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Elections Discuss Warren’s Wealth Tax Revenue May Not Meet Expectations at the Political Forums; Elizabeth Warren has been campaigning on a wealth tax proposal. What would Warren do? She’d tax net wealth (defined as ...

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Old 10-01-2019, 06:39 PM
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Default Warren’s Wealth Tax Revenue May Not Meet Expectations

Elizabeth Warren has been campaigning on a wealth tax proposal.

Quote:
What would Warren do? She’d tax net wealth (defined as assets less liabilities) in excess of $50 million at a rate of 2 percent and net wealth above $1 billion at 3 percent. She’d include nearly every type of asset in her tax base—from the money in the bank to the very expensive jewels in the vault. Publicly-traded stocks and bonds, pensions, and the value of privately held family businesses also would be taxed.
Naturally her followers are all in favor of seeing the rich punished for being successful especially if they think they would get a share of the loot in the form of an expanded ration from the welfare state. As always when the government taxes A and gives to B, B likes it. Notice that although Warren is quite wealthy her family wouldn't be paying the tax.

The unintended consequences, the requirement for the Federal government to create and maintain a comprehensive database of all private assets with valuations and the shift from an ownership society to one where assets are only rented from the government as long as the value tax is paid.

https://www.taxpolicycenter.org/taxv...t-expectations
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Old 10-02-2019, 12:02 AM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

This is beyond illegal...

"Double-taxation" is one thing, but to repeatedly tax the same assets year after year is despicable...
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Old 10-02-2019, 07:54 AM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

Once again, the left rolls out a proposal that appeals to their uneducated base that sounds good on the surface but has serious ramifications if/when put into practice. It is convenient knowing that a majority of your audience bases their political positions not on reason and logic, but on emotional reflexes to proposals that target people they perceive have it better than they do without understanding the consequences of such policies.

I don't blame the politicians or constituents, I place blame squarely on the NEA for infiltrating our schools and indoctrinating our youth with their leftist mindset instead of teaching critical thinking skills. If children had been taught to think for themselves during their formative years, the left would not have a chance to even propose such stupidity.
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Old 10-02-2019, 10:21 AM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

So Liz finds that stealing 20-30% of what you earn is insufficient to fund her free stuff for all ideas, and so is demanding 2-3% on what you already have, which will soon be 5%, is a good plan.

There is a reason that the left is comfortable with over half the population being wards of the state.
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Old 10-02-2019, 12:29 PM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

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Originally Posted by jimbo View Post
So Liz finds that stealing 20-30% of what you earn is insufficient to fund her free stuff for all ideas, and so is demanding 2-3% on what you already have, which will soon be 5%, is a good plan.

There is a reason that the left is comfortable with over half the population being wards of the state.
It plays right into their plans. The more people they can make dependent upon the government, the larger the voter base. Generally speaking, the people that view welfare as a lifestyle choice are the uneducated base needed to believe every left wing, socialist policy that is put forward.
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Old 10-02-2019, 12:41 PM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

Quote:
Originally Posted by cnredd View Post
This is beyond illegal...

"Double-taxation" is one thing, but to repeatedly tax the same assets year after year is despicable...
Business personal property taxes at least are tied to depreciation of the asset, but really is a version of the double taxation (State and locality). On personal property in NC for an individual, you best keep it to a non-motorized scooter.... https://www.mecknc.gov/AssessorsOffi...-Property.aspx
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Old 10-02-2019, 12:57 PM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

Quote:
Originally Posted by GottaGo View Post
Business personal property taxes at least are tied to depreciation of the asset, but really is a version of the double taxation (State and locality). On personal property in NC for an individual, you best keep it to a non-motorized scooter.... https://www.mecknc.gov/AssessorsOffi...-Property.aspx
The same IRS that engaged in political repression to help Obama get re elected will determine the value of your property. No doubt your political connections will influence your valuation.
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Old 10-03-2019, 12:42 PM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

I wonder if Liz will exempt rich entertainers from those extra taxes.

Or would they tax Oprah's Private custom jet? and her Yacht?

I saw on line that Paul Allens mega Yacht was up for sale, and then I got baited and hooked into looking at all the mega yachts that people own. Low and behold, the vast majority were owned by entertainers. Beyoncé, Depp, etc.. And I hope P. Diddy doesn't have to pay extra tax on his 72 million dollar yacht.

Last edited by Dog Man; 10-03-2019 at 12:48 PM..
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Old 10-03-2019, 01:49 PM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

This is the third step in the trans formation to socialism

First the government spends money it doesn't have on social programs which indenture the population to the government.
Then the government takes higher taxes to pay the deficits.
Then it begins to tax and attach the accumulated wealth of it's citizens

Proof positive that when socialism runs out of money they steal it from the people who have it. The rich then hide their money. Once that happens, and the common people's cash is gone or inflated, the system fails altogether.
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Old 10-05-2019, 12:15 AM
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Default Re: Warren’s Wealth Tax Revenue May Not Meet Expectations

Quote:
Originally Posted by AZRWinger View Post
Elizabeth Warren has been campaigning on a wealth tax proposal.



Naturally her followers are all in favor of seeing the rich punished for being successful especially if they think they would get a share of the loot in the form of an expanded ration from the welfare state. As always when the government taxes A and gives to B, B likes it. Notice that although Warren is quite wealthy her family wouldn't be paying the tax.

The unintended consequences, the requirement for the Federal government to create and maintain a comprehensive database of all private assets with valuations and the shift from an ownership society to one where assets are only rented from the government as long as the value tax is paid.

https://www.taxpolicycenter.org/taxv...t-expectations

Some sort of wealth tax is needed to run the danged country or would you build roads and bridges and fund the military with middle and poor people tax cuz that isn't enough
every successful civilization has depended on rich people for tax; every successful civilization has had at least 2 things: taxes and a good census.
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