To those who are saying “I just want to support someone who can win,” I hope you’ll look at this video. I respectfully submit that I’m the one who can.https://m.youtube.com/watch?v=gJcC_3aFhFc …
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Replying to @marwilliamson
I watched your video but I question your economic model significantly. We are in a global economy, your ideas don't account for capital flight. We will not have cash on hand with your policy.
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Replying to @TheyAdam
How do we not have cash if we repeal ‘17 $2T tax cut (gave $.83 of every $1 to richest individuals & corporations), put back in middle class cut, stop corp.subsidies, cut military spending to what they actually say they need, tax 3% on 1B assets and 2% on +50M? That’s lots of $.
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Replying to @marwilliamson
You are making significant assumptions based that the corporations will just stay in the United States when they get a tax increase. Rising US taxes sees significant capital flight. They move assets to Ireland and manufacturing out of the country. 1/
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Replying to @TheyAdam @marwilliamson
We have historical data on this for decades. We also have examples of this from even more recently if you look across the pond to EU nations. We have seen capital flight in France which ultimately puts more pressure on the working classes. The yellow vest protests still continue.
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Replying to @TheyAdam @marwilliamson
And lastly, wealth taxes dont work for a few reasons. 1) Wealth being tied up with non liquid assets. Jeff Bezos is the "richest" person in the world. But 95% of his wealth is tied up in Amazon stocks. It isn't liquid, taxes him 3% on basically his stock portfolio isn't a
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Replying to @TheyAdam @marwilliamson
An efficient or practical method. 2) Capital flight. If I have a 1BN in assets I can easily move it to another country and pay the US nothing. 3) They have already paid taxes on it. 4) It failed in France, Germany and Spain.
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They didn’t move in the 1950s, and the taxes were much higher then. Many more stay. Stop incentivizing companies leaving! Taxes should discourage capital flight, not encourage it.
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Replying to @marwilliamson
Your tax plan will GREATLY increase capital flight. Just like it did in Europe. And the 1950s economy was a regional economy still dealing with the effects of WW2 and the cold war not a global one. To think that they are similar is juvenile at best naively reckless at worse.
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