Elizabeth Warren proposes "Wealth Tax"

[chico25]

what are you talking about about passiviely manufactures products out of thin air?

close the loopholes then. an uncessarily and senseless tax on assets makes no sense. If you dad was rich and handed you down an family heirloom (let's say a painting) and in 30 years that painiting becomes worth $10m , you think it's fair that you get a tax on that, to the point you have to sell the painting because you can't afford the tax? How does that make sense?!?!

What if you won the lotto, you buy expensive things. YOu're not rich, you don't have a steady flow of income....you believe you should be taxed until you become poor. You cannot or should not tax because of the value of an object, it makes no freaking sense. And you know it, just call this an "envy tax", cuz it's not a fair nor progressive tax. Stop being jealous of other people and what they can afford and worry about your life. Pocahontas wanna be fair then maybe she should carve out lands for black americans like her native american brethen received...that's a fair policy.

I'm not sure why you're so interested in protecting the interests of the wealthy. They have attorneys and lobbyists they pay for that, why are you doing it for free?

Regarding your one in a million scenarios. In what world does a wealthy father leave his child a painting and no other liquid assets? And any lottery winner that buys 10 million dollars in assets but doesn't have cash coming in to pay 2% in taxes annually would end up broke regardless, like most lottery winners now. The percentage of people that would be affected by this enough to have their lifestyle changed because of it is a fraction of a fraction of a percentage of the country.

 

[FAH1223]

 

[Secure Da Bag]

:blessedrain:

 

[saturn7]

Elizabeth "Warpath" Warren

 

[Secure Da Bag]

Elizabeth "Warpath" Warren

 

[Perfectson]

What are you talking about right now? What type of "woe is my money" hysteria is this? Who in the lottery has bought 50M worth of assets? You think these lottery winners don't have their money in a bank? No interest? No stocks?

Most importantly, this only affect 75,000 people. Out of 320 million people. As you said,



Stop being fantasizing about people's property because you can't afford it and worry about your life. These people aren't hurting. They're not being unfairly treated. They're not going to lose their homes and livelihood. Stop crying about a segment you're not in, far from in. Unless you want to tell us that you have 50M in assets and may get taxed as well.

The fact it doesn't impact me , makes me the best person to speak on it. You envious people shouldn't make bias policy where only you win . Make better life decisions if you want expensive stuff

 

[Perfectson]

I'm not sure why you're so interested in protecting the interests of the wealthy. They have attorneys and lobbyists they pay for that, why are you doing it for free?

Regarding your one in a million scenarios. In what world does a wealthy father leave his child a painting and no other liquid assets? And any lottery winner that buys 10 million dollars in assets but doesn't have cash coming in to pay 2% in taxes annually would end up broke regardless, like most lottery winners now. The percentage of people that would be affected by this enough to have their lifestyle changed because of it is a fraction of a fraction of a percentage of the country.

You guys aren't making any compelling arguments other than "they shouldn't be able to buy this or they can afford it "

Please give me the common sense view of how you can purchase something and own it but get taxed on it annually . You don't own it then, it's a lease! It's ridiculous you're infringing in basic ownership because it doesn't impact you. But then turn around and want the proceeds distributed back to you? Luxury makers pay bills too, even if they market to a select few. You want rich people spending money, if you tell me you're gonna tax me 3% on my belongings, you're just telling me to move my assets elsewhere... .

 

[Secure Da Bag]

The fact it doesn't impact me , makes me the best person to speak on it. You envious people shouldn't make bias policy where only you win . Make better life decisions if you want expensive stuff

I don't benefit from these policies either. Most of us here don't. These are policies to help the poor, disenfranchised, and children. You hysterical people shouldn't make bias policy where only people that you want to be like win. Make better life decisions if you want to be truly prosperous.

 

[Perfectson]

She's 10m in the black by simply being a politician .Bloomberg at least earned his wealth in the market.

You guys can't be serious, she's creating an artificial war!!

 

[Perfectson]

I don't benefit from these policies either. Most of us here don't. These are policies to help the poor, disenfranchised, and children. You hysterical people shouldn't make bias policy where only people that you want to be like win. Make better life decisions if you want to be truly prosperous.

Bro what the heck are you talking about . You make good life decisions , get educated and take care of your family. You having money doesn't impact anyone else . Theres a safety net employed already, close the loop holes and make the tax fair and flat. It's class warfare you don't make policies in the extremes.

You said you're for the Nordic capitalist model, they don't have a progressive tax nor are they rich paying an asset tax nor are they paying significantly higher rates then middle class . You want Nordic benefits but you don't want to actual pay for it fairly! !!!

 

[Secure Da Bag]

You guys can't be serious, she's creating an artificial war!!

Well the war was created by Reagan and continue to be fought by billionaires, corporations, and their lobbyists.

 

[Secure Da Bag]

Bro what the heck are you talking about . You make good life decisions , get educated and take care of your family. You having money doesn't impact anyone else . Theres a safety net employed already, close the loop holes and make the tax fair and flat. It's class warfare you don't make policies in the extremes.

If you close the loopholes, you end up taxing the rich more than with the wealth tax. What are you whining about? Really.

You said you're for the Nordic capitalist model, they don't have a progressive tax nor are they rich paying an asset tax nor are they paying significantly higher rates then middle class . You want Nordic benefits but you don't want to actual pay for it fairly! !!!

They do have a progressive tax system. Taxation in Sweden - Wikipedia


EDIT: Nordic as in Nordic countries. Not Norway in particular. So yeah, Norway does have a flat tax.

EDIT2: You got me, breh. Good one. Norway does have a flat tax. A progressive tax. And a wealth tax as well. Tax rates Norway

Here's an example of it - Comparing Tax Rates in the U.S. and Norway

 

[FAH1223]

 

[chico25]

You guys aren't making any compelling arguments other than "they shouldn't be able to buy this or they can afford it "

Please give me the common sense view of how you can purchase something and own it but get taxed on it annually . You don't own it then, it's a lease! It's ridiculous you're infringing in basic ownership because it doesn't impact you. But then turn around and want the proceeds distributed back to you? Luxury makers pay bills too, even if they market to a select few. You want rich people spending money, if you tell me you're gonna tax me 3% on my belongings, you're just telling me to move my assets elsewhere... .

As a homeowner that's called property taxes. I and all other homeowners pay it annually. My home is the majority of my net worth and that's the same for most of the middle class. The wealthy pay property taxes on their homes and land holdings as well but that may not make up a majority of their net worth. They have large assets in form of stocks, bonds and various other forms of assets that are not taxed that make up the majority of their net worth. This law would basically have most people paying a similar percentage of their net worth in taxes.

That is the way I heard it explained that makes the most sense to me. I don't care what anyone else buys but I want certain policies to be implemented (M4A & GND) and those policies need to be paid for, according to the people that oppose them. A tax like this that has a precedent already and doesn't hurt anyone and could help a lot of people is a good way to do that.

 

[King Kreole]