Sen. Elizabeth Warren introduces "ultra-millionaire" wealth tax bill

As a percentage of income, yes, they pay less depending on how you define "earner".
The few people that receive the most money per year pay the most by far. But, when your earned income is basically 0 and you are paying 15% Cap gains and some shmuck is paying 35% because he has a nice big salary, it needs to be fixed.

 

If they have that much money making zero interest....well they don’t lol
And they’d only pay it the first year anyway since they’d fall below 50 million immediately if they just kept 50 million in their checking gaining no intentes lol

 

and if you can keep inflation from ever happening, I am fine with never raising the min wage

the problem now is that inflation has way outpaced the min wage

so sounds like we agree on this one

 

Yes.

 

Yep, though I suspect you are far more optimistic than I am about raising the minimum wage to 15.

I also dislike the culture of hating those who have more than you. Doesn’t take a huge altering of logic to hate those who make 55k a year when you only make 30k. If you have managed to earn your way to a decent living, I think your next with these people.

 

Then you aren't very smart. Wealthy people want others to be wealthy people also, or at least middle class. The more money people have, the more they will spend on whatever made the wealthy people wealthy. It's better for everyone.

Well, better for everyone except Democrat politicians who can't get elected without someone being a victim and someone being in need of being punished.

 

It’s better to have a stack of poor people using credit cards and payday loans to buy lots of cheap Chinese made stuff than it is to have a secure well off middle class who don’t buy junk on a regular basis.

 

That was the point.

 

when the proposal is to tax wealth, someone within govt must dcide how much is too much, and at what point we punish those who reach that level of having what govt deems to be too much money

That is EXACTLY what this proposal is and should make every true American rise in unison and say enough is enough and this is against who we are as a nation.

Or, maybe we've moved so far to the left that we are more a statist nation than we realize

 

'Pocahontas' Warren can blow around about 'taxing the rich'... after all, it makes good 'political theater' for her little friends.

FACT: because of the stinking, rotten, totally-corrupted U. S. Tax Code, the über-wealthy in the United States will NEVER pay personal income taxes in accordance with their supposed 'tax-bracket'! And they keep armies of tax lawyers and tax accountants to make certain that they never will!

If 'Pocahontas' and these other hypocritical 'limousine-liberals' in the Democrat Party wanted to do something truly beneficial, they'd demand a complete, top-to-bottom overhaul of the entire U. S. Tax Code to completely remove ALL loopholes, shelters, exclusions, exemptions, deductions, and 'carried-interest'.

But they WON'T! Why not? Because, both 'fat cat' Republicans AND 'limousine-liberal' Democrats like the Tax Code exactly the way it is, and together they laugh all the way to the bank!

. "Hey, shut up! I gotta maintain my radical 'street cred'...."

 

They can't, of course the assumption is that the market is free.

 

I'm not aware of any country on the planet that taxes wealth. If we become the first, we will find out where they go.

 

Do you think they have a choice?

 

I'm reminded of Eduardo Saverin, the co-founder of Facebook who is a billionaire. He moved himself and his money to Singapore. Perhaps that will be a popular place for other billionaires. Singapore is like to want to attract as many billionaires as possible. They value them unlike American lefties.

 

That's why they are 100% apposed to a basic consumption or flat tax as their lobbyist would eviscerate them.

 

I think it odd though not surprising that Warren evidently hasn't a clue that a wealth tax is unconstitutional.

 

What a wealth tax does is tax money that has already been taxed. Then it taxes it again, and again, and again....

 

By the way, the term is Fauxcahontas.

 

I agree. I think capital gains rates should be eliminated. Income is income.

 

Minimum wage laws that qualify people for social programs ALLOWS companies to pay people low wages.

If these programs didn't exist, and people couldn't survive on those wages they wouldn't work there.

 

We design systems that are in demand that people are wiling to pay for.

What you really want are systems paid for by some people to benefit others.

Public Healthcare, public ttransportation. Etc. If those that wanted these systems were willing to pay for it, we would have it.

You're right, it's a tough sell when the motivation for these systems is really driven by a desire for freebies or subsidizing.

 

Are these people that you are advocating for not living in the same country with the same opportunity and benefits?

 

Yes. If their wealth comes from real estate, they pass it along to their tenants. If it is from selling goods and services, they pass it along to the consumer. Those who achieve and maintain wealth adapt to changing times and rules.

Since we are on the subject of taking more for no other reason than that they have more, using a global scale, you are in the top 1 or 2 percent. Most of the worlds population see you the same way you see the "wealthy". How much more should the government take from you?

 

You are not clarifying the relevance of your argument. This thread isn't about infrastructure either.

 

You can't just pass the cost along because you feel like it, the market must bare it. This has already been pointed out to you.

I don't want to tax people because they are wealthy but the wealthy need to pay their fair share. It should be impossible for me (~150k) to EVER pay more taxes in a year than someone like donald trump. Full stop. I know it gets complicated fast, but eliminating the loop holes and simplifying the tax code are the only ways to fix the problem.