.@ScottAdamsSays It's an annual tax: "Households would pay an annual 2% tax on every dollar of net worth above $50 million and a 6% tax on every dollar of net worth above $1 billion."
https://elizabethwarren.com/plans/ultra-millionaire-tax …
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They tried this in France and all the rich people emmigrated.
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That's only part of the problem. Another part is that most of that "wealth" is in the form of capital investment. Force them to liquidate, and capital is taken out of the hands of people who have invested successfully, and set at random. No incentive to invest well.
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Perhaps now you understand why Wall Street has said they will boycott Warren if she is the nominee.
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