healthmyths
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- Sep 19, 2011
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Her wealth taxâa two percent tax on household net worth above $50 million and three percent tax on household net worth above $1 billionâcould raise a substantial amount of revenue. Emmanuel Saez and Gabriel Zucman, economists at the University of California, Berkeley, estimate that Sen. Warrenâs wealth tax would raise $212 billion in 2019, and add up to $2.75 trillion over ten years. This estimate has been criticized, most notably by Lawrence Summers of Harvard University and Natasha Sarin of the University of Pennsylvania. Their optimistic estimate of Sen. Warrenâs wealth tax is just $75 billion in the first year, roughly 35 percent of the Saez and Zucman estimate. Summers and Sarin assume that a wealth tax will be subject to similar avoidance maneuvers as the current estate tax, while Saez and Zucman assume a 15 percent avoidance rate.
Hereâs how many people make more than $50 million per year â in wages
Proof?
The presidential candidate estimates it would apply only to 75,000 of the richest families and would raise $275 billion a year.
Most millionaires support a tax on wealth above $50 million, CNBC survey says
FACT: from:
The presidential candidate estimates it would apply only to 75,000 of the richest families and would raise $275 billion a year.
Most millionaires support a tax on wealth above $50 million, CNBC survey says
So if each of the 75,000 richest families averaged $50 million that is $3.750 Trillion in assets.
2% of that is $75 billion. NOT $275 Billion!
Also âA wealth tax, on the other hand, is much harder to enforce,â Pomerleau said. âFor one, much of the wealth tax base doesnât have a market price. For example, we donât really know how much a particular privately-held business is worth because equity (stocks) in that company are not regularly traded on the open market.â
Facts on Warren's Wealth Tax Plan - FactCheck.org
Does the idiot Warren understand the concept that while an asset might have value, now I'm going to shout! It may not generate revenue!
The total assets of the USA is $269 Trillion BUT..
The primary residence represented 62% of the median homeownerâs total assets and 42% of the median home ownerâs wealth. The primary residence is also a widely held asset. A greater share of households (67%) owned a primary residence than held a retirement account (50%) or stocks and bonds (16%).
Financial position of the United States - Wikipedia
So Pochontas... will these people be forced to sell their properties to pay the annual tax?
Or should they sell their vast stock holdings BUT to WhOM!
Hereâs how many people make more than $50 million per year â in wages
Proof?
The presidential candidate estimates it would apply only to 75,000 of the richest families and would raise $275 billion a year.
Most millionaires support a tax on wealth above $50 million, CNBC survey says
FACT: from:
The presidential candidate estimates it would apply only to 75,000 of the richest families and would raise $275 billion a year.
Most millionaires support a tax on wealth above $50 million, CNBC survey says
So if each of the 75,000 richest families averaged $50 million that is $3.750 Trillion in assets.
2% of that is $75 billion. NOT $275 Billion!
Also âA wealth tax, on the other hand, is much harder to enforce,â Pomerleau said. âFor one, much of the wealth tax base doesnât have a market price. For example, we donât really know how much a particular privately-held business is worth because equity (stocks) in that company are not regularly traded on the open market.â
Facts on Warren's Wealth Tax Plan - FactCheck.org
Does the idiot Warren understand the concept that while an asset might have value, now I'm going to shout! It may not generate revenue!
The total assets of the USA is $269 Trillion BUT..
The primary residence represented 62% of the median homeownerâs total assets and 42% of the median home ownerâs wealth. The primary residence is also a widely held asset. A greater share of households (67%) owned a primary residence than held a retirement account (50%) or stocks and bonds (16%).
Financial position of the United States - Wikipedia
So Pochontas... will these people be forced to sell their properties to pay the annual tax?
Or should they sell their vast stock holdings BUT to WhOM!