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Started By
Message
re: Warren’s 6% wealth tax is equivalent to an income tax of well over 100%
Posted on 11/1/19 at 11:53 am to Aubie Spr96
Posted on 11/1/19 at 11:53 am to Aubie Spr96
The 16th amendment. That one was way too easy 
That said, no way in hell Warren is passing a constitutional amendment to allow a wealth tax. Even if the tax is passed in congress, it’ll 100% get struck down by the courts
That said, no way in hell Warren is passing a constitutional amendment to allow a wealth tax. Even if the tax is passed in congress, it’ll 100% get struck down by the courts
This post was edited on 11/1/19 at 11:58 am
2
Posted on 11/1/19 at 11:56 am to HailHailtoMichigan!
if i were a multi millionaire today i think i would have to keep everything i owned in gold silver and diamonds and lock it in a safe and as far as the gubment knew i would be broke.
there would be the obvious swiss bank accounts as well but as far as the IRS and taxes go i would be considered poor.
this is what the rich will do and it will cause a complete shutdown of any investing in business or startup companies. there would be no point in creating a business when 100% of profits are already taken away from you before you even earn it
there would be the obvious swiss bank accounts as well but as far as the IRS and taxes go i would be considered poor.
this is what the rich will do and it will cause a complete shutdown of any investing in business or startup companies. there would be no point in creating a business when 100% of profits are already taken away from you before you even earn it
Posted on 11/1/19 at 11:57 am to Lsuhoohoo
quote:
Little Suzie Martinez died because her parents can't afford her inhaler.
Well, in CA, hormone replacement therapy is covered (for gender switching) but hearing aids for little kids are not. But that's what Suzie's parents voted for. So, like the good little Communists they are, they happily keep voting because it's the right thing to do. Because muh feelings.
Posted on 11/1/19 at 11:59 am to udtiger
quote:
It actually required a constitutional amendment
Right. It wasn't provided for in the constitution.
Posted on 11/1/19 at 12:01 pm to udtiger
quote:
Funny thing.
Constitution doesn't allow for a wealth tax.
funny thing is it also doesnt allow forcing people to buy insurance under obamacare yet a corrupt SC justice who was being blackmailed by the DNC and deep state rewrote the law (which is also not allowed by the constitution) and made unconstitutional the law of the land
Posted on 11/1/19 at 12:01 pm to imjustafatkid
quote:
Didn't allow for an income tax either, but we know how that worked out.
Which is why the Constitution was amended to include a tax on income. I don't see the Constitution being amended to include a tax on wealth.
Posted on 11/1/19 at 12:02 pm to Tchefuncte Tiger
quote:
I don't see the Constitution being amended to include a tax on wealth.
I'm sure if you told someone that there would be an income tax in 16 years in 1900, they'd laugh in your face.
Posted on 11/1/19 at 12:05 pm to keakar
quote:
f i were a multi millionaire today
Donate everything to a charitable foundation, that you create, and do "charitable" work with 5% of the ROI on the "donation". The other 95% keeps the G6 fueled up and ready to go.
Posted on 11/1/19 at 12:06 pm to HailHailtoMichigan!
Wait, her plan is 6%?
I remember when she floated "a 2% tax on the very wealthy" and I though to myself that many of these long term, massive nest-eggs are invested and only making 3%. So wiping out 2/3 of your earnings on investment sounded insane. Like it would crush investments.
SHE TRIPLED IT TO 6%???
I remember when she floated "a 2% tax on the very wealthy" and I though to myself that many of these long term, massive nest-eggs are invested and only making 3%. So wiping out 2/3 of your earnings on investment sounded insane. Like it would crush investments.
SHE TRIPLED IT TO 6%???
Posted on 11/1/19 at 12:12 pm to HempHead
quote:
I'm sure if you told someone that there would be an income tax in 16 years in 1900, they'd laugh in your face.
True.
Posted on 11/1/19 at 12:12 pm to HailHailtoMichigan!
And Washington DC will grow richer and richer.
Posted on 11/1/19 at 12:15 pm to tiggerthetooth
Good thing she doesn't have a chance in hell of winning.
Posted on 11/1/19 at 12:19 pm to Smeg
quote:
Their view is that *any* inheritance passed on gives a person an "unfair advantage" over another person who inherits nothing
So what. As a parent I want to give my kids every advantage possible.
And you know what, so do those libs you talk to. They just don’t it want YOURS to have an advantage.
Posted on 11/1/19 at 12:23 pm to funnystuff
quote:
That said, no way in hell Warren is passing a constitutional amendment to allow a wealth tax. Even if the tax is passed in congress, it’ll 100% get struck down by the courts
The courts can't strike down constitutional amendments. They judge if some specific thing is constitutional and a constitutional amendment literally changes the constitution.
Posted on 11/1/19 at 12:26 pm to memphis tiger
quote:
So what. As a parent I want to give my kids every advantage possible.
And you know what, so do those libs you talk to. They just don’t it want YOURS to have an advantage.
Damn, you put that perfectly and it's so true.
Posted on 11/1/19 at 12:26 pm to HailHailtoMichigan!
quote:
A 6% wealth tax seems small to joe blow, but it would lead to an outright collapse in capital investment
Vault/safe sales would go through the roof, though.
Posted on 11/1/19 at 12:28 pm to keakar
quote:
there would be the obvious swiss bank accounts
That's done. They have to report those now.
Since 2013. #ThanksObama
Progressives play the long game taught by their Chinese owners. Patience. Marathon, not a sprint.
Posted on 11/1/19 at 12:30 pm to funnystuff
quote:
Even if the tax is passed in congress, it’ll 100% get struck down by the courts
Judge Roberts says, not so fast.
Posted on 11/1/19 at 12:37 pm to JPinLondon
I think there were two tiers to her plan, 2% for net worth $50M to $1B, then 3% for >$1B. The updated plan is to increase that 3% to 6%.
Posted on 11/1/19 at 12:41 pm to GeneralLee
quote:
2% for net worth $50M to $1B
How are you going to get enforceable statements of net worth? Folks are just going to leverage to avoid all that crap.
Does these Marxists not understand that, for the truly wealthy, taxation is largely voluntary?
I suppose they do, because they will ultimately come for it all. The only question is - how long will the wealthy be able to put them off?
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