on CNBC she believes the money brought in by the wealth tax could be "transformative" for the U.S., allowing for investments in early childhood education and infrastructure. She also said the coronavirus pandemic has widened wealth inequality, adding saliency to the wealth-tax proposal.
"It's set up now to say we're not going to collect taxes on any asset worth less than $50,000, so this is not intrusive. It's not about coming into people's homes and valuing their Sub Zeros or figuring out what their 4-year-old cars are worth," Warren said. "But it says if you've got a fortune above $50 million, you pay on it. And if your fortune is below $50 million, you don't. Good for you, either way," she added. "I think most people would rather be rich and pay 2 cents. This is not very fancy. It really is a tax on fortunes above $50 million."CNBC's Robert Frank ran the numbers earlier Wednesday, looking at how $100,000 in a bond yielding 3% would be treated under Warren's wealth tax.
"For safe investments like bonds or bank deposits, a wealth tax of 2% or 3% may confiscate all interest earnings, leaving no increase in savings over time," the Tax Foundation also
Which one is the tax welfare and giveaways to billionaires, CEOs, and corporations.? Corporatism.? Because that one is no good. Which one is in Canada because that one seems more equitable.?
Which one is the tax welfare and giveaways to billionaires, CEOs, and corporations.? Corporatism.? Because that one is no good. Which one is in Canada because that one seems ok.?
😂 You can have a society without both. When the capitalist take over government bridges collapse, schools fail and healthcare is unattainable for the average person.
We better stay a capitalist nation or all the capitalists will move out. The ultra millionaire tax is a joke and ewarren war on the wealthy needs to stop. This is America and ewarren is trying to cancel the American dream. Vote her out!
Or a nation ruled by Naked Short Sellers..... $GME
Free enterprise exchange or free commodity order
Sorry Leon but think the die is cast and we r watching a slow motion train wreck hit it!
Capitalism involves price discovery. The Fed has removed ALL price discovery. So I guess we are a socialist nation.
I guess if the billionaire ranks within the US would stop trying to find every magical way possible to avoid paying even one penny in taxes then I would give a fuck. However when an average income family pays more taxes annually than Bezos, something is extremely wrong.
Then why so many poor people? Why the crumbling infrastructure? Why so many people without healthcare? Billionaires always say they have heart, but if they wanted to they could make all these problems go away. Don’t believe the greedy bastard.
Why are we listening to these old white men with an agenda that is only concerned with the elites of this country. We are tired of your opinion.
The sad thing is most Republicans that oppose taxing the rich are themselves not rich. In fact they’re lower to middle income. They also oppose national healthcare but they themselves can’t afford health insurance. Ignorance. RepPfluger
You no doubt make tax deductible donations which further reduce your taxes. How much of that actually goes to benefit the less fortunate versus wealthy causes like art museums? That benevolent philanthropist stuff is a bunch of crap
Too Many Reps would have us be a Fascist-Run Nation!
This poor guy.
I think 🤔 y’all forgot the third option. What do you call it when the rich own the government, And the laws & tax codes are written for their benefit. Especially with billionaires & corporations don’t pay their fair share: percentage wise. And in some cases dollar for dollar 💵
Why do you have to lean one way. Why can't you find common ground?
Or realize we are a hybrid and have been for a very long time.
Taxing the poor and middle class = capitalism. Taxing the rich = socialism. Got it
When you pay your federal taxes they don't go to our own government. They go to a private bank we call the Federal reserve, owned by anonymous shareholders across the entire banking spectrum. Money is a control construct. Most of the world is enslaved to these shareholders.
We are a socialist Nation ! It's your money and we want it now ! No seriously, we need your money !
16% FLAT tax for every single American = Steve Forbes ! Regardless income level,,,, fair & Square ! Why middle class families HAVE to carry majority of the Fed budget burden ?!!
wow
we meet all ten of the planks of communism listed by Marx & Engels in the communist manifesto, so I think there's his answer.
corn futures cascade crash to 0 in seconds
corn futures cascade crash to 0
We're definitely Capitalist, can you tell how big the income & inequality gap gets. How so few own everything, while the rest are exploited so the Capitalist can own 20 properties, 6 cars, and 2 Yatch's and still want more.
I guess if the billionaire ranks within the US would stop trying to find every magical way possible to avoid paying even one penny in taxes then I would give a fuck. However when an average income family pays more taxes annually than Bezos, something is extremely wrong.
Always black and white....when will we ever live in the grey? 🤦🏻♂️
Government’s role should be to ensure capitalism works. Rules should be placed when the self-correcting rails aren’t working (like min wage) and capitalism should be removed from sectors that it simply can’t work in (like healthcare).
Why’d he have to bring up that Thomas Sowell is black? F.A. Hayek a white economist. John Maynard Keynes a white economist. See you don’t hear that, so why do you have to say Thomas Sowell a black economist?
Lol
Does Biden suck when it comes to financial well being in this country? Inquiring minds want to know.
Can be both!
I'll stay with the capitalist.
And maybe Jehovah's witnesses in Sulphur La and there was mentioned Ohio ones possibly being kidnapped
Lots of slaughtering noises were going on in Sulphur La. And the poor little boy was saying that Peter Purdue and Nelson Seth remireze David name their children my children's name and wear slaughtering them with sadism. For me to hear and at the police station where it was hosed
Capitalist country
The socialist card....
Billionaires are so rich they don’t earn income like the rest of us.
What a ridiculous statement by an overprivileged billionaire. The pvt sector creates wealth, and the public sector distributes taxes on that wealth, according to the needs of society.
Leon is absolutely right; but most of the ultra wealthy don’t grow their wealth in a way that income tax would (materially) impact.
And if we are a nation ruled by Naked Short Sellers..... $GME
Labels are the problem. We keep trying to define and create. Except, we still haven’t taken an honest view as to what we are, already. Now. Today. There’s no unity of purpose or common thread of interest. socialism/capitalism arrg
Does anyone actually buy this talking point? How are taxes anti-capitalist?
I might believe him when he stops being a billionaire.
Fuck this guy
They had their 🎂 and are it too, while we look for a plate, its time to pay your fair share, america gave you the environment, market and freedom to become more wealthy than you could in any other nation...
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