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Bernie's statement "billionaires should not exist" can signal one of two intentions vis a vis existing billionaires. The more charitable involves taking their money away but it is fair to say the other one was more widely practiced by the commies.

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Metoo said:

Bernie's statement "billionaires should not exist" can signal one of two intentions vis a vis existing billionaires. The more charitable involves taking their money away but it is fair to say the other one was more widely practiced by the commies.

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Enlil said:

How can you be so poor at understanding English?  The word "should" clearly indicates his opinion that the economy is flawed in a way that allows billionaires to exist.  He never said anything about taking away anyone's money or life to rectify the problem.

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This tax on extreme wealth would have a progressive rate structure that would only apply to the wealthiest 180,000 households in America who are in the top 0.1 percent.

It would start with a 1 percent tax on net worth above $32 million for a married couple. That means a married couple with $32.5 million would pay a wealth tax of just $5,000.

The tax rate would increase to 2 percent on net worth from $50 to $250 million, 3 percent from $250 to $500 million, 4 percent from $500 million to $1 billion, 5 percent from $1 to $2.5 billion, 6 percent from $2.5 to $5 billion, 7 percent from $5 to $10 billion, and 8 percent on wealth over $10 billion. These brackets are halved for singles.

Under this plan, the wealth of billionaires would be cut in half over 15 years which would substantially break up the concentration of wealth and power of this small privileged class.

Under current law, the IRS is already required to assess the net worth of the wealthiest Americans when they pass away, to calculate estate tax liability. A federal wealth tax would require the IRS to make the same assessment on an annual basis for the wealthiest Americans. Steps would also be taken to streamline the process for purposes of the wealth tax.

For assets that are difficult to appraise, the Treasury Department would have the option of allowing taxpayers to have appraisals done periodically instead of annually. The Treasury Department would establish the average rates of appreciation for several classes of assets. Those appraised only every few years would be assumed to appreciate in the intervening years at the average rate established for their designated class.

Assets placed in a trust would be treated as owned by the grantor of the trust (by the person giving assets to the trust) until that person’s death.

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ballsalsa said:

With an annual wealth tax.
https://berniesanders.com/issues/tax-extreme-wealth/

Quote:

This tax on extreme wealth would have a progressive rate structure that would only apply to the wealthiest 180,000 households in America who are in the top 0.1 percent.

It would start with a 1 percent tax on net worth above $32 million for a married couple. That means a married couple with $32.5 million would pay a wealth tax of just $5,000.

The tax rate would increase to 2 percent on net worth from $50 to $250 million, 3 percent from $250 to $500 million, 4 percent from $500 million to $1 billion, 5 percent from $1 to $2.5 billion, 6 percent from $2.5 to $5 billion, 7 percent from $5 to $10 billion, and 8 percent on wealth over $10 billion. These brackets are halved for singles.

Under this plan, the wealth of billionaires would be cut in half over 15 years which would substantially break up the concentration of wealth and power of this small privileged class.

Under current law, the IRS is already required to assess the net worth of the wealthiest Americans when they pass away, to calculate estate tax liability. A federal wealth tax would require the IRS to make the same assessment on an annual basis for the wealthiest Americans. Steps would also be taken to streamline the process for purposes of the wealth tax.

For assets that are difficult to appraise, the Treasury Department would have the option of allowing taxpayers to have appraisals done periodically instead of annually. The Treasury Department would establish the average rates of appreciation for several classes of assets. Those appraised only every few years would be assumed to appreciate in the intervening years at the average rate established for their designated class.

Assets placed in a trust would be treated as owned by the grantor of the trust (by the person giving assets to the trust) until that person’s death.

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Metoo said:

How can you be so poor at understanding history not to see that those who declare going after the wealth of others as their goal end up wrecking the country and making life hell for everyone?

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christopera said:

Let's see a few examples that prove your scary stories.

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Metoo said:

You are correct - if taxing this year's income does not make billionaires not exist more radical measures may have to be implemented. Historically totalitarian left starts with a program emphasising "fairness" and "social justice". When they take over power and economy tanks they start looking for "enemies of the people" within and the bloodbath starts...

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Quote:

1014 (Aug. 30, 1935), raised federal income tax on higher income levels, by introducing the "Wealth Tax". It was a progressive tax that took up to 75 percent of the highest incomes (over $1 million per year.).

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https://en.m.wikipedia.org/wiki/Revenue_Act_of_1935

Metoo said:

Enlil said:

How can you be so poor at understanding English?  The word "should" clearly indicates his opinion that the economy is flawed in a way that allows billionaires to exist.  He never said anything about taking away anyone's money or life to rectify the problem.

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How can you be so poor at understanding history not to see that those who declare going after the wealth of others as their goal end up wrecking the country and making life hell for everyone?

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Metoo said:

christopera said:

Let's see a few examples that prove your scary stories.

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Great idea! You can start here:
https://www.washingtonpost.com/news/volokh-conspiracy/wp/2017/11/07/lessons-from-a-century-of-communism/

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feldman114 said:

Yess, Bernie will murder 600 people.

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Metoo said:

How can you be so poor at understanding history not to see that those who declare going after the wealth of others as their goal end up wrecking the country and making life hell for everyone?

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qman said:

Yep, The Elite have done exactly what you describe to the working class the past 50 years.

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Enlil said:

Where did he say he was communist?  You're just making shit up, dude.

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Metoo said:

feldman114 said:

Yess, Bernie will murder 600 people.

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Communist ideologues usually delegate the dirty work. Che Guevara was an exception - he apparently enjoyed personally shooting the guys he sentenced to death without trial. Even Dzerzhinsky enjoyed watching the executions but did not kill himself. Here is his program:

"We stand for organized terror - this should be frankly admitted," said Dzerzhinsky in a chilling quote in 1918. "Terror is an absolute necessity during times of revolution. Our aim is to fight against the enemies of the Soviet Government and of the new order of life. We judge quickly. In most cases only a day passes between the apprehension of the criminal and his sentence. When confronted with evidence criminals in almost every case confess; and what argument can have greater weight than a criminal's own confession."

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Metoo said:

Some more juicy quotes from the leading Russian communists:

Do not look in the file of incriminating evidence to see whether or not the accused rose up against the Soviets with arms or words. Ask him instead to which class he belongs, what is his background, his education, his profession. These are the questions that will determine the fate of the accused. That is the meaning and essence of the Red Terror.

— Martin Latsis

To overcome our enemies we must have our own socialist militarism. We must carry along with us 90 million out of the 100 million of Soviet Russia's population. As for the rest, we have nothing to say to them. They must be annihilated.

— Grigory Zinoviev

"Comrades! The insurrection of five kulak districts should be pitilessly suppressed. The interests of the whole revolution require this because 'the last decisive battle' with the kulaks is now under way everywhere. An example must be demonstrated.

Hang (absolutely hang, in full view of the people) no fewer than one hundred known kulaks, filthy rich men, bloodsuckers.
Publish their names.
Seize all grain from them.
Designate hostages - in accordance with yesterday's telegram.
Do it in such a fashion, that for hundreds of verst around the people see, tremble, know, shout: "strangling (is done) and will continue for the bloodsucking kulaks".

Telegraph the receipt and the implementation. Yours, Lenin.

P.S. Use your toughest people for this."

- Lenin

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