General

Wealth Tax

Posted on 30th September 2019
Elizabeth Warren's 'Wealth Tax' Is Punishment, Not Taxation

Does economic success deserve to be punished? The Democratic Party will have to answer in the coming primaries. Joe Biden is on the correct side of it.

human being | amateur photographer | information security professional | nemophile | philomath | Montgomery Township | New Jersey | USA

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    • Khürt Williams
      2nd October 2019 at 10:33 PM

      @nitinkhanna I am unsure what you mean by the "right thing". I think religion and culture are often too intertwined with defining what the "right thing" is.

    • Khürt Williams
      1st October 2019 at 12:35 PM

      @ronguest understood. Thanks for the clarification.

    • Khürt Williams
      3rd October 2019 at 7:54 AM

      @ronguest thanks for sharing the NPR link. I learned that our tax system only exists due to a constitutional amendment in 1913.

  • ronguest
    30th September 2019 at 8:21 PM

    @khurtwilliams My first problem with all these notions is that rich people hire extremely smart people to find all the loopholes and there are always loopholes. Rich people can get citizenship in nearly any country in the world...

    • Khürt Williams
      1st October 2019 at 6:45 AM

      @ronguest goind back to the premise of the question, are you saying that ALL wealthy people are jerks and that "we the people" must punish them as a group "collectively" by inventing new unjustified taxes?

  • nitinkhanna
    30th September 2019 at 5:49 PM

    @khurtwilliams there’s a phrase at the end of the article that I take issue with.

    The article says that wealth creation involved hard work in building a product that people voluntarily pay for. But with the way monopolies and duopolies work in this country, I don’t think ‘voluntary’ is accurate.

    What do you think?

    • Khürt Williams
      30th September 2019 at 6:20 PM

      @nitinkhanna That little bit bothered me as well. I know that there are many who already have a leg up on wealteh creation and many for whom hard work means just being able to buy food. So ... yeah,

      But monopolies can be broken. Go ask AOL, BlackBerry, Blockbuster, taxi drivers in New York City.

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