70 percent marginal tax rate

[NeoGreenLantern]

https://www-cnbc-com.cdn.ampproject.org/v/s/www.cnbc.com/amp/2019/01/24/elizabeth-warren-to-propose-new-wealth-tax-economic-advisor.html?amp_js_v=a2&amp_gsa=1&usqp=mq331AQCCAE%3D#referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.cnbc.com%2F2019%2F01%2F24%2Felizabeth-warren-to-propose-new-wealth-tax-economic-advisor.html

So here is Warren's tax plan. It's a tax on wealth instead of income.

To put it in perspective, if it was implemented it would have cost Jeff Bezos 4 billion of his 24 billion

Poor Bezos getting screwed.

[Not BAMF]

https://www-cnbc-com.cdn.ampproject.org/v/s/www.cnbc.com/amp/2019/01/24/elizabeth-warren-to-propose-new-wealth-tax-economic-advisor.html?amp_js_v=a2&amp_gsa=1&usqp=mq331AQCCAE%3D#referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.cnbc.com%2F2019%2F01%2F24%2Felizabeth-warren-to-propose-new-wealth-tax-economic-advisor.html

So here is Warren's tax plan. It's a tax on wealth instead of income.

To put it in perspective, if it was implemented it would have cost Jeff Bezos 4 billion of his 24 billion

Poor Bezos getting screwed.

He'll probably just shut down Amazon and get a job at Burger King because it's not worth having only $20B. Innovation, RUINED!

[Uhtceare]

 utopian socialist programs

Yeah, those Scandinavians, such utopians. It's become quite obvious that Ayn Randites are the utopians. The whole thing relies on the first winners of the business race not doing everything in their power to shut the door behind them.

[MTL76]

I agree that Ayn Rand purists are as disconnected from reality as any Communist. Atlas Shrugges and The Fountainhead are good for a laugh though.

[therock]

wouldnt go for 70 percent

But note again it not only just target people who make 10 million it doesnt tax the whole 10 million at that rate. Its after the the money after the 10 million and there still write off. So don't see it hurting up and comers that much because you will still be rich end of the day. That Said you dont have to be a greedy person to thinkl 70 percent is to much. That is pretty damm high. I mean being rich it of itself is not bad. Can see someone who rich thinking..".really 70 percent" without thinking there an asshole


But do like that number being put out. The reason is the right tends to win by swinging the conversation so far to the right..that it makes meeting them half way pretty far right. This way maybe it makes the middle ground maybe taking the tax rate post bush

Before people affraid saying those thing would be to unpopular. But it actully is kind of popular. Now not saying that alone should make you make it 70 percent. Because part of the reason it popular is people saying "Im not rich so fuck em" But that not a good economic argumet

but dont think the idea of just keep giving them tax breaks good economics either.  And no amount of taxes seem low enough.

[Snake-eyes]

70% is fine, it just needs to start at 500,000 instead of 10 million.

[MTL76]

Or the government could spend less.

[Imperial]

Or the government could spend less.

That need not be an " Either/Or" choice. They could, and probably should, do both. At least when it comes to special interest spending. Things like corporate welfare, neverending wars, sweetheart over-budget projects, etc.

The coming challenges of climate change added to the nation's aging neglected infrastructure is going to require significant upfront investment. Even though doing so, besides being necessary, should be fiscally positive longterm.

[Clownprince23]

I'm not terribly familiar with tax code, but don't some businesses file taxes as personal income