Elizabeth Warren's proposal to tax both assets and returns to those assets at very high rates is unrealistic
Share to linkedinLightRocket via Getty Images
Warren not only wants to raise taxes on income from investments, for many households she wants to tax the assets that generate those returns as well. This is especially true of her plans to increase taxes on capital gains and to tax accumulated wealth above $50 million. Her rival Bernie Sanders may face many of the same problems, though he has been less specific about many of his tax ideas.. Others are described elsewhere on her website.
· Tax wealth. In her most recent proposal, Warren would tax wealth between $50 million and $1 billion at 2 percent and assets in excess of $1 billion at 6 percent., a change that would increase taxes on a decedent’s investment profits. Presumably, this would apply only where accrual taxes had not already been paid on gains. · Establish a· Lower the estate tax exemption level to $7 million and raise estate tax rates.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elizabeth Warren offers to meet with Bill Gates over wealth taxElizabeth Warren announced on Twitter that she would be willing to meet with Bill Gates after Gates said he's unsure how open-minded she is.
Read more »
Elizabeth Warren says she'd 'love to explain' her wealth tax to Bill GatesDemocratic presidential candidate Sen. Elizabeth Warren says she would 'love to explain' her wealth tax to Bill Gates after the Microsoft co-founder expressed doubt that she would sit down and talk with him
Read more »
Warren would 'love to explain' how much Bill Gates would pay under her wealth tax'I promise it's not $100 billion,' Warren tweeted, saying she'd be happy to go over her plan with the former Microsoft CEO if they get the chance.
Read more »
Elizabeth Warren releases new plan for military service members and veterans, emphasizing educationAhead of Veterans Day, Democratic presidential candidate Elizabeth Warren released an over 7,500-word plan titled 'Keeping our promises to our service memebers, veterans and military families.' Her proposal covers a broad range of issues that impact military members and families, from raising military pay to eliminating military sexual assault, as well as the policies that impact veterans after their service has ended, such as veteran homelessness and education.
Read more »
After Bill Gates refuses to say if he'd back her over Trump, Elizabeth Warren says she'll go over wealth tax with himAfter Microsoft head Bill Gates refused to endorse Elizabeth Warren, saying he wasn't sure she would sit down with someone wealthy—Warren tweeted that she was willing to sit down with him—and explain just how much money he'd pay under her plan.
Read more »
Letters to the Editor: 'Medicare for all' would put doctors out of business. Does Warren have a plan for them?Doctors cannot simply raise prices when their costs go up. Making them take only Medicare rates would put them out of business.
Read more »