The Washington Examiner: on Tax Reform
Elizabeth Warren:
2% wealth tax on assets over $50M; 3% over $1B
The wealth tax proposed by Sen. Elizabeth Warren: a 2% wealth tax that Warren would levy on the total assets of individuals worth more than $50 million and 3% on individuals with more than $1 billion.
Per a Forbes analysis, this means that Jeff Bezos, whose $137 billion fortune makes him the richest man in the world, would owe the IRS an additional $4.1 billion each year.
Source: Washington Examiner on 2020 Presidential Hopefuls
Jan 29, 2019
Elizabeth Warren:
Wealth tax: $4.1 billion per year on fortune of $137 billion
Asked about a wealth tax proposed by Sen. Elizabeth Warren, the very wealthy former New York City mayor said the idea was probably unconstitutional, definitely counterproductive, and something to be avoided at all costs. Anyone favoring radical
redistribution, Bloomberg said, should look south for an example to avoid: "It's called Venezuela" [which currently has a socialist government].The policy on the table: a 2% wealth tax that Warren would levy on the total assets of individuals worth
more than $50 million and 3% on individuals with more than $1 billion. Per a Forbes analysis, this means that Jeff Bezos, whose $137 billion fortune makes him the richest man in the world, would owe the IRS an additional
$4.1 billion each year.
Critics might complain that [Bloomberg's comparison] is heavy-handed, as the Warren wealth tax pales in comparison to the wealth redistribution of the Chavez-Maduro regime in Venezuela.
Source: Washington Examiner on 2020 Democratic primary contenders
Jan 29, 2019
Mike Bloomberg:
Wealth tax is counterproductive and unconstitutional
Asked about a wealth tax proposed by Sen. Elizabeth Warren, the very wealthy former New York City mayor said the idea was probably unconstitutional, definitely counterproductive, and something to be avoided at all costs. Anyone favoring radical
redistribution, Bloomberg said, should look south for an example to avoid: "It's called Venezuela" [which currently has a socialist government]. The policy on the table: a 2% wealth tax that Warren would levy on the total assets of individuals worth
more than $50 million and 3 percent on individuals with more than $1 billion. Per a Forbes analysis, this means that Jeff Bezos, whose $137 billion fortune makes him the richest man in the world, would owe the IRS an additional $4.1 billion each year.
Critics in the Democratic Party will complain that [Bloomberg's comparison] is heavy-handed, as the Warren wealth tax pales in comparison to the wealth redistribution of the Chavez-Maduro regime in Venezuela.
Source: Washington Examiner on 2020 Presidential Hopefuls
Jan 29, 2019
Mike Bloomberg:
Wealth tax is unconstitutional & counterproductive
Asked about a wealth tax proposed by Sen. Elizabeth Warren, the very wealthy former New York City mayor said the idea was probably unconstitutional, definitely counterproductive, and something to be avoided at all costs. Anyone favoring radical
redistribution, Bloomberg said, should look south for an example to avoid: "It's called Venezuela" [which currently has a socialist government].The policy on the table: a 2% wealth tax that Warren would levy on the total assets of individuals worth
more than $50 million and 3% on individuals with more than $1 billion. Per a Forbes analysis, this means that Jeff Bezos, whose $137 billion fortune makes him the richest man in the world, would owe the IRS an additional
$4.1 billion each year.
Critics might complain that [Bloomberg's comparison] is heavy-handed, as the Warren wealth tax pales in comparison to the wealth redistribution of the Chavez-Maduro regime in Venezuela.
Source: Washington Examiner on 2020 Democratic primary contenders
Jan 29, 2019
Oprah Winfrey:
Resents the high taxes the government makes her pay
She may be worth $2.8 billion, according to Forbes, but don't count TV megastar Oprah Winfrey in with other billionaires who feel they aren't taxed enough. Then there was her interview in 2011 with Piers Morgan when she addressed the
pain writing checks to the IRS for over $100,000. "The most pain I feel - my accountants will tell you this - every time I write a check to the IRS. It's a ceremony. They come in - for years they came in with wine - now they come in with tequila."
Source: Washington Examiner speculation on 2020 Presidential hopeful
Jan 10, 2018
Page last updated: Aug 06, 2024