Tax the rich….
Give to the poor (And everybody else)…..
His….”Tax on Extreme Wealth” would kick in at earnings of $32 million….
Elizabeth Warren also has a wealth tax plan to kick in at $50 million…
Both idea’s are dead on arrival if Republicans still hold a majority in the US Senate….
University of California, Berkeley economists Emmanual Saez and Gabriel Zucman said in a letter that they estimate that Sanders’ proposed wealth tax would raise $4.35 trillion over a decade and would “fully eliminate the gap between wealth growth for billionaires and wealth growth for the middle class.”
Sanders proposes using the revenue raised from his wealth tax to pay for his affordable-housing plan and universal child care, as well as to help fund “Medicare for All.”
…
Warren and Sanders have been battling for progressive voters and attention as they contend with Biden for the Democratic presidential nomination. A wealth tax has been one of Warren’s signature proposals, with her supporters cheering it at rallies by chanting “two cents.” She has touted it as a way to pay for her other plans….
image..thehill.com
The biggest problem with a wealth tax is that it is difficult to administer. How do we know if someone has a Rembrandt in their home or some money stored away in a Swiss bank account?
Other than that major flaw, a wealth tax makes a lot of sense to me. Without a wealth tax, rich people would never have to work in their lives, nor would their great, great, great, grandchildren (provided of course that all were reasonable judicious with how they spent and invested the money.
I agree with a wealth tax which was around during the Reagan years I believe…
My point HERE is it has no chance if GOPer’s have ANY say ….
Any significant legislation proposed by a Democrat has “no chance if GOPers have any say.”
Thank you Capt. Obvious.
I think that the estate tax (like workers’ health insurance) was first proposed by that red radical firebrand, Theodore Roosevelt.