Whoever wrote this
he is not saying taxing the rich won’t work. He’s saying using a wealth tax won’t work but a VAT will and has been proven to work. Stop reaching.
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Yang is for taxing the rich effectively, which is through increasing the capital gains rate to equal earned income rates. That would bring in hundreds of billions. Can also increase the top marginal rate back to 39%, which is still historically low relative to the 20th century.
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No, he says a wealth tax won’t work. Huge difference.
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Ladies and gentlemen, once again Yang is CORRECT!
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Whoa misread.
@AndrewYang is saying that the wealth tax is a bad way to tax the rich for many reasons, a better way is to use a VAT. It’s way more efficient and harder for the rich to avoid. Getting around the wealth tax could be as simple as getting a legal divorce, or moving.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Very misleading, he didnt say that taxing the rich wont work. He said that a wealth tax wouldnt be the way to do it
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The VAT has literally worked in every country its been implemented in. 166 countries have a VAT.
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