The debate "Elizabeth Warrens wealth tax is a great idea" was started by
January 26, 2019, 8:42 am.
18 people are on the agree side of this discussion, while 12 people are on the disagree side.
It looks like most of the people in this community are on the agreeing side of this statement.
historybuff posted 3 arguments, Nemiroff posted 1 argument to the agreers part.
historybuff, Nemiroff, Dmoderate32, Debate_Wonder, SMNR and 13 visitors agree.
Jowana, MrShine, nativeRepublican and 9 visitors disagree.
if I may play devils advocate, the disagreements should be obvious. "tax is theft and every civilization in history was a socialist monstrosity"
Does anyone who disagrees have a reason why you disagree?
agreed. the existing system has had absurd loopholes built into it to benefit those who know how to find them and this very much needs to be addressed.
of course easier said then done. in the current divided government that will be impossible so I'm with Warren. I'm just laying out a more ideal vision, imo.
"Under the current tax system the wealthiest 0.1% pay, on average, 4.3% of their wealth in taxes. The bottom 99% of the population pay 7.2% of their wealth in taxes."
it should be noted that many at the very bottom of the 99% dont pay taxes which distorts the average. the middle class is shouldering the lions share of the burden.
I think the biggest injustice is amongst the wealthy. our default tax rate is huge and while some abuse the system and pay nothing, others end up paying well above the final average.
rather then new taxes, I think we should focus on eliminating loopholes as a source of raising funds. and make the tax system more equal on every bracket.
Elizabeth warren, a contender for the Democratic nomination, has proposed a wealth tax of 2% on households with more than $50 million and 3% on households with a billion or more.
This would only affect the richest 0.1% of the population, about 75,000 households. Estimates say this would raise 2.75 trillion over 10 years.
Why should the majority of the US taxes be drawn from the middle and lower classes? Why shouldn't the very richest have to contribute more for the good of the people and the nation? Under the current tax system the wealthiest 0.1% pay, on average, 4.3% of their wealth in taxes. The bottom 99% of the population pay 7.2% of their wealth in taxes.