Tag Archives: Elizabeth Warren

‘Good For You’

22 Friday Nov 2019

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Now pay more. Squaw Warren is on the warpath, again, against those freeloading billionaires.

“Here’s the thing: Doing the wealth tax is not about punishing anyone,” Warren said. “It’s about saying ‘you built something great in this country, good for you. But you did it using workers all of us helped pay to educate. You did it getting all of your goods on roads and bridges all of us help pay for. You did it protected by police and firefighters all of us help pay the salaries for. So when you make it, you make it really big, you make the top 10th of 1% big, pitch in $0.02 so everybody else gets a chance to make it.’”

However, not everyone else on the stage echoed that sentiment. Sen. Cory Booker (D-NJ) described the proposed wealth tax as “cumbersome.”

We all know that Scrooge McDuck just swims around in his money, like all rich folks. That needs to stop. Thanks, EW! Come on, Booker! Get on the 158%(!) tax train already.

There is No Upper Limit on Taxation

15 Friday Nov 2019

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Another potential gift of the 16th Amendment. Squaw Warren’s tax plan is technically, legally possible.

Democratic presidential candidate Elizabeth Warren has unveiled sweeping tax proposals that would push federal tax rates on some billionaires and multimillionaires above 100%.

That prospect raises questions for taxpayers and the broader economy that experts are starting to ponder: Under which circumstances would taxpayers have to pay those rates? How might that change their behavior? And would investment and economic growth suffer?

Potential tax rates over 100% could result from the combination of tax increases the Massachusetts senator proposes for the very top tier of investors. She wants to return the top income-tax rate to 39.6% from 37%, impose a new 14.8% tax for Social Security, add an annual tax of up to 6% on accumulated wealth and require rich investors to pay capital-gains taxes at the same rates as other income even if they don’t sell their assets.

Consider a billionaire with a $1,000 investment who earns a 6% return, or $60, received as a capital gain, dividend or interest. If all of Ms. Warren’s taxes are implemented, he could owe 58.2% of that, or $35 in federal tax. Plus, his entire investment would incur a 6% wealth tax, i.e., at least $60. The result: taxes as high as $95 on income of $60 for a combined tax rate of 158%.

One of the lies told to sell the Sixteenth was that the highest rate would never come close to 10%. My weak math skills suggest that 158 is greater than 10. This may be TPC’s topic for next week. For now, I think I am actually in favor of this scheme of theft and slavery. But maybe that’s just the accelerationist in me. Tick. Tick. Tick.

UPDATE: When reading the WSJ article about Squaw, note the names of the policy-makers and backers.

Now In Those Days A Decree Went Out…

10 Wednesday Jul 2019

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The Dems 2020 Nominee for President (my guess), Elizabeth “Pocahontas” Warren plans to steal the remaining value left in the economy.

The tax-and-spenders of the world are desperate to find new ways to pay for the crumbling welfare states of western democracies. And they’re targeting the “rich” to do it.

Senator Elizabeth Warren (D-Massachusetts), a 2020 presidential candidate, has proposed a 2% annual tax on assets of households with a net worth of $50 million or more. The tax would increase to 3% for billionaires.

Warren’s policy team estimates the wealth tax would raise an astonishing $2.75 trillion over the next decade. She suggests the tax would be a good way to start paying for proposals such as “Medicare for All.”

Some of the wealthiest people in the world support the idea. A public letter signed by George Soros, Facebook co-founder Chris Hughes, and the daughter of billionaire Charlie Munger calls for a wealth tax to “help address the climate crisis, improve the economy, improve health outcomes, fairly create opportunity, and strengthen our democratic freedoms.”

Note the comparisons to FR and CH. But, also understand, the same lies (with nearly the same numbers) are being pushed here, as were used to foist the Sixteenth Amendment in 1913. You know, only the very richest will may, but only 2%. A few decades later, everyone was paying and the 2% grew to 90%. Maybe another reason they don’t teach history or economics now.

Pocahontas Might be on to $omething

23 Tuesday Apr 2019

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The debt burden has to go. Adding it as a campaign plank makes sense, even if you (like Warren) have no intention of carrying through.

Democratic presidential candidate Elizabeth Warren has identified something else to finance with her proposed wealth tax: wiping out student debt and tuition at public colleges.

She says her proposal would benefit 95% of the 45 million Americans carrying student debt and wipe it out for 75% of them.

Warren’s plan would also cut off federal money from for-profit colleges, which she says “enrich themselves while targeting lower-income students, service members and students of color and leaving them saddled with debt.”

My plan would get rid of all student loan debt and all other debts too. And, it wouldn’t require any taxes on anyone. And, it would get rid of a bunch of the most despicable criminals on Earth. Too bad I’m not an American Indian like Lizzy.