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.

Wealth tax makes no sense, only liquid assets should be taxable.

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

https://www.youtube.com/watch?v=hJHcCRI-Pb8

https://twitter.com/ACTBrigitte/status/1176551951095533568?s=20 I think she gets my vote for cuntiest member of "the squad".

Jane FONDA Jr. has a better chance than Fauxahontas...

I'd agree with that. "Frying Pan Face" Tlaib is a cunt

who is Jane FONDA Jr to you?

when dem, there are too many this time..lol

https://www.youtube.com/watch?v=7CfzZwfvE8c
poor kids

Climate change is a full blown doomsday cult now

now?

it wasn't as severe as it's grown lately

we're getting into suicide pacts now that's dangerous grounds

I think climate change insanity is going to increase and get far worse. I think you’ll see worse violence than antifa over it.

Climate change is fundamentally different than the other social justice nonsense because it’s literally a doomsday event, as described by the rhetoric

eco terrorism is going to become a regular occurance

Yeah.

I think it will get worse as fossil fuel use reduces.