
Are homes and food a necessity or luxury?
Why can't we live in a good school district after 70 hours worked?
Top of Page Bottom of Page PermalinkFull Name: New & Improved
Life causes death, Slacker.
Life causes death, Slacker.
Hence?
Top of Page Bottom of Page PermalinkFull Name: Hitchhiker awaiting "true call"
You nimbys just don't want
You nimbys just don't want the service workers of your towns roaming around as residents dirtying up the place.
You guys suck.
Top of Page Bottom of Page PermalinkFull Name: gypsy tailwind
Because employers refuse to
>>> Why can't we live in a good school district after 70 hours worked?
Because employers refuse to pay fair wages for good work leading to income inequality.
School Districts receive funding based on local property taxes i.e. wealthy neighborhoods receive more.
Top of Page Bottom of Page PermalinkFull Name: An organ grinder’s tune
>What would the money be
>What would the money be spent on? <
education
health care
housing...
you know, if corporations paid their faire share of taxes....weren't able to send it to the cayman islands and defraud the nation, maybe we could afford shit?
just a thought...
Top of Page Bottom of Page PermalinkFull Name: thinthread
Oh we're just fucked plain &
Oh we're just fucked plain & simple. boo-hoo
Top of Page Bottom of Page PermalinkFull Name: Briank
I’d do a simple cost/benefit
I’d do a simple cost/benefit analysis.
Let’s take the 5 wealthiest American billionaires, Bezos, Gates, Walton, whoever. They are worth an average of something like $80 billion each. Flat tax them at 20%, which would yield $100 billion in tax revenue.
Would those taxes negatively affect their persons or their businesses? If so, how much? Would that revenue, if spent wisely (ha!), have a greater benefit?
So, if it really wouldn’t affect the billionaires, and could provide healthcare to the nation, I’d say it’s a good thing.
Top of Page Bottom of Page PermalinkFull Name: Old Fart Message Board
Slack, you’re always getting
Slack, you’re always getting into arguments with all these white ass motherfuckers on here man
Top of Page Bottom of Page PermalinkFull Name: GravyTrain
Quit whining because you can
Quit whining because you can’t afford to live in an expensive neighborhood, Slack. You chose wrong when you chose to drop out of school. Move. Living in ritzy school districts isn’t a civil right.
Now if you want to talk about making ALL schools “good” then the wealth tax is a starting point.
Notice how there’s not much complaining about housing costs in Fresno on this site?
Top of Page Bottom of Page PermalinkFull Name: Hitchhiker awaiting "true call"
>>>>Living in ritzy school
>>>>Living in ritzy school districts isn’t a civil right.
I'll keep trying. You keep gentrifying.
Top of Page Bottom of Page PermalinkFull Name: GravyTrain
You got it all wrong, man. I
You got it all wrong, man. I’m not gentrifying, I’m decolonizing. Our neighbor across the street delivers us pizza, when we can afford it.
The days of paying off a mortgage and car etc on a high school diploma-level (or less) job were over when you were born. How come you didn’t know about it? Didn’t punk rock teach you anything? DIY, baby.
Top of Page Bottom of Page PermalinkFull Name: _
Hard cringe.
Hard cringe.
Top of Page Bottom of Page PermalinkFull Name: GravyTrain
Mmmm...mom’s tasty bagels !
Mmmm...mom’s tasty bagels !
Top of Page Bottom of Page PermalinkFull Name: _
Sad cringe.
Sad cringe.
Top of Page Bottom of Page PermalinkFull Name: skyjunk
Why is it that we do not want
Why is it that we do not want to educate the poor?
one of the biggest problems in this country
Top of Page Bottom of Page PermalinkFull Name: Dr. Benway
something i think about often
something i think about often but dont know enough about economics to know if it would be viable or not -
would it be possible to introduce tiers relating to business size and profits that not only separate businesses into different tax brackets based on size, but also separates them into different regulatory brackets, with on one end very small mom and pop businesses basically being able to operate under a libertarian model of regulation and taxing, with many tiers above it that goes all the way up to the most massive multinational corporations, which would be operating under heavy regulation and much, much higher taxes closer to democratic socalism? perhaps with many different tiers with very gradually increasing requirements and regulations/taxes, set up in such a way that would not encourage businesses to stay under a certain size to retain a specific regulatory tier?
it seems like with a fairly large number of different tax/regulatory tiers, americans could have the best of both worlds, with huge corporations and the super rich being heavily taxed, with heavy environmental regulation, and smaller businesses, like a mom and pop shop or medium sized local chain, could operate free from restrictive regulations, grow the economy and provide the community with jobs unfettered by heavy labor regulations or rising minimum wages.
Top of Page Bottom of Page PermalinkFull Name: An organ grinder’s tune
https://www.epi.org
https://www.epi.org/publication/ib364-corporate-tax-rates-and-economic-g...
The U.S. corporate income-tax rate is also not high by historic standards. The statutory corporate tax rate has gradually been reduced from over 50 percent in the 1950s to its current 35 percent. The current U.S. corporate tax rate does not appear to be impeding corporate profits
Top of Page Bottom of Page PermalinkFull Name: |-|/-\|_|_
Define "wealth"
Define "wealth".
BTW, if you make over $32,400 per year, you are a global one percenter.
https://www.investopedia.com/articles/personal-finance/050615/are-you-top-one-percent-world.asp
Top of Page Bottom of Page PermalinkFull Name: El Nino
I think Sweden has the
I think Sweden has the highest rate in the world at 60% for all income over about $75,000, and still Ingvar Kamprad the founder of IKEA is reported to be worth $23 billion.
I don't understand how Warren's plan is constitutional. I thought the feds could only tax income. Anyway love that Warren and AOC are moving the goal posts back. They have been moved so far right over the last 30 years that they aren't even in the stadium anymore. I mean Republicans attacking AOC's plan don't even understand what a marginal tax rate is.
Top of Page Bottom of Page PermalinkFull Name: GravyTrain
>>>Define “wealth”.
>>>Define “wealth”.
She did (this is Liz Warren’s proposal): Over $50 million in assets pays 2%. Over $1 billion pays 3%.
Totally reasonable, imo.
Top of Page Bottom of Page PermalinkFull Name: An organ grinder’s tune
Corporations pay little to
Corporations pay little to sometimes no income tax.
Get tax breaks...have no allegiance to the county but are "citizens" and afforded said rights.
When ceos run business into the ground they get bailouts and 100million buy out packages.
What is wrong?
Top of Page Bottom of Page PermalinkFull Name: Def. High
Only problem with corporate
Only problem with corporate taxes is they always get passed on to the consumer.
Top of Page Bottom of Page PermalinkFull Name: nebulous nelly
>I thought the feds could
>I thought the feds could only tax income<
Federal excise tax revenues—collected mostly from sales of motor fuel, airline tickets, tobacco, alcohol, and health-related goods and services—totaled $83.8 billion in 2017, or 2.5 percent of federal tax receipts.
https://www.taxpolicycenter.org/briefing-book/what-are-major-federal-exc....