Finance and Economics > Economic News, the Global Economy and all Things Monetary

Wealth Tax?

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FreeLancer:
My wife and I were at an LA restaurant a couple years ago and Warren and her family were waiting just outside for a table. For 15 minutes, while her husband is having a great time with their kids and grandkids, she’s pacing around the courtyard all by herself looking up and down at the sky and buildings like a lunatic. She was was kind of disheveled and wearing the same outfit she always does and if I hadn’t recognized her she could have been confused for a bag lady.  It was weird.

David in MN:

--- Quote from: FreeLancer on November 25, 2019, 11:27:58 AM ---My wife and I were at an LA restaurant a couple years ago and Warren and her family were waiting just outside for a table. For 15 minutes, while her husband is having a great time with their kids and grandkids, she’s pacing around the courtyard all by herself looking up and down at the sky and buildings like a lunatic. She was was kind of disheveled and wearing the same outfit she always does and if I hadn’t recognized her she could have been confused for a bag lady.  It was weird.

--- End quote ---

I've heard similar from my sister who lives out east. Not quite the Amy Klobuchar who tosses books at interns in tirades but definitely out to lunch. And not "nice". I also know a man who took her classes at Harvard years ago who will say "something has changed in her". I guess she didn't always seem like a bitter hectoring old churchlady.

I can't presume to know her but when she says the wealth tax will only hit a few billionaires... That's how the income tax passed. It's disingenuous at best.

FreeLancer:
She had no entourage, no security, nobody asking for selfies.  It was so pathetic, and combined with her Indian DNA flap, I was shocked to hear she’s running again.  If she can’t get any love in LA I don’t see how she has a chance in hell.

surfivor:


--- Quote ---I can't presume to know her but when she says the wealth tax will only hit a few billionaires... That's how the income tax passed. It's disingenuous at best.

--- End quote ---

 I think it's the complete opposite, it won't end up effecting billionaires - after all they have all the clout and never have enough money or power. It will effect the middle class and those who are only moderately rich with a few million

David in MN:
She oddly gets favorable media coverage because she is a brilliant mind with a "plan" for everything. Except when she gets questioned about any specific detail where it turns out all her plans are Soviet claptrap and new tax schedules.

She has a bad image problem and the cat's out of the bag but in a Democratic primary with so many colorful characters maybe she's the one? Of the lot I only feel I can stomach Andrew Yang and Tulsi Gabbert. She's good on war and he at least has some semblance of how economics work. Even Booker said that Warren's plan would require the IRS to evaluate your silverware for value. I don't know why the bitter old school marm who pretended to be an Indian just gets a pass. Doesn't play well here.

It is strange that a political candidate can run on a policy of introducing a new tax. And taxing property is little but a race to the bottom. Introducing the idea that "you have more money than me so pay up" is little more than bank robbery. And there is a cultural aspect that a lot of us are here because our ancestors fled this confiscatory tax and redistribution that found favor in Eastern Europe in the early 1900s.

I don't know how this plays out but it is interesting that it's in the zeitgeist. I wouldn't begin to guess how it gets implemented and it's the most easy tax to cheat on. Very strange times.

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