Someone with $2B would need more than a 10% pretax return to have any after tax return under all* Warren’s taxes. (*I made assumptions, some cutting in each direction. See chart.)
Elizabeth Warren’s tax proposals would push federal rates on some billionaires and multimillionaires above 100% to finance social programs.
Absurd taxes do nothing more than encourage the ultra wealthy to evade. This is theft This policy may do wonders for crypto though
"Potential tax rates over 100% could result from the combination of tax increases the Massachusetts senator proposes for the very top tier of investors." via
On taxation sounds increasingly like a Third World despot from the 1970s.
Elizabeth Warren’s tax proposals would push federal rates on some billionaires and multimillionaires above 100% to finance social programs. via
Elizabeth Warren’s tax proposals would push federal rates on some billionaires and multimillionaires above 100% to finance social programs. via