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      03-08-2019, 10:44 AM   #1
WestRace
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Elizabeth Warren 2% wealth tax

https://www.youtube.com/watch?time_c...&v=pTwPHuE_HrU

There are some fundamentals flaws in her reasoning.
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      03-08-2019, 11:04 AM   #2
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Quote:
Originally Posted by WestRace View Post
https://www.youtube.com/watch?time_c...&v=pTwPHuE_HrU

There are some fundamentals flaws in ALL OF her reasoning.
Tightened that up for you...
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      03-08-2019, 11:12 AM   #3
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Another load of shite to cover for idiots with modest incomes who spent more than they should have buying iphones and the like. We all know one or more of those people - I've a cousin who fits that mold. Also a free ride for students (and teachers, and administrators) to get into the college degree industry. What these faux idealists don't appreciate is that we are a nation of hucksters, shyster and snake oil salesmen. This will lead to a boondoggle that will make the current health care system look efficient.

I think Bernie is daffy enough to believe what he proposes is good (except leave my good life alone). Warren is just a conniving a-hole who wants more power.
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      03-08-2019, 11:27 AM   #4
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Let's take an example: Trump claims to have $5B
To simplify, let's say she'll tax 2% on everything above $50M
That means Trump owes $99M in taxes the first year.

Problem: he doesn't have $99M in cash.
He'd have to start selling Trump Tower just to pay taxes.
Next year, he'll be worth a little less than $5B, but still owes shit load of tax.
He'll need to sell Mar a Lago.
Eventually, he (and every billionaire) will own only $50M each.

So why bother with this convoluted scheme. Just say the government is capping you at $50M. We will take everything you own above $50M. Thank you very much.
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      03-08-2019, 11:42 AM   #5
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Quote:
Originally Posted by MPBK View Post
Let's take an example: Trump claims to have $5B
To simplify, let's say she'll tax 2% on everything above $50M
That means Trump owes $99M in taxes the first year.

Problem: he doesn't have $99M in cash.
He'd have to start selling Trump Tower just to pay taxes.
Next year, he'll be worth a little less than $5B, but still owes shit load of tax.
He'll need to sell Mar a Lago.
Eventually, he (and every billionaire) will own only $50M each.

So why bother with this convoluted scheme. Just say the government is capping you at $50M. We will take everything you own above $50M. Thank you very much.
It looks like you stole that from my mind.

Based on the vid, Jeff Bezos has $138B. With 2%, that would be 2.78B that he does not have. So he has to sell a bunch of shares (including a bunch of other investors) which will bring down AMZN down further so after a year, his net worth will probably be like 70B just like that.

Warren and the likes are so hell bent on taxing the rich that they don't understand how the economy works.

If she has any smart left, I'd advise she looks into the FED.
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      03-08-2019, 01:29 PM   #6
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      03-08-2019, 01:33 PM   #7
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      03-09-2019, 07:07 AM   #8
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Escape from New York...

https://www.foxnews.com/politics/new...trusive-audits

Quote:
As residents flee New York's high taxes, state uses intrusive audits to get cash from defectors
Can you imagine the irony of the rich moving to Canada if she wins?
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      03-09-2019, 07:11 AM   #9
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Quote:
Originally Posted by .2pdk View Post
Escape from New York...

https://www.foxnews.com/politics/new...trusive-audits



Can you imagine the irony of the rich moving to Canada if she wins?
Canada, the new tax haven!
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      03-09-2019, 07:11 AM   #10
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Quote:
Originally Posted by .2pdk View Post
Escape from New York...

https://www.foxnews.com/politics/new...trusive-audits



Can you imagine the irony of the rich moving to Canada if she wins?
A long time ago, maybe 20+ years, the New Yorker ran an article on people living in NYC who work very hard to be out of the city 183 days (nights) per year to avoid the city income tax. A great lesson in the more income you have, the more opportunities you will find and be able to afford to minimize taxes. Things havenít changed and it appears the only lesson NY (state, but probably city too) has learned is to audit more!
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      03-09-2019, 07:47 AM   #11
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Quote:
Originally Posted by 2000cs View Post
Things havenít changed and it appears the only lesson NY (state, but probably city too) has learned is to audit more!
Maybe they can hire an extra 25000 auditors and get AOC off the hook!
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      03-09-2019, 07:48 AM   #12
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Quote:
Originally Posted by Grumpy Old Man View Post
Canada, the new tax haven!
I havn't stopped laughing since posting it...
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      03-09-2019, 10:00 AM   #13
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Warren is polling in fourth place...

I don't see this idea - that would only enrich tax consultants - as forming the basis of Democratic policy.
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      03-10-2019, 08:09 PM   #14
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The fundamental flaw is a 2% wealth tax will take capitals out of the economy.

Last edited by WestRace; 03-10-2019 at 08:14 PM..
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      03-10-2019, 08:12 PM   #15
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Quote:
Originally Posted by WestRace View Post
The fundamental flaw is a 2% wealth tax is it will take capitals out of the economy.
As in Washington Capitals?
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      03-10-2019, 08:14 PM   #16
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Quote:
Originally Posted by .2pdk View Post
As in Washington Capitals?
Good joke or joke good.
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      03-15-2019, 12:25 PM   #17
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Relevant:

Army to name new attack helicopter after Elizabeth Warren

Not quite a meme, but fucking hilarious.


Quote:


FORT RUCKER, Ala. — The U.S. Army will honor Elizabeth Warren and her Native American ancestry with the latest addition to its helicopter fleet, the AH-68 Warren, sources confirmed today.

The Warren will join the Black Hawk, Kiowa, Apache, and Lakota in the Army’s impressive legacy of combat aircraft named after Native American tribes.



FORT RUCKER, Ala. — The U.S. Army will honor Elizabeth Warren and her Native American ancestry with the latest addition to its helicopter fleet, the AH-68 Warren, sources confirmed today.

The Warren will join the Black Hawk, Kiowa, Apache, and Lakota in the Army’s impressive legacy of combat aircraft named after Native American tribes.

The Warren conquered its two chief competitors, the AH-67 Redskin and V-23 Columbus, to win the Army contract.

“The Redskin just offended too many white people, and frankly, I’m not even sure Redskin is a real tribe,” said Army Acquisition Corps Spokesman Maj. Darren Snyder. “And the Columbus, well that death trap killed people every time it landed.”

Snyder dismissed concerns regarding Warren’s Native American ancestry.

“Do you really think Harvard hired her just to brag about having a Native American law professor?” he asked.

Unlike Warren’s heritage, there are no questions about the AH-68 Warren’s cost efficiency. The Warren will utilize a collectivized fuel economy, despite the system’s legacy of abject failure. Department of National Acquisitions reports show the entire Warren project totaled only 1/1024th of the cost of the Air Force’s F-35 Lightning program.

Not everyone shares the Army’s optimism about the Warren. College students across the nation accused the Army of cultural appropriation.

“Warren is a tribe, not an aerial death machine,” said Chystal O’Callahan, a general studies major in her sixth year at Evergreen State College. “Hasn’t the Army victimized the peaceful Warren people enough?”

Warren thanked the Army, tweeting, “The U.S. Army and Native Americans go together like peas and carrots, which is an old Cherokee recipe my grandmother taught me. Hopefully the Warren will see service by January 2020!”

Many experts believe the Warren will crash and burn long before then
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      03-15-2019, 12:28 PM   #18
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Quote:
Originally Posted by Dave 90TT View Post
Relevant:

Not quite a meme, but fucking hilarious.
The article says "will crash and burn"...that ship has sailed...
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      03-18-2019, 09:27 PM   #19
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Just finished watching Warren on CNN town hall. It's the same tax the rich, social justice, blah blah blah. I don't think it will work. Americans and Warren seem to be on a different path.
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      03-19-2019, 11:36 AM   #20
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Quote:
Originally Posted by WestRace View Post
Americans and Warren seem to be on a different path.
From each other, or from you? No critique, just trying to clarify
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      03-19-2019, 03:01 PM   #21
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Quote:
Originally Posted by UncleWede View Post
From each other, or from you? No critique, just trying to clarify
Pardon my English. What I meant was I don't think the "social justice" will work as it did in 2008 when we had the housing crash, the banks went crazy and a lot of people lost their money and they blamed that on the rich.

Now people are in much better shape financially. The banks are actually pretty responsible now. I don't hear the "blame the rich" mentality as much. The lefts actually have gone past "blame the rich" and gone straight to full "socialism". Whether it will win the general election time will tell.
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      03-19-2019, 04:54 PM   #22
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She has so much baggage, but is so dumb and power hungry to even see it. I would love her to get the nomination. But it ain't gonna' happen. Dems are even more power hungry but they are not stupid.
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