January 25, 2019
Elizabeth Warren is making it exceedingly clear that she is a socialist, and that is quite frightening considering the fact that she could potentially become our next president.
Unless some really big name unexpectedly enters the race, there is a decent chance that Elizabeth Warren could win the Democratic nomination in 2020. And if she ultimately won the general election, the Democrats would likely have control of both the House and the Senate during her first two years in the White House as well. So that means that the proposal that you are about to read about could actually become law in the not too distant future.
After AOC’s proposal to raise the top marginal tax rate to 70 percent received so much favorable attention, it was just a matter of time before Democratic presidential candidates started jumping on the “soak the rich” bandwagon, and the first one to strike was Elizabeth Warren.
When she announced her new proposal on Twitter, she dubbed it the “Ultra-Millionaire Tax”…
We need structural change. That’s why I’m proposing something brand new – an annual tax on the wealth of the richest Americans. I’m calling it the “Ultra-Millionaire Tax” & it applies to that tippy top 0.1% – those with a net worth of over $50M.
It would be bad enough if this was just a one-time tax on wealth.
But it isn’t.
Please note the use of the word “annual” in Warren’s tweet. That means that the rich would keep getting hit with this tax year after year after year.
Those with more than 50 million dollars in assets would pay a 2 percent tax each year, and those with more than a billion dollars in assets would pay 3 percent each year…
The Post reported that Warren has been advised by Saez and Gabriel Zucman, left-leaning economists affiliated with the University of California, Berkeley, on a deal that would levy a…