Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool

Liz Warren’s 158% Tax Rate

November 15, 2019 By E.J. Smith - Your Survival Guy

Professor Elizabeth Warren and Assistant Director for Large Bank Supervision Steve Antonakes sign introductory letters to the CEOs of over 170 financial institutions that are subject to CFPB Supervision.

Remember, your key takeaway here is that millionaires will become the new billionaires if Warren has her way. Here’s how her tax rates reach 158%. Richard Rubin reports in the WSJ:

Potential tax rates over 100% could result from the combination of tax increases the Massachusetts senator proposes for the very top tier of investors. She wants to return the top income-tax rate to 39.6% from 37%, impose a new 14.8% tax for Social Security, add an annual tax of up to 6% on accumulated wealth and require rich investors to pay capital-gains taxes at the same rates as other income even if they don’t sell their assets.

Consider a billionaire with a $1,000 investment who earns a 6% return, or $60, received as a capital gain, dividend or interest. If all of Ms. Warren’s taxes are implemented, he could owe 58.2% of that, or $35 in federal tax. Plus, his entire investment would incur a 6% wealth tax, i.e., at least $60. The result: taxes as high as $95 on income of $60 for a combined tax rate of 158%.

The rate would vary according to the investor’s circumstances, any state taxes, the profitability of his investments and as-yet-unspecified policy details, but tax rates of over 100% on investment income would be typical, especially for billionaires.

Read more here.

Originally posted on Your Survival Guy. 

Related Posts

  • Taxes on Dividends
  • Chainsaw the Tax Code
  • The Flat Tax Answer
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

Click here to sign up for my free monthly Survive & Thrive letter.
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • What Kind of Life Are You Investing For? - January 31, 2023
  • Why Don’t These Mayors Seem to Care? - January 31, 2023
  • Warren Miller: If You Don’t Do It This Year, You’ll Be… - January 30, 2023

Dick Young’s Must Reads

  • The Problem in America
  • You Need to Seek Some Shelter for When Things Get Ugly
  • Your Survival Guy’s 2022 Super States: #1 New Hampshire
  • Your Survival Guy at Fidelity and Your RMD Compliance
  • Joel Salatin and Alfie Oakes, America’s Food Kings
  • Globalism Has Made America Dependent on Foreign Countries
  • The Armed American Family: Part I
  • My Battle-Hardened Stock Market Strategy for the Worst of Times
  • FARM AMERICA: New York City’s Finest Cheesemongers
  • Mises and Rothbard Finally Get Their Due

Our Most Popular Posts

  • Will Western Tanks Be a Game Changer in Ukraine?
  • Pfizer CEO Terrified of Real Questions About His Vaccines
  • Warren Miller: If You Don’t Do It This Year, You’ll Be…
  • US Debt Now Exceeds Annual GDP?
  • Europe Should Protect Itself
  • “I Will Veto Everything They Send Me”
  • How to Fight Wokism Idiocy
  • Give Me Clean, Efficient Gas
  • The Neocon Russia-Hoaxers of Hamilton 68 Must Be Held Accountable
  • Pat Buchanan Retires

Disclosure

RSS Youngresearch.com

  • What Kind of Life Are You Investing For?
  • Warren Miller: If You Don’t Do It This Year, You’ll Be…
  • Are the Realists Winning the Debate over the Future of EVs?
  • CATO: Global Freedom Is in Sharp Decline
  • Biden Administration Destroying Retiree Fiduciary Protections
  • 4 Life Changing Words for Your Survival Guy: “You Should Try This”
  • Suddenly, Holding Cash Looks Good Again to Many
  • Anti-Carbon Crusaders in Davos Talk ESG and OPM
  • Is Passive Investing Already Passé?
  • Welcome to Hotel California, Where You Can Never Leave

RSS Yoursurvivalguy.com

  • What Kind of Life Are You Investing For?
  • Why Don’t These Mayors Seem to Care?
  • Warren Miller: If You Don’t Do It This Year, You’ll Be…
  • Your Investment Focus Is the Foundation for Success
  • CATO: Global Freedom Is in Sharp Decline
  • TIME FOR A GONDOLA? Little Cottonwood Canyon Jammed with Traffic
  • Biden Administration Destroying Retiree Fiduciary Protections
  • 4 Life Changing Words for Your Survival Guy: “You Should Try This”
  • Anti-Carbon Crusaders in Davos Talk ESG and OPM
  • Welcome to Hotel California, Where You Can Never Leave

“I Will Veto Everything They Send Me”

Europe Should Protect Itself

What Kind of Life Are You Investing For?

The Neocon Russia-Hoaxers of Hamilton 68 Must Be Held Accountable

Why Don’t These Mayors Seem to Care?

How to Fight Wokism Idiocy

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives