2% tax on assets over $50M and an additional 1% on assets over $1B. They’d be the first to tell you that they’ll never even feel it. #WealthTax
Pramila Jayapal @PramilaJayapal
30 Mar 2021
Jeff Bezos and Elon Musk have more wealth than the bottom 40% of Americans — COMBINED. We need a wealth tax.

Mar 30, 2021 · 5:51 AM UTC

24
61
4
409
Replying to @marwilliamson
Tax the hell out of them so they have to shut down their foundations. That'll teach em.
2
Replying to @marwilliamson
I truly believe you are well intentioned and we share many underlying moral principles. But Bezos & Musk dont have tens of Bil in CASH. 1% of 70 billion is 700 Mil. You would be forcing them to sell stocks or take out loans to pay that. Net worths go up & down with company value.
2
Replying to @marwilliamson
The flaw in this logic is those that are considered ultra wealthy mostly have their “wealth” in stocks and not in actual assets.
3
1
Replying to @marwilliamson
Needs to be on net assets, you can own a 50m property with 49m debt on it with now where to get 2% in cash.
1
Replying to @marwilliamson
Trump's tax cuts for the rich need to be cut ... plus ... as you say ... we need a Wealth Tax on Millionaires and Billionaires.
1
Replying to @marwilliamson
The system creates harmful leaches.
Replying to @marwilliamson
YES!!!!
1
Replying to @marwilliamson
I think a windfall tax is appropriate for people and companies whose wealth increased by $50 million or more during the pandemic.
Replying to @marwilliamson
You own your company. Every year you have to sell 2% of your company because its perceived value (not just its revenue) is being taxed. Math problem: how many years does it take to lose majority ownership of your own company?
2
Replying to @marwilliamson
Make it 20%, and you’ve got yourself a deal! 👍
Load more