Current Events > YR: Biden announces a 100% net worth tax on net worth over $133 billion

Topic List	Page List: 1
Theon_Greyjoy 11/30/20 2:21:22 PM #1:	If your net worth goes over $133 billion, that all goes straight to Uncle Sam Would you support this tax policy? --- EndOfDiscOne <cite>Theon_Greyjoy posted [p:947769600] in YR: Biden ... [t:79144736]...</cite> <quote>If your net worth goes over $133 billion, that all goes straight to Uncle Sam Would you support this tax policy? </quote> ... Copied to Clipboard!
Alteres 11/30/20 2:22:14 PM #2:	how do you liquidate net worth without crashing companies? --- ........the ghost in the machine... IGN: Fox, FC: 5344-2646-0982 <cite>Alteres posted [p:947769645] in YR: Biden ... [t:79144736]...</cite> <quote>how do you liquidate net worth without crashing companies? </quote> ... Copied to Clipboard!
SquirtleSkwad 11/30/20 2:22:30 PM #3:	I bet this idea sounded smart when you typed it out. --- "If you cannot explain it simply, you do not understand it well enough."-Albert Einstein <cite>SquirtleSkwad posted [p:947769655] in YR: Biden ... [t:79144736]...</cite> <quote>I bet this idea sounded smart when you typed it out. </quote> ... Copied to Clipboard!
Theon_Greyjoy 11/30/20 2:22:41 PM #4:	Alteres posted... how do you liquidate net worth without crashing companies? Not my problem --- EndOfDiscOne <cite>Theon_Greyjoy posted [p:947769661] in YR: Biden ... [t:79144736]...</cite> <quote>Alteres posted... </cite> <quote>how do you liquidate net worth without crashing companies?</quote>Not my problem </quote> ... Copied to Clipboard!
Kaiganeer 11/30/20 2:23:15 PM #5:	are the nets made of solid gold or what <cite>Kaiganeer posted [p:947769685] in YR: Biden ... [t:79144736]...</cite> <quote>are the nets made of solid gold or what </quote> ... Copied to Clipboard!
TheMikh 11/30/20 2:23:34 PM #6:	biden should nationalize the central banks --- https://imgur.com/A0TAfek <cite>TheMikh posted [p:947769695] in YR: Biden ... [t:79144736]...</cite> <quote>biden should nationalize the central banks </quote> ... Copied to Clipboard!
Turbam 11/30/20 2:24:29 PM #7:	What does Uncle Sam do with the money? --- ~snip (V)_(;,;)_(V) snip~ I'm just one man! Whoa! Well, I'm a one man band! https://imgur.com/p9Xvjvs <cite>Turbam posted [p:947769723] in YR: Biden ... [t:79144736]...</cite> <quote>What does Uncle Sam do with the money? </quote> ... Copied to Clipboard!
Prismsblade 11/30/20 2:26:17 PM #8:	Theon_Greyjoy posted... Not my problem It is for everyone who uses their services. --- 3DS FC:3368-5403-9633 Name: Kaizer PSN: Blackkaizer <cite>Prismsblade posted [p:947769796] in YR: Biden ... [t:79144736]...</cite> <quote>Theon_Greyjoy posted... </cite> <quote>Not my problem</quote>It is for everyone who uses their services. </quote> ... Copied to Clipboard!
Pope_Francis_I 11/30/20 2:28:00 PM #9:	And so it begins <cite>Pope_Francis_I posted [p:947769859] in YR: Biden ... [t:79144736]...</cite> <quote>And so it begins </quote> ... Copied to Clipboard!
nemu 11/30/20 2:28:51 PM #10:	I assume he has had a stroke and have little worry because his staff people should be able to get him the best care. <cite>nemu posted [p:947769884] in YR: Biden ... [t:79144736]...</cite> <quote>I assume he has had a stroke and have little worry because his staff people should be able to get him the best care. </quote> ... Copied to Clipboard!
Neckhomachus 11/30/20 2:29:18 PM #11:	Should start it at a billi <cite>Neckhomachus posted [p:947769900] in YR: Biden ... [t:79144736]...</cite> <quote>Should start it at a billi </quote> ... Copied to Clipboard!
Endgame 11/30/20 2:31:19 PM #12:	Yeah..... no. Biden would obey every command from someone that makes that kind of money. Did Bernie Sanders replace and disguise himself as Biden? Because that would be awesome. --- I may not agree with what you have to say, but I will fight to the death for my right to fight you to the death. -Stephen Colbert <cite>Endgame posted [p:947769972] in YR: Biden ... [t:79144736]...</cite> <quote>Yeah..... no. Biden would obey every command from someone that makes that kind of money. Did Bernie Sanders replace and disguise himself as Biden? Because that would be awesome.</quote> ... Copied to Clipboard!
uwnim 11/30/20 2:50:37 PM #13:	That sounds rather bad. You dont want hard caps. Soft caps are fine, but hard caps are terrible. This would encourage these folks to figure out how to crash the economy(or rather the markets) for the duration of Bidens presidency. --- I want a pet Lavos Spawn. [Order of the Cetaceans: Phocoena dioptrica] <cite>uwnim posted [p:947770687] in YR: Biden ... [t:79144736]...</cite> <quote>That sounds rather bad. You dont want hard caps. Soft caps are fine, but hard caps are terrible. This would encourage these folks to figure out how to crash the economy(or rather the markets) for the duration of Bidens presidency. </quote> ... Copied to Clipboard!
uwnim 11/30/20 2:51:52 PM #14:	Alteres posted... how do you liquidate net worth without crashing companies? Dont liquidate and have the government accept payment in stocks and other such things. --- I want a pet Lavos Spawn. [Order of the Cetaceans: Phocoena dioptrica] <cite>uwnim posted [p:947770722] in YR: Biden ... [t:79144736]...</cite> <quote>Alteres posted... </cite> <quote>how do you liquidate net worth without crashing companies?</quote>Dont liquidate and have the government accept payment in stocks and other such things. </quote> ... Copied to Clipboard!
Tyranthraxus 11/30/20 2:53:57 PM #15:	So since my debt is part of my net worth does that mean my debt gets taxed if it's over $133 billion? --- It says right here in Matthew 16:4 "Jesus doth not need a giant Mecha." https://imgur.com/dQgC4kv <cite>Tyranthraxus posted [p:947770784] in YR: Biden ... [t:79144736]...</cite> <quote>So since my debt is part of my net worth does that mean my debt gets taxed if it's over $133 billion? </quote> ... Copied to Clipboard!
Alteres 11/30/20 2:54:02 PM #16:	uwnim posted... Dont liquidate and have the government accept payment in stocks and other such things. So the government ends up owning the companies? --- ........the ghost in the machine... IGN: Fox, FC: 5344-2646-0982 <cite>Alteres posted [p:947770788] in YR: Biden ... [t:79144736]...</cite> <quote>uwnim posted... </cite> <quote>Dont liquidate and have the government accept payment in stocks and other such things.</quote>So the government ends up owning the companies? </quote> ... Copied to Clipboard!
Theon_Greyjoy 11/30/20 2:57:01 PM #17:	Tyranthraxus posted... So since my debt is part of my net worth does that mean my debt gets taxed if it's over $133 billion? Not sure I understand the question. If your assets are worth $200 billion and your liabilities are $75 billion, your net worth is only $125 billion. --- EndOfDiscOne <cite>Theon_Greyjoy posted [p:947770876] in YR: Biden ... [t:79144736]...</cite> <quote>Tyranthraxus posted... </cite> <quote>So since my debt is part of my net worth does that mean my debt gets taxed if it's over $133 billion?</quote>Not sure I understand the question. If your assets are worth $200 billion and your liabilities are $75 billion, your net worth is only $125 billion. </quote> ... Copied to Clipboard!
uwnim 11/30/20 3:13:43 PM #18:	Alteres posted... So the government ends up owning the companies? Right --- I want a pet Lavos Spawn. [Order of the Cetaceans: Phocoena dioptrica] <cite>uwnim posted [p:947771425] in YR: Biden ... [t:79144736]...</cite> <quote>Alteres posted... </cite> <quote>So the government ends up owning the companies?</quote>Right </quote> ... Copied to Clipboard!
Tyranthraxus 11/30/20 3:39:32 PM #19:	Theon_Greyjoy posted... Not sure I understand the question. If your assets are worth $200 billion and your liabilities are $75 billion, your net worth is only $125 billion. Correct but what if I only had $50 billion debt. I have $150 billion net worth now. That means I have to pay $17 billion in tax according to you so what % of that is taxes on my debt? --- It says right here in Matthew 16:4 "Jesus doth not need a giant Mecha." https://imgur.com/dQgC4kv <cite>Tyranthraxus posted [p:947772323] in YR: Biden ... [t:79144736]...</cite> <quote>Theon_Greyjoy posted... </cite> <quote>Not sure I understand the question. If your assets are worth $200 billion and your liabilities are $75 billion, your net worth is only $125 billion.</quote> Correct but what if I only had $50 billion debt. I have $150 billion net worth now. That means I have to pay $17 billion in tax according to you so what % of that is taxes on my debt? </quote> ... Copied to Clipboard!
Balrog0 11/30/20 3:44:11 PM #20:	I assume it would just make billionaires spend more quickly? Not really sure? Maybe they'd hire more? They're almost definitely not just taking the tax hit --- https://blackmalevoterproject.org/ <cite>Balrog0 posted [p:947772476] in YR: Biden ... [t:79144736]...</cite> <quote>I assume it would just make billionaires spend more quickly? Not really sure? Maybe they'd hire more? They're almost definitely not just taking the tax hit </quote> ... Copied to Clipboard!
Tyranthraxus 11/30/20 3:45:26 PM #21:	Also who appraises the net worth? The US Government can't really just send IRS agents to Ireland to look at Trump's golf course. --- It says right here in Matthew 16:4 "Jesus doth not need a giant Mecha." https://imgur.com/dQgC4kv <cite>Tyranthraxus posted [p:947772514] in YR: Biden ... [t:79144736]...</cite> <quote>Also who appraises the net worth? The US Government can't really just send IRS agents to Ireland to look at Trump's golf course. </quote> ... Copied to Clipboard!
Balrog0 11/30/20 3:47:37 PM #22:	Tyranthraxus posted... Also who appraises the net worth? The US Government can't really just send IRS agents to Ireland to look at Trump's golf course. this isn't the same proposal obviously but the most common wealth tax ideas come from Saez and Zucman, they recommend requiring banks to report assets to the government directly (bypassing issues with self-reporting) that only partially answers your question --- https://blackmalevoterproject.org/ <cite>Balrog0 posted [p:947772597] in YR: Biden ... [t:79144736]...</cite> <quote>Tyranthraxus posted... </cite> <quote>Also who appraises the net worth? The US Government can't really just send IRS agents to Ireland to look at Trump's golf course.</quote> this isn't the same proposal obviously but the most common wealth tax ideas come from Saez and Zucman, they recommend requiring banks to report assets to the government directly (bypassing issues with self-reporting) that only partially answers your question </quote> ... Copied to Clipboard!
Theon_Greyjoy 11/30/20 4:37:59 PM #23:	Tyranthraxus posted... Correct but what if I only had $50 billion debt. I have $150 billion net worth now. That means I have to pay $17 billion in tax according to you so what % of that is taxes on my debt? I would say you don't pay any taxes on your debt, in the same way that you don't pay income taxes on deductions. --- EndOfDiscOne <cite>Theon_Greyjoy posted [p:947774257] in YR: Biden ... [t:79144736]...</cite> <quote>Tyranthraxus posted... </cite> <quote>Correct but what if I only had $50 billion debt. I have $150 billion net worth now. That means I have to pay $17 billion in tax according to you so what % of that is taxes on my debt?</quote>I would say you don't pay any taxes on your debt, in the same way that you don't pay income taxes on deductions. </quote> ... Copied to Clipboard!
#24	Post #24 was unavailable or deleted.
Tyranthraxus 11/30/20 4:40:27 PM #25:	Theon_Greyjoy posted... I would say you don't pay any taxes on your debt, in the same way that you don't pay income taxes on deductions. Why not taxes on debt? https://en.wikipedia.org/wiki/Negative_income_tax What's wrong with lowering my debt at the same time as I lower my net worth? --- It says right here in Matthew 16:4 "Jesus doth not need a giant Mecha." https://imgur.com/dQgC4kv <cite>Tyranthraxus posted [p:947774358] in YR: Biden ... [t:79144736]...</cite> <quote>Theon_Greyjoy posted... </cite> <quote>I would say you don't pay any taxes on your debt, in the same way that you don't pay income taxes on deductions.</quote> Why not taxes on debt? https://en.wikipedia.org/wiki/Negative_income_tax What's wrong with lowering my debt at the same time as I lower my net worth? </quote> ... Copied to Clipboard!
WilliamPorygon 11/30/20 4:44:28 PM #26:	Yeah, as much as I'm for making the rich pay more taxes, I'm not for totally overdoing it like this plan does. --- Dolphins are people too! https://www.gamefaqs.com/boards/1404-cetacea-cove <cite>WilliamPorygon posted [p:947774506] in YR: Biden ... [t:79144736]...</cite> <quote>Yeah, as much as I'm for making the rich pay more taxes, I'm not for totally overdoing it like this plan does. </quote> ... Copied to Clipboard!
Topic List	Page List: 1

Current Events > YR: Biden announces a 100% net worth tax on net worth over $133 billion (+) Yeah! (+)

Current Events > YR: Biden announces a 100% net worth tax on net worth over $133 billion