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2021-03-03 Home Front: Politix

[CNBC] A slew of Democrats on Capitol Hill...including progressives Sen. Elizabeth Warren, D-Mass., and Sen. Bernie Sanders, I-Vt. on Monday proposed a 3% total annual tax on wealth exceeding $1 billion.

They also called for a lesser, 2% annual wealth tax on the net worth of households and trusts ranging from $50 million to $1 billion....The legislation would invest $100 billion into IRS systems and personnel, ensure a 30% audit rate for the super wealthy, and impose a 40% exit tax on wealthy Americans who seek to renounce their citizenship to avoid a wealth tax.
I'd like to hear Oprah and Soros and Bezos testify on this.

Trusts and Houshold worth (not earnings)... Man is money going to flow offshore to havens. Vacation home? Sell it. Boat? Sell it. Newer or classic cars? Sell them. Move the money to hoards. High home price area? Move south. Mansions at vacation areas and islands? Sell. Create fake offshore companies to own stuff? Big Time!

Posted by Lord Garth 2021-03-03 00:00|| || Front Page|| [11135 views ] Top
File under: Commies

#1 Yes a wealth tax for Congresscritters, they get to have the same assets as that they had when they entered the hallowed halls of Congress when they leave.

impose a 40% exit tax

n.b. The Constitution explicitly prohibits export taxes. Once again showing they have no use for the Constitution other than to assuage the rubes in behaving themselves rather than act on the abuses of the ruling caste.

Posted by Procopius2k 2021-03-03 06:45|| 2021-03-03 06:45|| Front Page Top

#2 Liz and Bernie, another couple of financial geniuses with other people's money.

Posted by JohnQC 2021-03-03 08:08|| 2021-03-03 08:08|| Front Page Top

#3 Probably just battle space prep for when the USD goes full Zimbabwe and everybody qualifies as a 'millionaire'.

Posted by Cesare 2021-03-03 09:05|| 2021-03-03 09:05|| Front Page Top

#4 the Caymans may get a whole new influx of people....

Posted by 746 2021-03-03 13:13|| 2021-03-03 13:13|| Front Page Top

#5

CONGRESS
DECLARES SOCIALIST CLASS WARFARE
With Wealth Tax

Then Campaign Donations roll in from the Elite.
Once the $$$ is collected then Congress quietly BURIES a few Tax Loop Holes in some bill. That to use you must be OLD $$$$$.

The tax then becomes a means of keeping Middle Class working families from a massing wealth and passing it on to their children.

eg... The Inheritance Tax is loaded with loop holes, if you are already wealthy Class.

Posted by NN2N1 2021-03-03 14:54|| 2021-03-03 14:54|| Front Page Top

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