Bernie Sanders offers bill to tax Billionaires wealth gains during pandemic

[GP270watch]

Anybody who was crying about a wealth tax last year looks like a damn fool. Bezos lost 25% of Amazon in a divorce and is richer today than he was before the divorce, He's also sold large chunks of his shares too and yet he's richer than ever. A wealth tax as proposed by Elizabeth Warren on 2% over $50 million and 6% over a billion is needed.

[GP270watch]

Anybody who was crying about a wealth tax last year looks like a damn fool. Bezos lost 25% of Amazon in a divorce and is richer today than he was before the divorce, He's also sold large chunks of his shares too and yet he's richer than ever. A wealth tax as proposed by Elizabeth Warren on 2% over $50 million and 6% over a billion is needed.

We already have a tax for when people get a lot richer in a particular year, it's called an income tax.

 We have a tax code where the wealthy pay low taxes as a percentage of income on an increasingly concentrated share of all the wealth. So no the tax code is not adequate to deal with the problem of wealth inequality.

[GP270watch]

This quarantine period without the innovations created by these billionaires may have fully collapsed American society, and ol' Breadline Bernie's response is to institute an unconstitutional punitive tax/bill of attainder. America dodged a bullet in that primary twice.

 The quarantine without the resources of the Federal government would have collapsed society. Everything these billionaires "innovated" was created on the public backbone. GPS, The Highways, nearly the entire aviation system, USPS, The Internet, are massive government infrastructure that is really what is essential. For us to make the public investments we need for the next 100 years of innovation the government and the public can not be broke and thinking that billionaires are the real innovators is extremely shortsighted and ideological but not very logical or reality based.

[GP270watch]

 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.

 

[GP270watch]

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.

[GP270watch]

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.