Even A 'Wealth Tax' Wouldn’t Pay For The Democrats’ Utopia

[GURPS]

Economist Brian Riedl calculates that the democratic socialist agenda that leading Democrats are now embracing — which “includes single-payer health care ($32 trillion), a federal jobs guarantee ($6.8 trillion), student loan forgiveness ($1.4 trillion), free public college ($800 billion), and infrastructure ($1 trillion)” — will cost an astronomical $42 trillion over the next decade.
To pay for this extraordinary level of spending, Democrats are pitching the same solution they’ve always favored: tax the rich.
But math doesn’t have an ideology, and that’s where the “tax the rich” rhetoric runs into a roadblock, because even the 70 percent income tax rate that some Democrats are proposing would fall woefully short of generating enough revenue to cover even one of their exorbitant spending demands.

Even A 'Wealth Tax' Wouldn’t Pay For The Democrats’ Utopia

townhall.com

 

[LightRoasted]

If I may ...

Ooo ooo ooo. Raises his hand from the back of the class. I have an idea. How about we tax the total assets of the wealthy, in addition to income? Ya know, just like we tax someone's home. If a wealthy person has over $10,000,000 worth of all assets, (including stocks, bonds, mutuals, art, property holdings, business investments, etc, minus their one (1) primary home, one automobile, the first $10,000 in total checking and savings accounts, and the first $1,000,000 in all total retirement accounts, they are taxed at 10%. In 2015, private wealth held by families with a fortune was more than $100 million, with a total combined over $10 trillion. Just taxing the assets of those with over $100 million could bring in over $1 trillion dollars a year. Think of what we could do with that money. And hey, if they can't pay, just like those that can't pay for their property taxes, there'd have to be forced sales of some of those assets to pay the piper. And corporations, who were granted person status by SCOTUS, total assets are taxed at 15%, which includes total cash in banks. It doesn't matter where their assets are held or in what bank.

How's that for an idea? Think I just might have to send AOC an email.

 

[transporter]

If I may....

Here is the utter stupidity of all this:

1. Taxing the rich will not dig us out of the hole we are in, therefore, therefore taxing the uber wealthy to pay for MORE benefits is counter productive.

2. Giving tax breaks to the uber wealthy ALSO will do NOTHING to dig us out of the hole we are in AND will never generate enough revenue to pay for the tax breaks.

Do you understand this simple concept? Or do you two just want to continue spouting off your idiotic propaganda?

 

[LightRoasted]

If I may ...

If I may.... Here is the utter stupidity of all this:

1. Taxing the rich will not dig us out of the hole we are in, therefore, therefore taxing the uber wealthy to pay for MORE benefits is counter productive.
2. Giving tax breaks to the uber wealthy ALSO will do NOTHING to dig us out of the hole we are in AND will never generate enough revenue to pay for the tax breaks.

Do you understand this simple concept? Or do you two just want to continue spouting off your idiotic propaganda?

Hey copycat. That's my line.

I'm not talking about taxing the wealthy uber rich personally via income taxes, just their assets. Just like our, (real estate), personal house/land property, is taxed. You know, regardless of any income, how much, or how little, we make? Just think about it. In 20 years, or sooner, we could have the national debt paid off and still have some left over for programs. What's not to like? I thought, at least, at a minimum, you would love this idea. If anything, it would really light a fire under their asses and make them start to spend it rather than letting it just sit around idle growing into a pile so they can have who has the biggest dick contests. By the way, waiting for a reply from my dear Alexandria. Oh, and her birthday is coming up on October 13th. She'll be the big 30. Working on getting her something real nice. You?

 

[BOP]

Why don't we just take every single thing the rich own...money, cars, boats, clothing...surely that would work.

 

[Hijinx]

LOLLO Be like Venezuela and Nationalize everything go whole hog Communist.

 

[GURPS]

Why don't we just take every single thing the rich own...money, cars, boats, clothing...surely that would work.

 

[David]

To pay for this extraordinary level of spending, Democrats are pitching the same solution they’ve always favored: tax the rich.
But math doesn’t have an ideology, and that’s where the “tax the rich” rhetoric runs into a roadblock, because even the 70 percent income tax rate that some Democrats are proposing would fall woefully short of generating enough revenue to cover even one of their exorbitant spending demands.

Taxes are not required to fund the mania. All they do is create more debt and have the Federal Reserve print more money. Then the Saudis buy the debt with their oil profits (which is known as the Petro Dollar and the real reason Saudi Arabia is our "friend" despite the fact that they are despicable ****tards). Other nations also buy the debt because, despite all the BS going on in the world, the USD Dollar is still the best bet around.

But, all that is starting to change as Trade and Currency wars lead other big nations to dump the dollar and try to get oil priced in currencies other than the USD. And this last part pretty much explains all of the wars in the Middle East since the CIA and the British overthrew the elected leader (Mossadegh) of Iran in the 50's.

But, the bigger concern about Nationalized Health Care where the sole source is the government is this, IMO. It is another element of the Mark of Beast, if you will. Just like they are trying to force everyone into a digital monetary system where you can be unplugged from society if you don't tow the line. Now, with government controlled health care, they could technically kill you for the same reason. Sorry, your policy has been terminated for violation of clause....

Oh, but crazy Mr. Conspiracy Guy, you must be drinking the koolaid. This could never happen. Stop watching so much TV, you nut!

Sure:

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[limblips]

Economist Brian Riedl calculates that the democratic socialist agenda that leading Democrats are now embracing — which “includes single-payer health care ($32 trillion), a federal jobs guarantee ($6.8 trillion), student loan forgiveness ($1.4 trillion), free public college ($800 billion), and infrastructure ($1 trillion)” — will cost an astronomical $42 trillion over the next decade.
To pay for this extraordinary level of spending, Democrats are pitching the same solution they’ve always favored: tax the rich.
But math doesn’t have an ideology, and that’s where the “tax the rich” rhetoric runs into a roadblock, because even the 70 percent income tax rate that some Democrats are proposing would fall woefully short of generating enough revenue to cover even one of their exorbitant spending demands.

Even A 'Wealth Tax' Wouldn’t Pay For The Democrats’ Utopia

townhall.com

It will if you apply Alexandrianomics to the problem.

 

[vraiblonde]

But, the bigger concern about Nationalized Health Care where the sole source is the government is this, IMO. It is another element of the Mark of Beast, if you will. Just like they are trying to force everyone into a digital monetary system where you can be unplugged from society if you don't tow the line. Now, with government controlled health care, they could technically kill you for the same reason. Sorry, your policy has been terminated for violation of clause....

The good news is that once the kiddies get what they want, they will be the ones who have to live with it. We oldsters warning them will be dead and gone.

Anyone with even a nodding acquaintance with world history has seen this play out many times before. Some charismatic dictator rolls in and promises the moon and the stars; next thing you know you're on a raft trying to make it 90 miles across the Gulf to escape all that "paradise".

 

[BOP]

I was thinking of that video specifically when I posted my comment, but thought, hell, why don't we just take away every bit of wealth from the wealthy - that being anyone making over $250,000.00 a year. That was the magic negro's magic number.

 

[Hijinx]

I was thinking of that video specifically when I posted my comment, but thought, hell, why don't we just take away every bit of wealth from the wealthy - that being anyone making over $250,000.00 a year. That was the magic negro's magic number.

If you take away all of the wealth from the wealthy, you can only do it once. The they won't have wealthy any longer.
If you tax them really heavy you will take away their reason for working so hard to become wealthy.
They may even take the wealth they have stored in the Islands and move to the islands.
Poor people do not give jobs to anyone except the Affirmative Action workers who write their welfare checks and work in the Government buildings.