Posted on 03/19/2024 11:29:59 AM PDT by ChicagoConservative27
A group of progressive lawmakers is renewing its push to increase taxes on the country’s wealthiest people.
The proposal, reintroduced Tuesday, would create a 2 percent tax on households that are worth more than $50 million and a 3 percent tax on households worth more than $1 billion. It would affect the wealthiest 100,000 households in the country, according to the bill’s sponsor, Sen. Elizabeth Warren (D-Mass.), USA Today first reported.
“Today I’m re-introducing my Ultra-Millionaires Tax so that when someone makes it really big—earning over $50 million—they have to chip in 2 cents on the next dollar,” Warren said in a post on X, formerly known as Twitter.
“That means Jeff Bezos can’t keep paying lower tax rates than public school teachers,” Warren added.
(Excerpt) Read more at thehill.com ...
“Dems play the long game and accept incremental wins, unlike pubs.”
Exactly!
If and when the GOP learns this, it won’t matter what our overall agenda is.
And yes folks, it does suck when we don’t get what we want as conservatives. But we need to understand that power is very rarely accomplished in one or two bold moves.
It comes incrementally and with patience.
This would cause the stock market to fall, and hurt every middle class person who had a 401k, IRA, or any other retirement account.
And how do you even determine the annual appreciation of artwork that that remains owned by the same person over many years? It's impossible. Only a sale will let you know the true value.
I NEVER HAD A PAYCHECK THAT WAS SIGNED BY A “POOR” MAN.
This is a wealth tax. The uber wealthy can afford to leave high tax areas and/or hire very good tax accountants.
This is nothing but an election year proposal to win votes.
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