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View Diary: UPDATE: Wealth Tax -- Solve the Piketty Dilemma With Amendment XXVIII Intangible Property Tax (110 comments)

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  •  Also note that this Amendment goes after (1+ / 0-)
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    the American portion of the at-least $6-trillion that tax deadbeat billionaires have squirreled away in offshore tax havens:

    By means of a method he carefully describes, Zucman estimates that the world's wealthy are using tax havens, including Swiss banks, to hide at least $4.5 trillion but more likely $6 trillion from the tax collectors. Just to make it clear, that's $6,000,000,000,000—in the neighborhood of six percent of the entire world's gross economic output for one year. In other words, not chickenfeed.
    -- Meteor Blades
    The 2%-a-year Wealth Tax on billionaires should be extended to apply to wealth discovered in hidden caches. Or perhaps a 5%-a-year tax. Something punitive.

    Of course the Republican Party supports tax cheats and more than its share of Dominionists and child abusers. Expect no help there.

    "Stealing kids' lunch money makes them strong and independent." -- Ryan Paul von Koch

    by waterstreet2013 on Mon Apr 21, 2014 at 04:05:23 AM PDT

    [ Parent ]

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