The Argument for A Wealth Tax

[McRocket]

Interesting idea. It would end a lot of debt and funding issues

Consider

US wealth inequality - top 0.1% worth as much as the bottom 90%

The top 1/10 of one per cent own almost 25% of the nation's wealth

That's the same amount of wealth as the bottom NINETY PER CENT of the county

In that light a 2% wealth tax isn't that outrageous

I haven't checked the numbers but I have read that it could provide 30 trillion dollars over 10 years.


Health care

Education

Green New Deal

Where are you getting that number?

Her own people have said - at most - $275 billion per year.

'It's an important debate, because Warren's counting on her tax to raise a lot of money for social programs: $2.75 trillion over 10 years, according to an estimate by Emmanuel Saez and Gabriel Zucman, two economists advising her campaign.'

Elizabeth Warren's plan to tax the super-rich has been tried before. Here's what happened.

And I strongly doubt it would be anywhere near that.

If you tax rich people 40% (in essence) of their wealth over 20 years (2% X 20 years) - they will leave the country before you can. Or, at least move their assets offshore. Guaranteed.


The tax is unfair (a fair tax is taxing everyone the same), will do little to help the budget and is clearly little more than a way for her to get votes from an 'anger tax'.

 

[ThunderKiss1965]

Interesting idea. It would end a lot of debt and funding issues

Consider

US wealth inequality - top 0.1% worth as much as the bottom 90%

The top 1/10 of one per cent own almost 25% of the nation's wealth

That's the same amount of wealth as the bottom NINETY PER CENT of the county

In that light a 2% wealth tax isn't that outrageous

I haven't checked the numbers but I have read that it could provide 30 trillion dollars over 10 years.


Health care

Education

Green New Deal

There is no sane argument for wealth confiscation and a green economy has been a massive failure where ever it has been tried.

 

[MAGAman]

we can Never compete with the less developed world on Cheap Labor.

we have to merely Use capitalism to raise their Standard of living to increase their costs to parity.

Raise who's standard of living?

lol. Capitalism is supposed to raise standards of living not decrease standards of living.

Yea, what a surprise, you felt my previous comment was funny. Get back in that welfare line.

why should i take You seriously about economics?

To be honest, I could care less if you take me seriously. Get back in that welfare line.[

You sure do get triggered easily.

 

[MAGAman]

Interesting idea. It would end a lot of debt and funding issues

Consider

US wealth inequality - top 0.1% worth as much as the bottom 90%

The top 1/10 of one per cent own almost 25% of the nation's wealth

That's the same amount of wealth as the bottom NINETY PER CENT of the county

In that light a 2% wealth tax isn't that outrageous

I haven't checked the numbers but I have read that it could provide 30 trillion dollars over 10 years.


Health care

Education

Green New Deal

There is no sane argument for wealth confiscation and a green economy has been a massive failure where ever it has been tried.

You act as if the people proposing it actually expected it to work.

Like Obamacare, it's designed to fail.

 

[MAGAman]

Interesting idea. It would end a lot of debt and funding issues

Consider

US wealth inequality - top 0.1% worth as much as the bottom 90%

The top 1/10 of one per cent own almost 25% of the nation's wealth

That's the same amount of wealth as the bottom NINETY PER CENT of the county

In that light a 2% wealth tax isn't that outrageous

I haven't checked the numbers but I have read that it could provide 30 trillion dollars over 10 years.


Health care

Education

Green New Deal

The intelligent and mature thing to do is to immolate the Rich instead of looting the Rich

You forgot one thing.

Your suggestion requires work.

 

[danielpalos]

raising the minimum wage is more effective.

 

[MAGAman]

Capitalism; What is That, Sayeth the Right Wing.

Capitalism is how free people conduct commerce.

 

[MAGAman]

raising the minimum wage is more effective.

No it isn't.

Government dictates are not better than freedom based incentives.

 

[easyt65]

"The Argument for A Wealth Tax"

Divisive Class Warfare.

Period.

 

[Thinker101]

Raise who's standard of living?

lol. Capitalism is supposed to raise standards of living not decrease standards of living.

Yea, what a surprise, you felt my previous comment was funny. Get back in that welfare line.

why should i take You seriously about economics?

To be honest, I could care less if you take me seriously. Get back in that welfare line.[

You sure do get triggered easily.

Only with people that have zero common sense.

 

[danielpalos]

raising the minimum wage is more effective.

No it isn't.

Government dictates are not better than freedom based incentives.

trade wars and walls are Government dictates.

 

[georgephillip]

Wealth tax - Wikipedia

"In 1999, Donald Trump proposed for the United States a one off 14.25% wealth tax on the net worth of individuals and trusts worth $10 million or more.

"Trump claimed that this would generate $5.7 trillion in new taxes, which could be used to eliminate the national debt.[19]

"A net wealth tax may also be designed to be revenue neutral if it is used to broaden the tax base, stabilize the economy, and reduce individual income and other taxes."

New York Tax Department Reviewing Trump Tax Fraud Allegations

 

[Toddsterpatriot]

Wealth tax - Wikipedia

"In 1999, Donald Trump proposed for the United States a one off 14.25% wealth tax on the net worth of individuals and trusts worth $10 million or more.

"Trump claimed that this would generate $5.7 trillion in new taxes, which could be used to eliminate the national debt.[19]

"A net wealth tax may also be designed to be revenue neutral if it is used to broaden the tax base, stabilize the economy, and reduce individual income and other taxes."

New York Tax Department Reviewing Trump Tax Fraud Allegations

A wealth tax is a stupid idea, no matter who proposed it.
No matter when they proposed it.

 

[georgephillip]

Wealth tax - Wikipedia

"In 1999, Donald Trump proposed for the United States a one off 14.25% wealth tax on the net worth of individuals and trusts worth $10 million or more.

"Trump claimed that this would generate $5.7 trillion in new taxes, which could be used to eliminate the national debt.[19]

"A net wealth tax may also be designed to be revenue neutral if it is used to broaden the tax base, stabilize the economy, and reduce individual income and other taxes."

New York Tax Department Reviewing Trump Tax Fraud Allegations

A wealth tax is a stupid idea, no matter who proposed it.
No matter when they proposed it.

A wealth tax is a stupid idea, no matter who proposed it.
No matter when they proposed it

Sign the Petition

"National governments cannot pay their debts, a billion people are living in poverty worldwide, and urgent warnings about climate change are being ignored.

"In all three cases, the main problem is money. But the money is available - in abundance.

"Economic globalization and technological developments are making the rich megarich. Worldwide, there are now over a thousand US$-billionaires...."

Pay your fair share, Kulaks!

 

[Toddsterpatriot]

Wealth tax - Wikipedia

"In 1999, Donald Trump proposed for the United States a one off 14.25% wealth tax on the net worth of individuals and trusts worth $10 million or more.

"Trump claimed that this would generate $5.7 trillion in new taxes, which could be used to eliminate the national debt.[19]

"A net wealth tax may also be designed to be revenue neutral if it is used to broaden the tax base, stabilize the economy, and reduce individual income and other taxes."

New York Tax Department Reviewing Trump Tax Fraud Allegations

A wealth tax is a stupid idea, no matter who proposed it.
No matter when they proposed it.

A wealth tax is a stupid idea, no matter who proposed it.
No matter when they proposed it

Sign the Petition

"National governments cannot pay their debts, a billion people are living in poverty worldwide, and urgent warnings about climate change are being ignored.

"In all three cases, the main problem is money. But the money is available - in abundance.

"Economic globalization and technological developments are making the rich megarich. Worldwide, there are now over a thousand US$-billionaires...."

Pay your fair share, Kulaks!

Screw you, comrade.

 

[danielpalos]

let's raise the minimum wage to raise tax revenue.

 

[georgephillip]

let's raise the minimum wage to raise tax revenue.

A full time worker earning $15 an hour might gross $30,000 a year; billionaires earn $500,000 an hour, so I think Howard and Mike should take the first BIG hit.

"FEBRUARY 4, 2019
Medicare-for-All is Not a Fantasy
by DEAN BAKER

"In recent weeks several prominent Democrats have renewed the call for 'Medicare for All' that Sen. Bernie Sanders highlighted in his 2016 campaign for the Democratic presidential nomination.

"This has drawn pushback from billionaires and potential presidential candidates Howard Schultz and Michael Bloomberg, who insist the country can’t afford it.

"Since it’s likely to be a major issue in the presidential campaign, it is worth looking at the question more closely...."

 

[danielpalos]

Gravity Payments still supports a thirty-five dollar an hour wage.

Raising the minimum wage is merely a cost of living adjustment.

 

[georgephillip]

Gravity Payments still supports a thirty-five dollar an hour wage.

Raising the minimum wage is merely a cost of living adjustment.

Gravity Payments - Wikipedia

"Gravity Payments is a credit-card processing and financial services company. The company was founded in February, 2004 by brothers Lucas and Dan Price.

"The company is headquartered in the Ballard neighborhood of Seattle, Washingtonand employs over 100 people.

"The company received media attention in 2015 when CEO Dan Price announced that all employees would receive a minimum wage of $70,000.[1]"

 

[martybegan]

Where does the constitution allow for a wealth/property tax that does not have to be apportioned between the States?

The 16th Amendment, read it.

Your biases create gaps in you ability to comprehend writing which attacks your beliefs.

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.

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

That allows an income tax. That does not allow a property or wealth tax at the federal level without it being apportioned among the States.

Maybe you should be the one needing reading comprehension help.

You misrepresented, or I did, the term wealth tax. I inferred that was income from any source. I did not mean the assessment of all property, real estate and other valuables.

I misrepresented nothing. the whole thread was about wealth taxes, of which property taxes are a form of. The proposed wealth tax is just that, a tax on all holdings.

And that is not covered by the 16th amendment.

raising the minimum wage to raise tax revenue is more beneficial than simply taxing the one percent more.

That makes everything more expensive, and lowers buying power.