Morons are still arguing against a wealth tax. Meanwhile Republicans are scheming on the next tax policy to rob public coffers and pass more wealth to the rich. They're going to index capital gains to inflation, something that will overwhelmingly benefit the top 1% of shareholders.
The Republicans will probably get this policy passed too because Americans are bad at math, bad at understanding how policy impacts their everyday lives, and have been brainwashed to be billionaire worshipers.
Trump is even talking about doing this by executive order and bypassing Congress.
Are you really complaining that arguing about a wealth tax is a moronic distraction? You are the one who brought it up!
Yes because during the Democratic debates people said insane and crazy things about how Democratic ideas were unaffordable or would somehow bankrupt the economy. And since then we've seen that the economy is truly driven by workers including the poorest of workers, The United States Government can find tremendous resources whenever it wants to bailout businesses and the wealthy, the rate of income inequality is out of control. Our tax code is a total failure, with the IRS given poor resources to even try to enforce the laws on the books.
It's time to stop debate on a wealth tax, it's obviously needed. Because while Republicans and way too many Democrats are stilling drinking the billionaire's Kool-aid, the Republicans are already scheming the next evisceration of the tax code to funnel more wealth to the wealthiest. So let's all agree that a wealth tax is necessary and find the best way to implement it.
It's called the estate tax.
Reasonably easy to adminster, and doesn't have any constitutional difficulties.
We already have a tax code that has crippled the estate tax with all types of loopholes and tax shelter structures. It also does nothing to address rampant wealth inequality now.
Those loopholes could potentially Theory closed. The other big problem, equally reversible, is the Bush Administration raised the threshold for the estate tax gargantuanly. The current threshold is just over 11 and 1/2 million dollars. That is beyond absurd.
