Message from @DueyBear
Discord ID: 626302797041631233
There is no such thing as an impeachment inquiry. you impeach or you don't. This just shows Pelosi has lost control of the house and needs to appease the far left. The far left might have damming info on Pelosi
We are going to have a meeting to review the meeting where we will discuss the location of the next meeting
We are going to appoint a beewatcher watcher watcher
*"it's only an anti-semitic term if you think the jews control the world"*
Holy shit... *'It's only anti-semetic if you're an anti-semite...'* 😲😲
For the record, there is no mountain (mostly flat farmland) and the lake is a mud puddle 😏 (referencing the severe storm text scroller). Also, they protest because they can't come to terms of who he really is.
little over a week til this drops https://www.youtube.com/watch?v=zAGVQLHvwOY
Makes me want to go watch the Keith Ledger Batman movie.
the idea of a wealth tax continues to ignore the laffer curve. Which basically states that income is relatively flat regardless of tax rate because of the incentives and disincentives that a tax places on the economy. If you look at the history of the US tax collection (since we moved away from the tariff tax based tax system), regardless of tax rate, the average income for the government is 18%
https://cdn.discordapp.com/attachments/409863699772342289/626296011903598592/unknown.png
any new tax may collect new revenue, but also comes with added expense in administration and the issue of de-incentivizing some behaviors that may be socially positive.
Then they will create loopholes to try to reintroduce those incentives, just as we have now in the income tax system. The end result is we will still be sitting at 18% of GDP in tax revenues unless you can convince society that additional services are worth the cost and people become happy to pay more than 18%.
A Wealth tax seems really destructive to me. As Tim notes people has wealth isn't necessarily liquid. People who own businesses and house are going to suffer a lot.
example: 2% wealth tax: Person owns house worth 300k will pay an additional 6k a year on top of income tax, payroll tax, sales tax, property tax, ect.
Now my understanding is maybe you only tax people with assets over a million dollars. still My parents bought a house worth ~300k to 400k in the 90s. the house is now worth over 1millions dollars. they can't afford to pay 20k on top of the bills they already pay, they would have to sell the house.
Similar problem with businesses. taxes will just eat companies up and destroy them and the jobs they bring
not to mentions you have to tax people on the retirement plans, to the point they'll never be able to retire.
Many farmers who own hundreds of acres, if a nearby city is growing, their assets skyrocket into millions of dollars in value. Suddenly the farmer cannot afford the land because of the tax. And suddenly putting dozens of acres up for sale increases supply, lowers demand, and now lowers the value.
I remember seeing a fox story about a family farm that was basically shut down by an estate tax. Yes, they should have planned better, but it shouldn't happen that a tax basically causes a business to shut down and people to become homeless and unemployed
Washington's inheritance tax does that too.
It's silly because the government is basically destroying future taxable income.
For a pittance.
Why leave for tomorrow what can be done today?
That income's going to be way easier to destroy today than if they let it grow before taxing it.
I'm pretty sure a wealth tax is going to encourage people to hide their assets in things like crypto currency and gold, or possibly other things that government might have a hard time tracking like art or historical items.
Pretty much all taxes do
And the Billionaires will simply buy citizenship in the Caribbean.
Well, technically folks who make just 200k per year can afford to buy citizenship in a variety of countries.
...
In medieval times, rings were very common, as were gold chains, because they could not be taxed; As a result, a poor man would have at least *"a"* gold ring, a rich man a ring on every segment of his fingers- Two, if they would fit.
A lot of wealth will just leave the US and we'll all be poorer
Cutting out most of the bureaucratic processes of our government would fix that 18% income. We have way to many committees and subcommittees, we should be striving for minimalist governing.
don't forget the US already has a wealth tax of 1.7%, so this would be an additional wealth tax
and i don't think the goal is a wealth tax at all. i think they really just want the "National Wealth Registry" and are using the tax as a pretense to create it
just like the "common sense gun laws" are really about creating a registry on guns. it's the information they want
also on top of that biden wants to make the top marginal tax rate 77%
I don't have enough helicopter emojis
and don't forget Warren's plan included a one-time 40% “exit tax”. For those who try to leave the country
