Elizabeth Warren Goes Taxation Crazy
Thursday, April 11, 2019
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Title : Elizabeth Warren Goes Taxation Crazy
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Sen. Elizabeth Warren, D-Mass., has merely proposed an annual "wealth tax" on the richest Americans.
Note well: This is non a taxation on income. It is a taxation on the wealth rich Americans have. This is big.
The novel taxation proposal from Warren, who lately announced her bid to challenge President Donald Trump inwards 2020, would apply to Americans with to a greater extent than than $50 1000000 inwards assets.
It would move a taxation of 2% per twelvemonth on the wealth of anyone who's wealth falls betwixt $50 1000000 too $1 billion. For those with wealth over a $1 billion, the taxation would move 3%.
This is a remarkably aggressive taxation proposal because of the annual nature of the taxation too would severely reduce the wealth of those taxed inwards merely a decade. It would destroy over 2.75 trillion dollars inwards uppercase investment inwards merely 10 years, according to Warren's ain numbers. And would lay those funds into the bureaucratic authorities machine that wastes coin equally all cardinal planning coin does.
This is her twitter proclamation on the proposal:
The excogitation calls for a xl per centum “exit tax” on those higher upward the $50 1000000 threshold who
renounce their citizenship.
The economist advising her on this taxation is University of Berkeley Professor Emmanuel Saez. He is a frequent collaborator with the very confused socialist Thomas Piketty.
Saez, who believes that incomes should move made to a greater extent than equal, was paid to a greater extent than than $400,000 inwards 2016 too was inwards 2014 alongside the piece of employment past times 1% earners at Berkeley.
-RW
You are now reading the article Elizabeth Warren Goes Taxation Crazy with the link address https://inspirationsbymeforyou.blogspot.com/2019/04/elizabeth-warren-goes-taxation-crazy.html
Title : Elizabeth Warren Goes Taxation Crazy
link : Elizabeth Warren Goes Taxation Crazy
Elizabeth Warren Goes Taxation Crazy
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| Elizabeth Warren |
Note well: This is non a taxation on income. It is a taxation on the wealth rich Americans have. This is big.
The novel taxation proposal from Warren, who lately announced her bid to challenge President Donald Trump inwards 2020, would apply to Americans with to a greater extent than than $50 1000000 inwards assets.
It would move a taxation of 2% per twelvemonth on the wealth of anyone who's wealth falls betwixt $50 1000000 too $1 billion. For those with wealth over a $1 billion, the taxation would move 3%.
This is a remarkably aggressive taxation proposal because of the annual nature of the taxation too would severely reduce the wealth of those taxed inwards merely a decade. It would destroy over 2.75 trillion dollars inwards uppercase investment inwards merely 10 years, according to Warren's ain numbers. And would lay those funds into the bureaucratic authorities machine that wastes coin equally all cardinal planning coin does.
This is her twitter proclamation on the proposal:
And the wealthy shouldn't mean value they volition move able to escape past times renouncing their U.S. citizenship.The ultra-rich convey rigged our economic scheme & rigged our taxation rules. We require structural change. That’s why I’m proposing something brand-new: An annual wealth taxation on the tippy-top 0.1%. We’d larn $3 trillion inwards novel revenue to invest inwards rebuilding the middle-class. Let’s larn inwards happen. pic.twitter.com/B0ImiSTxez— Elizabeth Warren (@ewarren) January 25, 2019
The excogitation calls for a xl per centum “exit tax” on those higher upward the $50 1000000 threshold who
renounce their citizenship.
The economist advising her on this taxation is University of Berkeley Professor Emmanuel Saez. He is a frequent collaborator with the very confused socialist Thomas Piketty.
Saez, who believes that incomes should move made to a greater extent than equal, was paid to a greater extent than than $400,000 inwards 2016 too was inwards 2014 alongside the piece of employment past times 1% earners at Berkeley.
-RW
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You are now reading the article Elizabeth Warren Goes Taxation Crazy with the link address https://inspirationsbymeforyou.blogspot.com/2019/04/elizabeth-warren-goes-taxation-crazy.html