What Bernie Sanders and Elizabeth Warren get wrong about wealth taxes:
Bernie Sanders and Elizabeth Warren have now both introduced wealth tax proposals, with Sanders’ beginning at lower thresholds and ratcheting up to much higher amounts.proposes a tax
starting at 1% on net worth above $32 million for a married couple, $16 million for singles, increasing to 2% for net worth from $50 million to $250 million, and 4%/5%/6%/7% for incremental brackets up to 8% on wealth over $10 billion. Her tax might be thought of as an indirect way to tax unrealized investment gains – after all, if, in a hypothetical perfect world, investments earn, say 6% per year consistently, then a 2% tax is more or less equivalent to a 33% tax on the investment income."Under this plan, the wealth of billionaires would be cut in half over 15 years which would substantially break up the concentration of wealth and power of this small privileged class.
But consider this: in all of these promises and plans, we’re meant to believe, through the constant repetition of “how they do things in Europe,” that this is in line with European practice. And it is true that a small number of other countries do indeed have wealth taxes.Depending on one’s definition, there are as many as six countries in the OECD with wealth taxes. Thetaxes stocks at a rate of 0.15%, when they are part of a portfolio worth more than EUR 500,000 .taxes financial assets at 0.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
What Bernie Sanders And Elizabeth Warren Get Wrong About Wealth TaxesIs Europe a role model for wealth taxation? Sure, some countries have this - but Sanders' and Warren's proposals are modeled more on a fictional Europe than the real thing.
Consulte Mais informação »
MSNBC guest claims that those still supporting Sanders over Warren are 'showing your sexism'A Democratic Party activist and MSNBC guest claimed Friday that voters in support of Senator Bernie Sanders instead of Elizabeth Warren are revealing their 'sexism.'
Consulte Mais informação »
Why Elizabeth Warren remains vague on health careThough all Democratic presidential candidates agree on the need for universal coverage, they disagree on the best way to achieve it
Consulte Mais informação »
Workers on Warren campaign reach tentative union agreementThis tentative agreement also comes on the heels of her picketing with UAW workers in a Detroit strike that's still ongoing.
Consulte Mais informação »
Democratic presidential candidate Warren beefs up anti-corruption planDemocratic Senator Elizabeth Warren, whose sweeping anti-corruption plan has pow...
Consulte Mais informação »
Warren Buffett has kept the same investing philosophy for decades, early interview showsIn perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.
Consulte Mais informação »