Sanders targets highest-income Americans with
'extreme wealth tax' and 'national wealth registry'
Politico,
by
ToEckert
Original Article
Posted By: NorthernDog,
9/24/2019 2:16:00 PM
Sen. Bernie Sanders on Tuesday proposed an “extreme wealth tax” on the highest-income Americans, along with a “national wealth registry” that he said would help prevent them from avoiding the tax. The tax rate would start at 1 percent on net worth of more than $32 million and rise with income above that, topping out at 8 percent on wealth over $10 billion. Sanders’ Democratic presidential campaign said the tax would raise $4.35 trillion over a decade and would be used to fund "Medicare for All", along with his plans for affordable housing and universal childcare. Several of the other
Reply 1 - Posted by:
PChristopher 9/24/2019 2:18:21 PM (No. 188252)
1st Comrade of The Sanders Soviet Socialist Republic
6 people like this.
Reply 2 - Posted by:
cor-vet 9/24/2019 2:33:00 PM (No. 188275)
Does anyone believe the democrats and Sanders will tax their biggest donors and supporters?
9 people like this.
Reply 3 - Posted by:
stablemoney 9/24/2019 2:36:13 PM (No. 188277)
Sanders has created no wealth, only transferred it to his pocket for spending. The left has plenty of wealth. What is keeping them from giving that money to a 501(c)(3) and doing whatever they like? Sanders has been accumulating all the wealth he can grasp. Why doesn't Sanders give that money to charity?
6 people like this.
Reply 4 - Posted by:
Northcross 9/24/2019 2:37:21 PM (No. 188278)
Exactly what Hugo Chavez promised.
7 people like this.
Reply 5 - Posted by:
Clinger 9/24/2019 2:49:06 PM (No. 188292)
It would appear that the ruling class has realized that they have run out of other people’s money by exercising the current means of absconding with it. Higher taxes will lower tax collections when that tax is based on squeezing economic activity. Rather than easing the boot on the throat of the economy as Trump has done resulting in record tax collections, there is only one avenue left to take; steal the existing wealth that has survived income tax, sales tax, road taxes, business taxes, etc. Federal State and local.
Once they rob the top tier they’ll move on to the next top tier and so on until they have crushed the economy and reduced us all to a common level of despair. This is pure unadulterated Marxism. If we don’t defend the “rich” nobody will defend us when we are the rich.
6 people like this.
Reply 6 - Posted by:
Smart11344 9/24/2019 2:57:12 PM (No. 188315)
I might be a little slow, but I just realized the (D) following a senator or representatives name mean Deranged.
9 people like this.
Reply 7 - Posted by:
DVC 9/24/2019 3:05:43 PM (No. 188334)
All right, applying "gun control", now we will have "money control". Register your money, and we will then now where to go to confiscate it.
5 people like this.
Reply 8 - Posted by:
hershey 9/24/2019 3:15:29 PM (No. 188352)
If you got it, we want it, so we can give it away to them that don't have it...
7 people like this.
Reply 9 - Posted by:
Geoman 9/24/2019 3:17:18 PM (No. 188356)
High income and extreme wealth do not necessarily correlate, unless the "income" is from returns on investing the extreme wealth; consequently Sanders' policies would have politically driven loopholes to protect the socialist donors and communist party favorites, just like the old USSR.
5 people like this.
Reply 10 - Posted by:
bpl40 9/24/2019 3:27:56 PM (No. 188372)
Bernie is a Bolshevik crackpot. He is going to lose whatever relevance he has before the primaries come around. Looks like Pocahontas to the forefront.
6 people like this.
FTA: The tax rate would start at 1 percent on net worth of more than $32 million
Let me guess Sanders has wealth of $31 million.
6 people like this.
Capital goes where it is loved and well-treated. Same with talented people. Hence, why we get all those doctors from India.
They'll just leave to some country that does not honor the US demand for "exit" tax (most don't), and go create wealth there.
Ask NJ and NY about people leaving to Florida.
4 people like this.
Reply 13 - Posted by:
JunkYardDog 9/24/2019 3:57:32 PM (No. 188390)
I've always believed that Bernie Sanders was a BUM, nut now I also see he is a thief and a clown. Bernie Sanders is a Batman villain=The Joker! Oy!
6 people like this.
Reply 14 - Posted by:
Hermit_Crab 9/24/2019 4:44:34 PM (No. 188443)
"... “national wealth registry” ...
There already is one. it is called the IRS.
But, as the Second Amendment defenders say "Registration leads to Confiscation"
0 people like this.
Reply 15 - Posted by:
Tennman 9/24/2019 4:45:44 PM (No. 188444)
The wealthy didn't get and/or stay that way by paying stupid taxes - only what they legally had to. At this level money and people are easily movable.
0 people like this.
Reply 16 - Posted by:
john56 9/24/2019 4:57:09 PM (No. 188462)
Friends of the regime to be exempted from the confiscatory taxes, of course.
0 people like this.
Reply 17 - Posted by:
zephyrgirl 9/24/2019 5:22:22 PM (No. 188483)
Like the Alternative Minimum Tax before it, this tax, if enacted, will snare more and more people over time.
0 people like this.
Reply 18 - Posted by:
bad-hair 9/24/2019 5:30:54 PM (No. 188488)
Bernie, you assume that the wealthy want to live here or have no place else to go. And your wealth tax will pay for 1/8th of Medicare for all.
0 people like this.
Reply 19 - Posted by:
bad-hair 9/24/2019 5:37:37 PM (No. 188492)
Hey Hollywood movie stars. Are you paying attention? Because it looks like you're about to start PAYING. Have your people call my people and we'll do lunch (on you).
0 people like this.
Reply 20 - Posted by:
MickTurn 9/24/2019 6:16:02 PM (No. 188524)
This Sanders clown is a MILLIONAIRE...take ALL his cash and call it even!
0 people like this.
Reply 21 - Posted by:
janjan 9/24/2019 6:39:21 PM (No. 188548)
#2 Those consequences are not ‘unintended’. They are the point. In order to impose socialism they have to first destroy the US economy. They have a plan for that. They are well aware that corporations and the wealthy will flee the country. That’s the plan.
0 people like this.
Reply 22 - Posted by:
HotRod 9/24/2019 7:10:36 PM (No. 188585)
Sanders proposes fans and ice water for people in Hell! Same possibility...
0 people like this.
Reply 23 - Posted by:
FunOne 9/24/2019 9:08:13 PM (No. 188631)
Who is John Galt?
1 person likes this.
Reply 24 - Posted by:
anniebc 9/25/2019 12:57:48 AM (No. 188736)
When Bernie donates all his wealth to the federal government, then I'll take him seriously. Right now, I see him as a greedy, sniveling, old fool who wants to own and run everything. He's a thief and a lying, foolish liar. He belongs in a nut house not the White House.
0 people like this.
You first comrade. All that yapping about $15 an hour and he wouldn't paid his campaign workers the same.
0 people like this.
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Sanders & Co. are licking their jobs to confiscate wealth. And they won't stop at billionaires and millionaires.