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GetAClue 02-01-2019 07:55 AM

Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
This next election doesn't have democrats just moving left, they are racing towards flat out Communism. Warren doesn't just want to increase income taxes on the rich, she wants to flat out begin confiscation of part of their wealth for the sin of being wealthy.


Quote:

WASHINGTON — Senator Elizabeth Warren of Massachusetts, a Democratic candidate for president, is expected to unveil a plan that would impose a new annual tax on the 75,000 wealthiest families in the United States.

Her plan is the latest sign of how Democrats, with an eye toward 2020, are looking to tax the rich to pay for expanded social programs and distribute wealth more evenly. In recent weeks other Democrats have called for increasing marginal income tax rates for the very rich, including Representative Alexandria Ocasio-Cortez, the freshman from New York who has proposed a 70 percent top rate on income exceeding $10 million a year.

Ms. Warren’s so-called ultramillionaire tax would levy a 2 percent annual tax on all assets — including stocks, real estate and retirement funds, held either in the United States or abroad — owned by households with a net worth of $50 million or more. It would add an additional 1 percent “billionaire surtax” on households with net worth exceeding $1 billion, a group that includes President Trump.

No assets would be exempt. The plan also calls for increased spending at the Internal Revenue Service to ensure that Americans are not evading the tax. And it would impose an “exit tax” on those seeking to avoid the wealth tax by renouncing their American citizenship.

The proposal would raise $2.75 trillion in tax revenue over a decade, according to calculations by Emmanuel Saez and Gabriel Zucman, two University of California-Berkeley economists whose work documents the growing concentration of wealth in the United States. Ms. Warren and her team consulted with Mr. Saez and Mr. Zucman in drafting the proposal, which seeks to establish a new measure of “progressivity” in taxation, based on what Americans own, not just what they earn.

“It’s time to fundamentally transform our tax code so that we tax the wealth of the ultrarich, not just their income,” Ms. Warren said on Thursday. “By asking our top 75,000 households to pay their fair share, my proposal will help address runaway wealth concentration and at the same time accelerate badly needed investments in rebuilding our middle class.”
Read the rest here https://www.nytimes.com/2019/01/24/u...democrats.html

Constant_Slothrop 02-01-2019 08:13 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
Quote:

Originally Posted by GetAClue (Post 960788)
This next election doesn't have democrats just moving left, they are racing towards flat out Communism. Warren doesn't just want to increase income taxes on the rich, she wants to flat out begin confiscation of part of their wealth for the sin of being wealthy.




Read the rest here https://www.nytimes.com/2019/01/24/u...democrats.html

The efforts to demonize everything you dislike as "communism" makes you look like a fool. We already tax assets and have for years.

GetAClue 02-01-2019 08:47 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
Quote:

Originally Posted by Constant_Slothrop (Post 960790)
The efforts to demonize everything you dislike as "communism" makes you look like a fool. We already tax assets and have for years.

The willingness to discount the intentions clearly stated by a Democratic candidate for President of the United States, show complete and utter denial of the actual goals of the left in this country. If this isn't the early stages not of Socialism, but Communism, then please feel free to educate me as to which brand of government does this represent? Fascism might be an alternate theory, but Communism is the only form of government that I know have that advocates for such actions.

AZRWinger 02-01-2019 08:48 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
Quote:

Originally Posted by Constant_Slothrop (Post 960790)
The efforts to demonize everything you dislike as "communism" makes you look like a fool. We already tax assets and have for years.

State and local governments have property taxes of some kind but the Federal government does not. Of course the new taxes would require disclosure of all assets to Federal IRS bureaucrats. Remember that the IRS is above politics, just ask Lois Lerner. ;)

With a net worth of $14 -$20 million Senator Warren conveniently excludes her wealthy family from the punitive taxation she proposes. To the poor and middle class she is extremely wealthy but don't expect her to pay her so-called fair share. ;)

Warren's tax plan is classic socialist vote buying financed by looting other people's bank accounts. You can bet that if her Native American scam had paid better she'd raise the line for her proposed taxes. ;)

GetAClue 02-01-2019 08:52 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
Quote:

Originally Posted by AZRWinger (Post 960794)
State and local governments have property taxes of some kind but the Federal government does not. Of course the new taxes would require disclosure of all assets to Federal IRS bureaucrats. Remember that the IRS is above politics, just ask Lois Lerner. ;)

With a net worth of $14 -$20 million Senator Warren conveniently excludes her wealthy family from the punitive taxation she proposes. To the poor and middle class she is extremely wealthy but don't expect her to pay her so-called fair share. ;)

Warren's tax plan is classic socialist vote buying financed by looting other people's bank accounts. You can bet that if her Native American scam had paid better she'd raise the line for her proposed taxes. ;)

While I am not a big fan of state and local property taxes, I can live with paying them in support of my local school system and township duties. However, that is only taxes on real estate, not what a person may have in bank accounts or other assets.

The tax that Mrs. Warren is proposing, delves into every aspect of your life, both domestic and foreign, looking for wealth that the government can look to confiscate. This is flat out Communism. They will tax the wealthy until there are no more wealthy.

ShivaTD 02-01-2019 09:02 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
Quote:

Originally Posted by Constant_Slothrop (Post 960790)
The efforts to demonize everything you dislike as "communism" makes you look like a fool. We already tax assets and have for years.

Please provide some details related to federal taxation of assets. At the state level we could cite the property tax as being an asset tax but the federal government doesn't impose property taxes.

Warren's proposal seems to fail on Constitutional grounds.

I agree that invoking "communism" or "socialism" into every argument does make people look like ignorant fools.

GetAClue 02-01-2019 09:08 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
Quote:

Originally Posted by ShivaTD (Post 960799)
Please provide some details related to federal taxation of assets. At the state level we could cite the property tax as being an asset tax but the federal government doesn't impose property taxes.

Warren's proposal seems to fail on Constitutional grounds.

I agree that invoking "communism" or "socialism" into every argument does make people look like ignorant fools.

And if I did that, you may have a point. However, when I see policy proposals that mirror Communist or Socialist policies, it is appropriate to point them out. If you know of any other form of government that as a policy, confiscates money from those simply because they are rich, please educate me about that system of government.

Constant_Slothrop 02-01-2019 10:29 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
Quote:

Originally Posted by ShivaTD (Post 960799)
Please provide some details related to federal taxation of assets. At the state level we could cite the property tax as being an asset tax but the federal government doesn't impose property taxes.

Warren's proposal seems to fail on Constitutional grounds.

I agree that invoking "communism" or "socialism" into every argument does make people look like ignorant fools.

I never said that the federal government taxes assets (states and local governments do), and I agree that there are constitutional issues associated with this proposal. My argument was the same one you raised, namely that taxation is not communism under any definition of the term.

Dog Man 02-01-2019 10:54 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
Quote:

Originally Posted by GetAClue (Post 960801)
And if I did that, you may have a point. However, when I see policy proposals that mirror Communist or Socialist policies, it is appropriate to point them out. If you know of any other form of government that as a policy, confiscates money from those simply because they are rich, please educate me about that system of government.

Yes your are right. it is a big step toward total government control AKA: Communism/Socialism.

If this were to get implemented, they would realize that it would still not be enough, and then start going down the ladder and start taking from everyone. Once something like this is set in place, it only gets worse.

Why is it always the left that wants to constantly give government more power and money? They hate the power and money of rich citizens that cannot write laws or force anyone to do anything. But they have no problem with giving more power and money to the people that can control our lives and force us to do things we don't want to do.

Are lefties just naturally subordinate and submissive?

Dog Man 02-01-2019 11:01 AM

Re: Warren’s Plan Is Latest Push by Democrats to Raise Taxes on the Rich
 
[QUOTE=Constant_Slothrop;960804]I never said that the federal government taxes assets (states and local governments do), and I agree that there are constitutional issues associated with this proposal. My argument was the same one you raised, namely that taxation is not communism under any definition of the term.[/QUOTE]

When will you guys realize that the government already takes in far more than they need? It needs to run more like business, and stop wasting money like drunken liberal fools.


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