AOC Thinks Concentrated Wealth Is Incompatible With Democracy. So Did Our Founders.

[Irish Exit]

True, but the tax is based on the person's wealth (estate). I'm not sure if that makes it different from a constitutional perspective. I think the interpretation of a direct tax vs indirect tax was always somewhat fuzzy and changed in varying court interpretations.

Income is so broadly defined for the purposes of tax laws I doubt it would make a difference. If your dentist traded you a filling for you cleaning out his gutters, you are supposed to report the filling's value as income and the dentist is supposed to report the gutter cleaning as income. Even debt forgiveness is taxable income though few people outside of financial institutions actually report it to the IRS.

 

[Nordberg]

Technically the estate tax isn't a wealth tax but a gift tax on the transfer of assets at the time of death (or during life actually) at the 40% rate.

40 percent? It is zero up to 11 million. Then on a sliding scale after that. No it is not 40 percent. Technically .you are flat out wrong. https://www.cbpp.org/research/federal-tax/ten-facts-you-should-know-about-the-federal-estate-tax 99.8 of estates pay zero estate tax.

 

[Ross Dolan]

AOC is incorrect or at least a radial perversion of what Jefferson and Company thought. What Jefferson thought that was British centered mercantile economy was a threat to freedom. Of course if Jefferson were alive today, he would cringe at what the DNC does to make people even more dependent of the government. The DNC is the anithesis to Jefferson. He would be more a libertarian.

AOC is not "incorrect" on most of what she is saying.

That is what bothers you so.

Anyway...I wish her and the others like her the best of luck in changing things through government, because the only alternative is changing things the way they did in France during the late 18th century...or Russia in the early 20th!

 

[Irish Exit]

AOC is not "incorrect" on most of what she is saying.

That is what bothers you so.

Anyway...I wish her and the others like her the best of luck in changing things through government, because the only alternative is changing things the way they did in France during the late 18th century...or Russia in the early 20th!

Declaring her correct with any argument is nonsense.

 

[Ross Dolan]

Declaring her correct with any argument is nonsense.

 

[PoliTalker]

Yeah, but our founders were probably secret Communists.


http://nymag.com/intelligencer/2019/01/ocasio-cortez-aocs-billionaires-taxes-hannity-american-democracy.html?utm_campaign=nym&utm_source=fb&utm_medium=s1&fbclid=IwAR1SAIBRd5jerTg6pK-w94LXSYeN7joyU_DMEUX4RGxFdpIMm3pdgioZUbg

I agree with AOC!

 

[Irish Exit]

Doesn't change the fact that the very first person they picked to be President would be a billionaire in today's dollars, so wealth concentration was not their fear. You have presented zero evidence to support your SJW Revisionist History narrative. Obviously it is because there isn't any.

 

[Ross Dolan]

Doesn't change the fact that the very first person they picked to be President would be a billionaire in today's dollars, so wealth concentration was not their fear.

There are billionaires today, Kacper...who fear wealth concentration. So the wealthy founding fathers may very well have feared UNDUE wealth concentration...despite the fact that they chose George Washington, who would have been a billionaire in the early 21st century, to be their first president.

Jesus H. Christ...try to make sense.

You have presented zero evidence to support your SJW Revisionist History narrative.

I have also given zero evidence to support my revisionist quantum mechanics narrative, Kacper...

...and that is probably because I NEVER offered a SJW Revisionist History nor quantum mechanics narrative.

Jesus H. Christ. Please, please try to make sense once in a while.

Obviously it is because there isn't any.

PUHHHLLLLEEEEZZZZZ!

 

[canceled.2021.3]

I'm not sure I agree with your points. We already tax wealth (estate tax). If it is an indirect tax it does not have to be apportioned, we already have taxes that only apply to certain populations...I'm not sure about the relevance of the 14th Amendment because it only applies to state action.

The estate tax is not a wealth tax. It is treated as income as it is taxed at the level of the receiver not the person leaving the money

If the deceased paid the tax then you would be right

 

[Nordberg]

The estate tax is not a wealth tax. It is treated as income as it is taxed at the level of the receiver not the person leaving the money

If the deceased paid the tax then you would be right

When a tax kicks in at 5,6 million dollars it certainly is a wealth tax. It is only the extremely wealthy who have to pay it. 99.8 percent of people do not have to deal with it.

 

[Ross Dolan]

The estate tax is not a wealth tax. It is treated as income as it is taxed at the level of the receiver not the person leaving the money

If the deceased paid the tax then you would be right

You are so full of shit, it is amazing you can walk.

Money inherited IS NOT CONSIDERED INCOME.

The estate itself may pay some taxes...but the federal level is high.

 

[canceled.2021.3]

When a tax kicks in at 5,6 million dollars it certainly is a wealth tax. It is only the extremely wealthy who have to pay it. 99.8 percent of people do not have to deal with it.

The IRS would disagree with you

 

[canceled.2021.3]

It is interesting that we have the most progressive tax code in the world and even in the history of this country

Now leftardiots will it isn’t because of the top marginal rate but that is an incomplete way of looking at the tax code and only cherry picks one portion

Even when the top marginal rate was at its highest, even the lowest incomes were taxed at a pretty high rate. Leftardiots always seem to want to ignore that part of the 1950s tax code that they romanticize