As long as we consider the issue of poverty and wealth inequality as a purely financial the problem will never be solved. Just handing out money won't solve anything
need more details corp will then pass along this added cost to the consumers. this has the effect of burdening young families w children w extreme economic hardship, in particular, in the minority communities. not only is a VAT inflationary, back market activities would also skyrocket.
Tilly sweating bullets. I wonder if the people he knows that have received stimulus checks are cheating the system??? Lol
As it currently stands, isn't a wealth tax unconstitutional? And what if a person's wealth were in assets like land, art, or antiquities? How would a wealth tax then be implemented? Through a forced sale?
Added revenue would be easier to provide more social services for those families, but America as we know it would definitely change...
"The World Added 412 Billionaires in 2020, Bringing the Total to 3,288": https://www.barrons.com/articles/th...-2020-bringing-the-total-to-3-288-01614719531 excerpt: Beijing had the largest number of billionaires, with 145; Shanghai (113) overtook New York (112) as the runner-up. Six of the top 10 cities with the highest concentration of billionaires were in China . . . . more at the link
Wait, this has been thought out by Elizabeth Warren at least. Whether you agree with it or not is another issue, but don't say "never thought out" when that's a damn lie. https://elizabethwarren.com/plans/ultra-millionaire-tax
Besides Constitutionality issues, has anyone thought maybe we should address the problem of WHY the wealthy generate all the wealth instead of just having them to continue to make it all and then try to take it back on the backend? Seems like that would be both a better and more sustainable solution than this nonsense. Just start taxing capital income at a higher rate than labor income. It will largely solve the whole wealth distribution problem. We tax capital at way lower rates, so of course capital is what generates the most new money.
The **** it won't Handing out money has worked wonders for Companies in America. Look at the stock market.
Frankly, that doesn't look like it's well thought out. Those are all general talking points, but remember, the devil is in the details.
Come on now, this is a lot more detail than your typical, "I will tax the wealthy 4%!!!". Granted, you can't write into law based on what was written, but she even had a letter from University of California that conducted a brief study on her proposal. Definitely needs more thought, but we aren't starting from 0.
Did you read it? It's vague. If she had said "I will tax the wealthy 4%!!!", I'd have the same exact questions I do now (after reading her write-up). Given that federal wealth taxes are unconstitutional (especially with this Supreme Court), I'd say we ARE starting at 0.
Workers lost $3.7 trillion in earnings during the pandemic. Women and Gen Z saw the biggest losses. Billionaires made $3.9 trillion during the pandemic — enough to pay for everyone's vaccine
It really hasn't. There is a reason why billionaires are billionaires and Elizabeth Warren is just a politician. Half of Musks Tesla shares are collateral to SpaceX. I know im grossly misusing this analogy, but its impractical to treat an individuals m2 as m1. In other words, Warren wants to tax 2% on Musks highly over valued stocks. Everyones wealth is calculated differently and to come up with a one size tax all is not thought out at all. I completely agree with Major. Why continue to let the Warren Buffets of the world only pay 15% capital gains when they offer nothing to society. Capital gains can be taxed up to 50-60% if not more for those who have hundreds of millions.
