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
  • Your Health
  • Ron Paul
  • Bank Credit & Money
  • Dick Young’s Safe America
  • Your Survival Guy’s Super States
  • Critical Race Theory
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money

Warren’s Wealth Tax

January 25, 2019 By The Editors

Prof. Elizabeth Warren and Holly Petraeus speak with servicemembers and their families at a forum in Ft. Myer.

Senator Elizabeth Warren, D-MA, has announced her bid for the Democratic Party’s presidential nomination. Warren, as she has throughout her career, is campaigning on a theme of ending wealth and income inequality in America. Maybe some of you remember when it was Warren, not President Obama, who created the “you didn’t build that,” theme of anti-capitalist politics.

Warren’s style hasn’t changed much in the six years since then. If anything her tirades against wealth have become more strident. She has happily attempted to assume the mantle of the most radical progressive Democrat.

To burnish her radical bona fides, Warren has just released her tax plan, a whopper set to take $2.75 trillion (yup, with a T) from America’s wealthiest over ten years in the form of a wealth tax. This is money that has already been taxed by the income tax and possibly by capital gains taxes, and most likely will be subjected to an estate tax, but Warren wants to come in for another round of carcass grazing to take a fourth layer of taxation on the same earnings.

It’s hard to imagine the extent of the negative impact on America’s economy of taking $2.75 trillion from the country’s most productive workers and giving it to the counter-productive government. Do Warren and others like her not realize that savings equals investment, and every dollar of savings they take from the wealthy and waste on government bureaucracy is a detriment to the economy?

At Fox News, Adam Shaw reports on Warren’s proposal:

2020 presidential hopeful Sen. Elizabeth Warren, D-Mass., is proposing a new “wealth tax” on Americans with more than $50 million in assets, as well as other measures that include a significant hike in funding for the Internal Revenue Service.

“We need structural change. That’s why I’m proposing something brand new – an annual tax on the wealth of the richest Americans. I’m calling it the ‘Ultra-Millionaire Tax’ & it applies to that tippy top 0.1% – those with a net worth of over $50M,” Warren, who sits on the left of her party, tweeted Thursday afternoon.

The Washington Post reported the proposal involves a 2-percent wealth tax on those with more than $50 million in assets, and an additional 3 percent on those with more than $1 billion.

Read more here.

 

Related Posts

  • Warren's Wealth Tax Won't Work
  • Here's Why Warren's Wealth Tax Won't Work
  • Elizabeth Warren's Tax Fairy Tale
  • Author
  • Recent Posts
The Editors
Latest posts by The Editors (see all)
  • Zelensky Asks G-7 for More Assistance Fighting Russia - June 28, 2022
  • AFGHAN WITHDRAWAL: State Department Accused of “Coverup” - June 28, 2022
  • The Great Reset and the COVID Coup D’etat - June 27, 2022

Dick Young’s Must Reads

  • You Want the Limo, Not the Public Bus
  • Paris, The Palace Hotels: Part I
  • The Common Ground of Democracy is Sinking Beneath Americans’ Feet
  • Making America Great Again Is What America Wants
  • V4 Stands Against North African and Middle Eastern Invasion
  • Vermont Abandoned, Dairy Farm Economy Devastated
  • What’s the Best Survival Currency?
  • Your Odds with Statins: 500 to 1?
  • “The Losses are Taking a Toll on Their Health”
  • Yes! Money Can Bring You Happiness

Our Most Popular Posts

  • FOOD SHORTAGE: Not "If," But "How Bad?"
  • One Surprising Thing You Should Know About Private Jets
  • Saudi Oil Is Different from U.S. Oil?
  • The Most Controversial Restaurant in Paris?
  • Good News for the 2nd Amendment
  • FLORIDA DODGED A BULLET: Elected Superb DeSantis Over Unstable Gillum
  • Your Survival Guy in Paris: Awakened from His Slumber, “Dad, I’m Going to London”
  • The Great Reset and the COVID Coup D'etat
  • BREAKING: Supreme Court DISMANTLES New York's Unconstitutional Gun Laws
  • Russia's "Unsubtle" Artillery Attacks Not Necessarily "Archaic"

Disclosure

RSS Youngresearch.com

  • Why Work When Taxes Take It All?
  • Regulators’ Bungled Attempts to Cut Emissions Drove Oil Prices Higher
  • Your Survival Guy in Paris: Awakened from His Slumber, “Dad, I’m Going to London”
  • What Happens to Your Passwords When You Die?
  • Your Survival Guy: Clearing the Decks, Buying a Boat, Seeing the World and More
  • Is the Great Job Boom Over?
  • Here’s Why You Need a 15-Year Retirement Investment Plan
  • Will ESG Do to Steel Prices What It Did to Gas Prices?
  • Kellogg Cuts Loose with Split Plan
  • Apple Shares Resilient in the Face of Recession

10th AMENDMENT: Dobbs Decision a Win for States’ Rights

What Just Happened? Fixing Its Historic Mistake

Why Work When Taxes Take It All?

Oil Demand Increasing Despite Growth in Renewables

Why Is the USDA Burying the Facts on Low-Carb Diets?

These Normal Household Products Could Disrupt Your Endocrine System

Copyright © 2022 | Terms & Conditions | About Us | Dick Young | Archives