Jeff Bezos would pay more than $5bn a year under Warren’s new tax plan

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Worst solution to tackle the income equality problem. There have been many failed implementations in Europe, and taking 5B of Amazon every year is only going crash the stock market. How about adding luxury taxes, stronger progressive taxes like Europe, increased capital gains tax (so when he does sell his shares, it’s taxed at 50%), and increased property taxes for the housing issue. Instead of tackling the real issue, they want to show off these populist moves for their voter base. Look how bad the housing issue is in SF due to “progressive” policies. Edit: AOC, Warren and Trump are same breed, different color of creating perverse unfair incentives for their political base further dividing America. What happened to moderatism and common sense policies.

Philip-was-here

Wealth taxes are failed policies. I can play the valuation game easily. Go after the capital gains and non ordinary income. That’s where billionaires are created. Crazy how people are not understanding this. Can’t tell if it’s ignorance or political agenda.

Southport84

No he wouldn’t… He would live in the Bahamas tomorrow.

jesus_slept

Yes and a wealth tax would wreck US financial markets and everyone’s 401ks due to mass sell offs. Just like in every other market every time they’ve been tried. UK labor thought of doing a wealth tax but “it barely brought in any revenue when you account for the cost of enforcement”. Ie if you’re want government handouts a wealth tax isn’t the way to do it. **how Europe does it** is flatter income taxes and VAT.

thisispoopoopeepee

By stealing ownership of the company he started. So who cares? It’s a completely immoral tax. It’s also largely ineffective and virtually impossible to implement fairly. France has tried it twice. Most that have eventually kill it.

hardsoft