Ray C's thoughts on Warren have come to fruition ... never saw that.
Don't know if the Trump Camp need more money ... they have loads now.
They need distractions, a divided Dem machine, the economy to keep chugging along and a China deal and he's half-way over the line for a second term
while it's true that many on wall st hate/fear her, what they hate more than anything, is uncertainty...and they've got that in spades with trump. not saying that their money won't go to trump, but not nearly as much if it were romney v warren.
btw, having wall st. hate her is 100% on brand for warren....she's already fundraising on it.
and like the tides going in and out, winning primary candidates ultimately move toward the center for the general...and this will also be true for warren if she gets the nomination.
great idea, newbie dave.
let's hit retirees living off their savings with a consumption tax after they've already been taxed their entire lives on their earnings at the federal, state, and local level!
let's crush the poor and working class who spend a significantly higher percentage or their income than the middle class and wealthy!
yet another really well thought out idea, newbie dave!
not sure what you're referring to, newbie dave.
my thoughts on warren were that one would have to a completely ignorant novice on US politics and policy to state that a sitting US senator with liberal leanings and strong grass roots support has 0% chance and that even dems don't like her.
Ray, since you mentioned it ...
Elizabeth Warren’s wealth tax is ‘pretty nuts,’ says billionaire lifelong Democrat Ron Baron
Key Points
- Elizabeth Warren’s wealth tax is not the right idea when it comes to raising government revenue and reducing income inequality, says buy-and-hold billionaire Ron Baron.
- “I don’t think Elizabeth Warren would be successful ... if she were chosen president in getting through the policies that she’s proposing,” says Baron. “It’s pretty nuts.”
- Rather than a wealth tax, Baron suggests a value-added tax, which puts levies on goods and services during each stage of production and sale.
https://www.cnbc.com/2019/10/25/eliz...ron-baron.html
Ray glad you agree it's a great idea ... here a list of the few countries who have a a value added tax.
https://www.avalara.com/vatlive/en/v...gst-rates.html
Just think how much those poor millionaires will have to pay on their next Bentley?
i didn't bring up the US needing a consumption tax, newbie dave.
you did.
but what i did notice is that you haven't addressed how your half-baked idea of instituting a consumption tax would devastate retirees who have already spent their entire lives being taxed on their income.
have at it, newbie dave.
^ Ray, I was referring to your post ... but up to you.
As for 'addressing the issue of a consumption tax' ... did you read the list of countries who have adopted it.
Each of them have made that choice ... I don't need to defend it.
But, if you do wish to educate yourself on the issue, here is Bill Gates article in Forbes ... Bill Gates Points To The Best Tax System, The Progressive Consumption Tax
or ... Why some experts want the US to adopt a VAT and other tax lessons from around the world
If you wish to read the Pros and Cons ... the positive and negative arguments, have a stab at the WSJ's article ... https://www.wsj.com/articles/should-...tax-1456715703
Andrew Yang's take on it ... https://www.yang2020.com/policies/value-added-tax/
Or The Guardian's piece ... Is it time to switch income tax with a sales tax?
That's a bit of a shocker eh?wealth tax is ‘pretty nuts,’ says billionaire
A consumption tax is idiotic. Most states and local governments already have sales taxes and they are all regressive and hurt the middle class and poor the most who wind up paying the bulk of theses taxes. Just a stupid distraction from taxing the uber rich which most other civil counties do.
^
exactly.
and imagine being a retiree or near retiree....you've spent the last few decades being taxed on your income by the feds, (probably the state) and the local govt.....but you've still managed to build up a nest egg to live out your days on....and now the govt is going to start taxing you on what you buy.
fuck off.
No because there is no sales tax on the federal level. It is left to state and local governments. So for example if I wanted to make a big purchase on say a TV I could drive down to Oregon and save 10% because Oregon has no sales tax while the state of Washington has a 6.5% tax plus the city of Seattle adds an additional 3.6% in municipal sales tax.
So potentially someone could get state county and city sales taxes all stacked on top of each other.
https://en.wikipedia.org/wiki/Sales_..._United_States
^ Agreed. It's unthinkable, that's why I didn't think of it
(thank you for not making any Kmart jokes)
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