I like how she told him that she would need to meet with him to explain how much he would pay. She dodged giving him an answer.
I clicked Bloomberg, and got "You’d pay $3.079 billion next year under Elizabeth’s wealth tax" 3 billion dollar tax bill. Imagine the number of banks he'd put out of business to move that kind of money.
That’s part of it, but I don’t think either is a serious threat. Warren’s wealth tax won’t end billionaires and Bernie’s would never happen. I think a lot of people (like Steyer, Schultz and Bloomberg) like to see themselves as some sort of hero/savior. They don’t realize they are not wanted.
The wealth tax is total bullshit. And just another power grab by officials that can’t manage and wanting more power
She wants to tax 6 percent on top of the annual 4 percent hit on inflation. What do you think is going to happen to the economy once we take long term investing out of it. It’s also not going to say at the ultra wealthy. It will be every day millionaires to get votes. There’s a reason most the majority of European countries dropped wealth taxes. It’s hard and costly to enforce.
What do you think is going to happen to the economy when spending is cut to match revenue, and the middle class dries up? There is no future in how things are now. We are already a plutocracy, we'll be feudal if things continue as they are another 50 or 100 years.
I think we should pay for the government we want. Big government, small government is irrelevant to the fact that if its important enough to be a function of government, its important enough to pay for.