Elizabeth Warren's tax concept

RNG

Forum Staff
Apr 2013
39,618
27,399
La La Land North
Elizabeth Warren has come out with an alternative to AOC's tax on the rich. She is suggesting a 2% tax on all wealth over $50 mil and 3% on wealth over $1 Billion.

I like Warren's new idea more than AOC's for two reasons.

First, income is easy to avoid. Get yer gelt via dividends, company benefits, spread it around all your family members, the dog and the gerbils.

Second, 70% sounds scary, 2% or even 3% doesn't.

I like it lots.

Elizabeth Warren weighing a "wealth tax" on Americans with more than $50 million
 
Jun 2013
5,707
1,735
Katmandu
Elizabeth Warren has come out with an alternative to AOC's tax on the rich. She is suggesting a 2% tax on all wealth over $50 mil and 3% on wealth over $1 Billion.

I like Warren's new idea more than AOC's for two reasons.

First, income is easy to avoid. Get yer gelt via dividends, company benefits, spread it around all your family members, the dog and the gerbils.

Second, 70% sounds scary, 2% or even 3% doesn't.

I like it lots.

Elizabeth Warren weighing a "wealth tax" on Americans with more than $50 million
I'm anxious to see what Warren Buffet has to say about that, he is always complaining he isn't taxed enough and this would hit him for about $1.6 billion annually.
 
Dec 2013
33,811
19,362
Beware of watermelons
Elizabeth Warren has come out with an alternative to AOC's tax on the rich. She is suggesting a 2% tax on all wealth over $50 mil and 3% on wealth over $1 Billion.

I like Warren's new idea more than AOC's for two reasons.

First, income is easy to avoid. Get yer gelt via dividends, company benefits, spread it around all your family members, the dog and the gerbils.

Second, 70% sounds scary, 2% or even 3% doesn't.

I like it lots.

Elizabeth Warren weighing a "wealth tax" on Americans with more than $50 million

How would this tax scheme effect you personally up in Canada?
 
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RNG

Forum Staff
Apr 2013
39,618
27,399
La La Land North
How would this tax scheme effect you personally up in Canada?
It wouldn't. But there are already many differences in that our rich can't legally hide income and loopholes are almost nonexistent. We have a capital gains tax. And mortgage payments are not deductible.

There are a fair number of people in the over $50 million range and up that it would affect.
 
Jun 2012
41,958
15,181
Barsoom
It seems that Canadians know less about how the US government works than Warren.