A billionaire I know once told me “My taxes are so low it’s obscene.” There should be a #WealthTax of 2% on assets over $50M & and an additional 1% on assets over $1B. Our government’s groveling at the feet of the ultra rich is the surrender of our democracy to oligarchic rule.

Jul 5, 2021 · 6:39 AM UTC

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Replying to @marwilliamson
Your friend could have just spent his own money to bomb Iraq and cut out the middle man.
Replying to @marwilliamson
“You add a 3% tax on the assets of billionaires and 2% on the assets of 50 million and more-and guess what-we’re going to have some cash on hand.” Marianne Williamson #WealthTax
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Replying to @marwilliamson
The problem is what "our" government does with what we give them in taxes. Hint: it's not generally what we would want.
Replying to @marwilliamson
We can write a bill for that. Sadly @TheDemocrats will vote it like this, siding with the @GOP lile they always do:
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Replying to @marwilliamson
And yet Marianne told you all to vote for someone who has expressed ZERO interest in raising taxes on the rich. 🤷🏽‍♀️
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Replying to @marwilliamson
If we just went back to the original concept for an income tax passed in 1913, adjusted it for inflation, and eliminated deductions for incomes over $500K, then billionaires would be paying 25% and anyone under that threshold no more than 3%, if they even had to file at all.
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Replying to @marwilliamson
And they’re now beholden to Big Tech and the CCP. It’s also about regulations.
What if, get this, rich people were taxed at the rates the rest of us pay and the poor were taxed at 1-2%?
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Replying to @marwilliamson
As a real estate appraiser, I can tell you that “wealth” is very difficult to quantify accurately. The IRS will spend all it’s time in court. What is needed here is a SIMPLE enforceable and highly progressive INCOME tax, and a very high transaction tax on luxury real estate.
If there were to be a wealth tax it should be more than 2% if the goal is to decrease inequality. @TheDemocrats should get off the "pay their fair share" narrative and start passing bills that save the planet and eliminate poverty/homelessness/unemployment. #MMT
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