Democratic Primaries
Related: About this forumWealth tax splits Sanders and Warren from the rest of the Democrats
The Democratic presidential candidates split Tuesday night over proposals to impose hefty wealth taxes on the richest Americans, exposing an economic policy divide in the party over the need to close the gap between the super-rich and everyone else.
Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) defended their proposals to heavily tax the assets held by the wealthiest Americans to create a number of new government programs, as their more centrist opponents either dodged the question or pushed back against the idea.
Warren and Sanders have called for attacking that growth in inequality with a tax on the accumulated assets of the wealthy, while the other presidential candidates have proposed more modest measures such as increasing taxes on the capital income of investors.
The wealth tax proposals would represent a sweeping transformation of how taxes are assessed in America, pivoting away from more traditional Democratic tax plans that target new sources of income.
https://www.washingtonpost.com/politics/wealth-tax-splits-sanders-and-warren-from-the-rest-of-the-democrats/2019/10/16/5e81e388-efa6-11e9-8693-f487e46784aa_story.html
primary today, I would vote for: Joe Biden
polichick
(37,152 posts)They get what happened to the middle class, and have the guts to speak the truth about it.
The U.S. needs a paradigm shift - not a bit of tweaking that wont disturb the status quo.
primary today, I would vote for: Undecided
empedocles
(15,751 posts)they want to win in November 2020.
primary today, I would vote for: Undecided
dlk
(11,574 posts)Last edited Wed Oct 16, 2019, 07:32 PM - Edit history (1)
and had difficulty collecting it, so abandoned it and went to a VAT (value-added tax). The downside of a VAT is that is depresses spending and is regressive. I have every confidence that the IRS, given sufficient resources, can get the job done.
primary today, I would vote for: Joe Biden
SterlingPound
(428 posts)primary today, I would vote for: Undecided
dlk
(11,574 posts)Granted, impulse buying is a large driver of the US economy. However, adding more to the tax burden of the middle class and poor, while not significantly more to the tax burden of the wealthiest, is not what Warren and Sanders are looking to do.
primary today, I would vote for: Joe Biden
SterlingPound
(428 posts)primary today, I would vote for: Undecided
primary today, I would vote for: Joe Biden
wasupaloopa
(4,516 posts)it was state or local.
So wealth tax is not a new idea.
primary today, I would vote for: Undecided