Day after debate, Warren buys ad in Adelson's paper, saying he will pay $2.3 billion in taxes

[fleur-de-lisa]

Jon Ralston @RalstonReports

The day after the debate, Elizabeth Warren bought a full page ad in Sheldon Adelson’s newspaper saying Sheldon Adelson will pay $2.3 billion the first year of her wealth tax. I think that’s called chutzpah.

Link to tweet

[Qutzupalotl]

1. As long as people understand their taxes won't go up too, great.

But the ad calls a $2.3B tax “small” — which will make people want to ask, what does she consider large?

As I read it, I’m thinking, one billionaire only helps a few thousand families in Nevada. But for how long? Do we have enough millionaires and billionaires to pay for national programs?

A wealth tax is a one-time seizure. To fund these on an ongoing basis, we’ll also need to drastically change the income tax rates. I’d rather see the ad include that, and show the math.

All that said, I still like Warren a lot.

[cannabis_flower]

2. It's a small percentage

Of his wealth.

[Qutzupalotl]

3. The ad says it's nearly 6 perccent,

which billionaires can afford; but it makes people think their taxes could go up by a similar amount if the funding is insufficient for her goals.

The fact that she’s soaking the rich now gives the impression she’s capable of soaking the middle class in the future, which is not what she’s proposing. So I think that needs to be made more explicit.

[cannabis_flower]

4. You're right

Last I heard I thought she was proposing 2%. Six percent is quite a chunk.

[totodeinhere]

5. Poor baby. That will leave him only five billion left over.

I don't know if he would be able to survive on that or not. LOL.