France under Louis XVI had a wealth tax

That’s not a radical idea

Roger stone sentence reversed

bernie is a commie. honeymooned in USSR and said breadlines were good things

95%income tax. lol

https://en.wikipedia.org/wiki/Vingti%C3%A8me

5% wealth tax

any wealth tax is retarded

property tax is retarded

inheritance tax is retarded

tax on top of tax.

Wealth tax will destroy any economy

Happened to Sweden

@Puerto Rican Nelson your the only one who will understand

Define "destroy" the economy.

Crash

@Bleach Clinton imposed a luxury tax and the economy did just fine.
Rich people save their money, romoving it from circulation. A bad thing.
Poor people spend 100%. The ideal.

GG @wuzamarine, you just advanced to level 5!

Im lazy hold on

If you invest $10m at a $100m valuation into a company.

That $10m you invested gave you 10% of the company for a net worth of 10m usd. Under a 8% wealth tax you now have to pay 800,000 in taxes every year on this investment.

Now you don't have this money in liquid you have it in assets. So you are forced to sell assets to hold value.

This is also economically retarded as 8% growth breaks even then factoring in the average 2% inflation you need over 10% growth.

You also have to factor in that 10% growth under bernie is taxed 60% so 10% would give only 4% then 2% after inflation

Under an 8% wealth tax a 20% profit margin would net 0% profit and after a 2% inflation rate you actually lose 2% of your wealth if your stocks grow 20% yoy.

"wealth tax you now have to pay 800,000 in taxes every year on this investment."

Baloney. You are only paying tax on your gains. Hence "capital gains tax".

rich people save their money in banks (who invest their money) or in investments. they dont stuff it under the mattress

we already have capital gains tax. how would wealth tax be different from capital gains tax?

so bernie couldn't even beat buttigieg by 5k votes in New Hampshire? that's Vermont's neighbor... pretty pathetic tbh

@BarronVon
Bullpuckey. They store their money in tax havens.

tax havens like banks?

banks that invest the money they have?

Corporate tax was 67% for years and USA did fine.
Reagan gaffed the tax bill off on the middle class and USA has been struggling ever since.

just gonna ignore that ur wrong about where they store their wealth?

London is a tax haven. Brussel will be the next, after Brexit.

what is a tax haven?

u think when money is in a bank that it isnt being used in the economy anymore?

Where you escape capital gains tax!

lol ur clueless about money. banking. investing. taxes.

That's why you should keep your money in a shoebox

https://www.investopedia.com/terms/t/taxhaven.asp

thanks bud I get I know what a tax haven is.

Looks like you are

@Bleach Clinton imposed a luxury tax and the economy did just fine.
Rich people save their money, romoving it from circulation. A bad thing.
Poor people spend 100%. The ideal.

u said rich people remove their money from circulation...

explain how