The Argument for A Wealth Tax

[martybegan]

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 argument against.

1) it's stupid
2) it would lead to massive needs for liquidation of fixed assets in some cases, which requires buyers, who would also probably be trying to liquidate assets
3) It's Unconstitutional at the Federal level.

1a. It's not stupid, it's an idea that has merit.
2a. This is stupid, adding four or more tax brackets***
will add significant revenue to allow for rebuilding are aging infrastructure and reducing the annual deficits.
2a. It is legal and not immoral as is the Ryan - Trump fraud.


***There are seven federal income tax brackets in 2018: 10%, 12%, 22%, 24%, 32%, 35% and 37%; let's add four more: 47%, 59%, 74% and 86%.

sure if you want a mass exodus of rich people from our country. They'll move to Belize or other low tax countries so we can't tax them any longer.

I doubt that. But, if they did a no bail warrant can be issued by the Federal Court System, and Congress could pass a bill taking away his/her US Citizenship, and all property left behind taking by eminent domain, and sold in lieu of his duty to pay income taxes.

Wow, that is some serious authoritarian strong arm fascism you got going there.

 

[boedicca]

A wealth tax is unconstitutional - and would destroy our economy.

But it makes virtue signaling Progs feel self-righteous, so they will plow ahead undeterred by rational considerations.

 

[martybegan]

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 argument against.

1) it's stupid
2) it would lead to massive needs for liquidation of fixed assets in some cases, which requires buyers, who would also probably be trying to liquidate assets
3) It's Unconstitutional at the Federal level.

It seems like any proposal that would help the average person is met with 'how we gonna pay for it?' That question is never asked when there are tax giveaways to the very wealthy or these wars our presidents like to get involved in.

Get better talking points, this typical prog-feed isn't worth responding to.

 

[Lesh]

Get better talking points, this typical prog-feed isn't worth responding to.

And yet here you are whining...stupid

 

[martybegan]

Get better talking points, this typical prog-feed isn't worth responding to.

And yet here you are whining...stupid

And look, we have an attempted white knight-tard to back up the prog-feed.

 

[danielpalos]

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.

it is a cost of living adjustment; it is worse now.