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Started By
Message
re: Warren’s Wealth Tax
Posted on 7/25/19 at 1:25 pm to BBONDS25
Posted on 7/25/19 at 1:25 pm to BBONDS25
Well many people have wealth that hasn’t been taxed as income yet.
Bezo’s wealth is in stock. He doesn’t pay tax on the growth until he sells it. If he doesn’t sell it, no tax.
Warren wants some of that
Bezo’s wealth is in stock. He doesn’t pay tax on the growth until he sells it. If he doesn’t sell it, no tax.
Warren wants some of that
2
Posted on 7/25/19 at 1:25 pm to OleWarSkuleAlum
quote:Are you so naive you believe those tax percentages would never increase or the minimum amounts would never decrease once the precedent has been set??
$50M at 2% and $1B at 3% seems pretty reasonable for a policy such as this.
Posted on 7/25/19 at 1:27 pm to SlidellCajun
Ironically, this will trigger many of you, but this is basically what zakat is in Islam, except it is across the board.
2% tax on what you have annually.
2% tax on what you have annually.
Posted on 7/25/19 at 1:28 pm to OleWarSkuleAlum
quote:
Yes when they are purposefully hiding from income and other taxes.
Income taxes on after tax dollars? What are you talking about?
Posted on 7/25/19 at 1:29 pm to SlidellCajun
What does taking the money accomplish?
Posted on 7/25/19 at 1:29 pm to SlidellCajun
I'll probably never even come close to that much wealth but this is outrageous and nothing short of theft
Posted on 7/25/19 at 1:30 pm to SlidellCajun
quote:
Well many people have wealth that hasn’t been taxed as income yet.
Because it’s not income. It’s one of the first code sections in the tax code. The definition of income. I feel like I’m taking crazy pills.
Posted on 7/25/19 at 1:30 pm to BBONDS25
quote:If you've followed his posting history you'd know he doesn't know what he's talking about...
What are you talking about?
Posted on 7/25/19 at 1:30 pm to SlidellCajun
Considering the record # of tax receipts fed gov has received every single year...why is there a need for more taxes?
We don't have a tax problem, we have a spending problem.
We don't have a tax problem, we have a spending problem.
Posted on 7/25/19 at 1:30 pm to LSURussian
—-“Are you so naive you believe those tax percentages would never increase or the minimum amounts would never decrease once the precedent has been set??”—-
No doubt. This is just the foot in the door proposal by Warren. 50mm will become $1mm over time.
No doubt. This is just the foot in the door proposal by Warren. 50mm will become $1mm over time.
This post was edited on 7/25/19 at 1:31 pm
Posted on 7/25/19 at 1:33 pm to SlidellCajun
quote:
So is this an idea that you care about? Do you think it could ever happen here?
I wish I could say this tax would effect me but sadly it would not. No way in hell this would ever go into law.
Posted on 7/25/19 at 1:35 pm to BBONDS25
quote:
Wait. You want to the government to regulate where people have their assets? Holy shite. You guys are insane.
Nope. If we are going with the approach of "send her back" or "love it or leave it" then it should apply to assets as well.
Is it America First or America First (only when it serves my needs)?
This post was edited on 7/25/19 at 1:48 pm
Posted on 7/25/19 at 1:37 pm to SlidellCajun
quote:
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration.
Nothing here about wealth. Income only. Try again, Liawatha.
Posted on 7/25/19 at 1:38 pm to boogiewoogie1978
quote:
Nope. If we are going with the approach of "send her back" or "love it or leave it" then it should apply to assets as well. Is it America First or America First (only when it serves me needs)?
Or basic diversification strategies used by the wealthy. I mean...my God. Some of you people opine with such hubris on subjects in which you are clearly ignorant. It’s amazing to watch.
Posted on 7/25/19 at 1:39 pm to BBONDS25
Their Stalin-loving hero, FDR, confiscated privately held gold.
Posted on 7/25/19 at 1:40 pm to OleWarSkuleAlum
quote:
I’m saying for a policy such as this the floor is reasonable and not the normal anyone making more than $100k needs to be taxed 50%!!!
Why should people be taxed on something they've already been taxed on top of their income tax?
Posted on 7/25/19 at 1:40 pm to OleWarSkuleAlum
quote:
$50M at 2% and $1B at 3% seems pretty reasonable for a policy such as this
Right. Just like the original average income tax bracket was 3.5% but look at it now.
Posted on 7/25/19 at 1:41 pm to LuckyTiger
quote:
People with $50M don’t keep it in their savings and checking accounts.
They keep it offshore and in trusts.
or blow it on cocaine and strippers which stimulates the economy in the inner cities. The free market works better that gubment ever could.
Posted on 7/25/19 at 1:43 pm to SlidellCajun
quote:
Bezo’s wealth is in stock. He doesn’t pay tax on the growth until he sells it. If he doesn’t sell it, no tax.
Those assets only have their assessed value if sold today. Imagine you have $50MM in stock and it gets taxed and you have to come out of pocket for $1MM. Then, the assets (stock, funds, whatever) plummets to zero. Not only did you lose your assets, you had to come out of pocket $1MM to pay the Fed Gov for the pleasure.
That is bullshite.
Posted on 7/25/19 at 1:47 pm to BBONDS25
quote:
Or basic diversification strategies used by the wealthy.
Do you support a globalist economy?
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