Posted on 09/25/2019 7:16:39 AM PDT by karpov
Democratic presidential candidate Senator Bernie Sanders on Tuesday rolled out his plan to levy an “extreme wealth tax” on millionaires and billionaires, which he plans to enforce through the creation of a “national wealth registry.”
“Today, the United States has more income and wealth inequality than almost any major country on Earth, and it is worse now than at any time since the 1920s,” Sanders said in his proposal.
Sanders’ annual tax on the top 0.1 percent would apply to Americans with a net worth of over $32 million, or about 180,000 households, and would raise approximately $4.35 trillion over the next decade, the Sanders campaign estimates.
The Vermont senator’s plan seeks to combat capital flight and other forms of tax avoidance through a “national wealth registry” and the addition of “significant additional third party reporting requirements.” The proposal calls for increased funding for the Internal Revenue Service to cover the bureaucratic costs associated with enforcing the wealth tax.
Under the plan, the IRS will be required to audit 30 percent of the top one percent’s wealth tax returns and 100 percent for billionaires.
The tax would start at one percent for a married couple with $32.5 million and would progressively increase one percent for each bracket up to eight percent for those with a net worth of $10 billion. Those rates would be halved for single individuals.
(Excerpt) Read more at nationalreview.com ...
Butt, butt, butt.............ben and jerry luv this guy. :-)
Bernie doesn’t understand the concept of liberty and freedom does he?
Communist confiscation. Film at 11.
This guy thinks he’s Stalin reborn.
If there actually was such a tax some of the extremely wealthy liberals would not such social justice enthusiasts!
Do they even have this in Cuba??
Libs will be exempt. Communist leaders won’t have to pay it. No law anymore
Sanders Calls for ‘National Wealth Registry’ to Enforce New Tax.
The Communist candidate marches on. E’ffing Loon.
We have one already...It is called the IRS. Trouble is that info is not to be disclosed and Sanders is one, very wealthy, commie. Is he planning to offload his $$$$$?
Well he does understand those concepts, but only when applied to himself and his comrades.
It sounds so good to their ears, tax wealth. but if you have a million dollars, it only provides $15,000 of interest income. (if you are lucky)
Some people talk about the importance of Gold and Silver.
Others speak of the importance of Brass and Lead.
I know but not having such a tax is why wealthy libs can keep pushing for expensive nonsense and never feel its tax bite!
Sanders Calls for ‘National Wealth Registry’ to Enforce New Tax>>>>>>>>>>>>>>>>
Feel the Burn!
Sanders must be a Maduro agent from Venezuela.
It sounds like he wants an IRS over the current IRS.
Maybe it’s just me, but I could see going and having a national nutcase registry, and just let everyone know who is crazy or non-crazy.
He opposes these things.
LOL! Just remembered. I could make one of the lists. The other one——————not so much.
approximately $4.35 trillion over the next decade,
Really?
That’s dream and crap. The wealthy will suddenly become very poor. You won’t get squat.
I think Bernie knows that full well...but his lemmings don’t get it.
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