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Elizabeth Warren, Other Progressives Propose ‘Ultra-Millionaire’ Tax – What makes her think this will be a hard sell? ?

Article: https://currently.att.yahoo.com/finance/news/eliza...

Give me 5 or 10 seconds and I’ll convince millions of deplorables this is an acceptable idea. This isn’t about private practice doctors being worth more than factory workers who are worth more than those bagging burgers. This is about health care conglomerates, monopolistic corporations and all the Ronald McDonald Duck’s in the country. 

Defining wealth and the responsibility that accompanies it is relative. When wealth was based on individual abilities and stamina, there was little separation between wealth and poor eons ago. Today’s mega wealth results from the concept of scale or the ability to market vast quantity, thus billions of phones equal billions of dollars and millions of jersey sales equals rich athletes. Without the ability to market at scale no one would be worth tens of billions of dollars. 

Yes, there should be a cost for access to the vast market progress has created to pay for the issues and problems arising from a vast marketplace. Problems like poor unable to afford phones/computers/Internet access in a world where those products and services are essential to everyday life. Just because someone is able to afford a phone/computer/Internet access hardly indicates he has the means to pay for someone else’s. A 2% or 3% uber-wealth tax is not too much to ask of those making 10/20/50 times average wages or more.

Update:

WARNING!!! It won’t take long before Congress figures out how to spend all of this and want to tax the rich even more. That seems to be the mission for some in Congress. Make a special note of that Ms. Warren. It is possible to kill the Golden Goose of inspiration/innovation/motivation. What was the last big, new, shiny invention coming out of Russia? Anyone remember?

3 Answers

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  • Archer
    Lv 7
    2 months ago
    Favorite Answer

    Lets look at her assets and tax returns as well as all those who are pushing to tax the wealthy. OOPS they only want to tax the "Super Rich" which they are just short of qualifying as.

  • Anonymous
    2 months ago

    It's been tried before. FDR & Eisenhower had very high tax rates on the rich. It didn't work. Not even a little. No one paid. Why? Because, laws can't be retroactive. The rich are just grandfathered in. "Make the Rich Pay" doesn't happen. Who do you think gives politicians money to run for office?

  • Sally
    Lv 7
    2 months ago

    Because the Republicans are 100% against it.

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