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Jeff Bezos would pay nearly $7 billion To Elizabeth Warren's Medicare-For-All Tax Rate Topic: -----

#1 User is offline   Liz 

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  Posted 02 November 2019 - 12:27 AM

Jeff Bezos would pay nearly $7 billion To Elizabeth Warren's Medicare-For-All Tax

The Week
November 1, 2019

[Too short to excerpt]

Sen. Elizabeth Warren (D-Mass.) has a plan for taking Jeff Bezos' money.

The 2020 candidate unveiled her proposal Friday to pay for her estimated $34 trillion Medicare-for-all plan without upping taxes on the middle class. It relies on a big chunk of change from the country's biggest earners, and would end up costing the Amazon founder nearly $7 billion.

To raise the tremendous sum needed to provide universal health care, Warren laid out a $20.5 trillion tax package that she says targets "the financial sector, large corporations, and the top 1 percent." Bezos falls at the very top of that last category, and he'd be subject to Warren's wealth tax that was upped in this plan from two percent to six percent. And six percent of Bezos' $111.7 billion net worth? That's about $6.7 billion.

Joining Bezos at the top of the pile is Bill Gates, who would put in around $6.4 billion, and Warren Buffett, who'd contribute closer to $5 billion. Bezos' company would also end up paying heftier taxes, though it won't have to worry about providing employees with health care anymore. Kathryn Krawczyk

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#2 User is offline   Howsithangin 

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Posted 02 November 2019 - 03:48 AM

Wow! that's like 2 year's tuition at the rates she teaches!
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#3 User is online   zurg 

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Posted 02 November 2019 - 07:32 AM

Numbers are thrown around everywhere about Warren’s plan. I don’t know what this $34T number is, yesterday it was said it’s $52T over 10 years. That’s $5.2T per year.

US GDP is about $19T. US total tax revenue is about $3T. So Warren is proposing to increase tax collection by about 75%. About $2.2T more every year, forever, and increasing. Y’all think that’s gonna pass? Any leftist here think it’s remotely possible? If not, why does Warren? Defend her, you leftists, since you’re gonna vote for her.

Finally, the Bozos of the world will fight having to pay $7B (or 6%). They’ll find a way to get around it. But even if he did pay, $7B out of $2.2T (or $2,200B) is 0.3%. According to various sources, there are about 50 people worth more than $10B. And about 550 worth $1-10B. Altogether their combined wealth is about $5T. You’d have to confiscate half their wealth to pay for one year of Warren’s plan and you’d be done, having killed the golden goose. If you take 6% (which they’ll fight anyway), you’ll get about $300B or about 14% of the target amount.

How about the remaining $1.9T? Where’s that gonna come from? Leftists: that’s gonna come from the middle class. Cause that’s the only place any significant amount of money comes from. And before you say “corporations”, they’ll just pass the bill to the consumers, the majority of whom are middle class.

Bottom line to you idiot leftists is that it’s impossible to collect the amount of tax y’all are going to happily vote for because you hate Trump, even though he’s giving you record unemployment and opportunity. With a good economy and a good structure, people can pay for their own health insurance! Or choose not to, if they so wish and pay out of pocket when they have to. Any life threatening stuff is cared for by ERs anyway. It really sucks that you leftists are such idiots.

This post has been edited by zurg: 02 November 2019 - 07:36 AM

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#4 User is offline   Natural Selection 

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Posted 02 November 2019 - 09:44 AM

All these success-envious leftists think alike.

"I do think at a certain point you've made enough money" -Obama


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#5 User is offline   Bookdoc 

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Posted 02 November 2019 - 09:00 PM

View PostNatural Selection, on 02 November 2019 - 09:44 AM, said:

All these success-envious leftists think alike.

"I do think at a certain point you've made enough money" -Obama



Except, of course, obozo and mike...
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#6 User is online   zurg 

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Posted 03 November 2019 - 09:55 AM

Shoot, I misunderstood Warren’s statement. That $52T over 10 years is JUST for the health insurance part!

Geez, it’s way worse than I originally thought. Instead of needing 75% more tax collections, her plan needs to increase taxes by 185%.

Bezos wealth and all the billionaires’ wealth is such a small drop in the bucket it’s not even funny. Warren’s claims on this being doable rank 185 Pinocchios on a scale of 0 to 3.
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#7 User is online   erp 

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Posted 03 November 2019 - 10:14 AM

 zurg, on 02 November 2019 - 07:32 AM, said:

Numbers are thrown around everywhere about Warren’s plan. I don’t know what this $34T number is, yesterday it was said it’s $52T over 10 years. That’s $5.2T per year.

US GDP is about $19T. US total tax revenue is about $3T. So Warren is proposing to increase tax collection by about 75%. About $2.2T more every year, forever, and increasing. Y’all think that’s gonna pass? Any leftist here think it’s remotely possible? If not, why does Warren? Defend her, you leftists, since you’re gonna vote for her.

Finally, the Bozos of the world will fight having to pay $7B (or 6%). They’ll find a way to get around it. But even if he did pay, $7B out of $2.2T (or $2,200B) is 0.3%. According to various sources, there are about 50 people worth more than $10B. And about 550 worth $1-10B. Altogether their combined wealth is about $5T. You’d have to confiscate half their wealth to pay for one year of Warren’s plan and you’d be done, having killed the golden goose. If you take 6% (which they’ll fight anyway), you’ll get about $300B or about 14% of the target amount.

How about the remaining $1.9T? Where’s that gonna come from? Leftists: that’s gonna come from the middle class. Cause that’s the only place any significant amount of money comes from. And before you say “corporations”, they’ll just pass the bill to the consumers, the majority of whom are middle class.

Bottom line to you idiot leftists is that it’s impossible to collect the amount of tax y’all are going to happily vote for because you hate Trump, even though he’s giving you record unemployment and opportunity. With a good economy and a good structure, people can pay for their own health insurance! Or choose not to, if they so wish and pay out of pocket when they have to. Any life threatening stuff is cared for by ERs anyway. It really sucks that you leftists are such idiots.

Lost on these idiots is that Bezo’s wealth is tied to stock in his company. They act as if he has all this cash just lying around doing nothing.

The people that support her are complete morons.
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#8 User is offline   MTP Reggie 

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Posted 03 November 2019 - 10:22 AM

 erp, on 03 November 2019 - 10:14 AM, said:

The people that support her are complete morons.


That's an insult to morons everywhere.
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