Elizabeth Warren's tax concept

Jan 2016
48,419
44,401
Colorado
A 1.5% growth rate economy needs a shot in the arm.

We were in dire need of corporate tax reform, dems and even you agreed.
Yes, we did need corporate tax reform. But we are NOT going to be able to get the economy to be able to grow much above 2% on an annual basis in the 2020's, simply due to demographic reasons, unless you've got a technological innovation as BIG as electricity in your back pocket-----because that's EXACTLY what triggered that 'special century' from ~1880 to ~1980.
 
Feb 2011
16,415
5,718
Boise, ID
Yes, we did need corporate tax reform. But we are NOT going to be able to get the economy to be able to grow much above 2% on an annual basis in the 2020's, simply due to demographic reasons, unless you've got a technological innovation as BIG as electricity in your back pocket-----because that's EXACTLY what triggered that 'special century' from ~1880 to ~1980.
Electricity? I think petroleum had a little something to do with it too.
 

Ian Jeffrey

Council Hall
Mar 2013
73,183
41,394
Vulcan, down the street from Darth Vader
The federal government already taxes all kinds of things, a wealth tax would probably survive a constitutional challenge.
A wealth tax might, though it might also be a direct tax prohibited by U.S. Const. art. I, § 9. Of course, that would have to be on actual wealth, and I imagine unrealized gains might not even be taxable.
 
Jul 2013
51,668
54,919
Nashville, TN
Just gin up the inheritance tax, the richest 25 families have been hoarding trillions for generations. Some of those fortunes are based on Robber Baron tactics from the Gilded Age, money that was obtained via Cartels, monopolies, fraudulent land deals, and Trusts, and has been passed down from generation to generation and growing every generation through rent seeking.
 
Feb 2011
16,415
5,718
Boise, ID
An "unrealized gain" is a phantom, not money, and therefore arguably there is nothing to tax.
I understand the logic, but begs the question how a wealth tax would work, given most assets are continuously-fluctuating valuations of non-liquidated stocks and options.
Just gin up the inheritance tax, the richest 25 families have been hoarding trillions for generations. Some of those fortunes are based on Robber Baron tactics from the Gilded Age, money that was obtained via Cartels, monopolies, fraudulent land deals, and Trusts, and has been passed down from generation to generation and growing every generation through rent seeking.
Never seen so many "rich-vs.-poor" dog whistles loaded into a post that short.
 
Feb 2011
16,415
5,718
Boise, ID
A wealth tax might, though it might also be a direct tax prohibited by U.S. Const. art. I, § 9. Of course, that would have to be on actual wealth, and I imagine unrealized gains might not even be taxable.
Calling it unconstitutional on direct-tax grounds would seem arbitrary and hard for me to understand relative to the fact that the individual mandate penalty/tax was considered not a direct tax because Chief Justice Roberts said so.
 
Jul 2013
51,668
54,919
Nashville, TN
I understand the logic, but begs the question how a wealth tax would work, given most assets are continuously-fluctuating valuations of non-liquidated stocks and options.


Never seen so many "rich-vs.-poor" dog whistles loaded into a post that short.
Never seen an industrialized nation with a worse wealth inequality problem, we are worse than many third world countries.

America Is the Richest, and Most Unequal, Country
 

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