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2020 Democratic Presidential Debate, Las Vegas, Thread 1

299
Belafon2/19/2020 8:46:29 pm PST

re: #296 Hecuba’s daughter

My continuing objection to the annual wealth tax is its enforceability. We cannot even get the IRS to investigate income taxes of the wealthy on a thorough basis— if they did their job, Trump would probably have been in prison 30 years ago.

For a wealth tax, it’s not as though you can just look at the balance of a stock portfolio at the end of the year. You have to evaluate other assets: artwork? collectibles? real estate? privately held companies? cars? boats? planes? etc.

Far more practical:
1. Repeal the 2017 tax law in its entirety
2. Increase estate taxes by adding additional brackets
3. Eliminate the carried interest loophole
4. Add brackets to income taxes.

All the IRS to keep part of the proceeds on any penalty collection over, say, $5M.