MCViewPoint

Opinion from a Libertarian ViewPoint

EconomicPolicyJournal.com: Elizabeth Warren Goes Tax Crazy

Posted by M. C. on January 30, 2019

This is a remarkably aggressive tax proposal because of the annual nature of the tax and would severely reduce the wealth of those taxed in just a decade. It would destroy over 2.75 trillion dollars in capital investment in just 10 years, according to Warren’s own numbers. And would put those funds into the bureaucratic government machine that wastes money as all central planning money does.

http://www.economicpolicyjournal.com/2019/01/elizabeth-warren-goes-tax-crazy.html

RW 

Sen. Elizabeth Warren, D-Mass., has just proposed an annual “wealth tax” on the richest Americans.

Note well: This is not a tax on income. It is a tax on the wealth rich Americans have. This is big.

The new tax proposal from Warren, who recently announced her bid to challenge President Donald Trump in 2020, would apply to Americans with more than $50 million in assets.

It would be a tax of 2% per year on the wealth of anyone who’s wealth falls between $50 million and $1 billion. For those with wealth over a $1 billion, the tax would be 3%.

This is a remarkably aggressive tax proposal because of the annual nature of the tax and would severely reduce the wealth of those taxed in just a decade. It would destroy over 2.75 trillion dollars in capital investment in just 10 years, according to Warren’s own numbers. And would put those funds into the bureaucratic government machine that wastes money as all central planning money does…

Be seeing you

Faux

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