Jeff Bezos Would Owe $5.7 Billion In Taxes for 2020 under Elizabeth Warren's "Ultra-Millionaire" Tax Plan, Claims CNBC

This can't possibly be right?

Can it?

Josh Caplan @joshdcaplan

CNBC: Bezos would owe $5.7 billion in taxes for 2020 under Ultra-Millionaire Tax Act

Look, I'm in favor of this.

Why it matters: The plan, which Warren introduced along with Reps. Pramila Jayapal (D-Wash.) and Brendan Boyle (D-Pa.) is similar to a proposal that was the centerpiece of Warren's campaign for the presidency in 2020.

Warren, a new member of the Senate Finance Committee, has long sought a tax increase on millionaires and billionaires in the U.S.

By the numbers: The bill would levy a 2% tax for people with a net worth between $50 million and $1 billion. Taxpayers with assets worth over $1 billion would be subject to a 3% tax.

The tax would not apply to people whose net worth is below $50 million.

The bill's sponsors estimate that it would raise $2.75 trillion in tax revenue over a ten-year period.

For me, this isn't about "fairness" or even raising revenue.

It's about survival.

If billionaires are going to use their money to take away my political voice, I will use my political voice to take away their money.

Jeff Bezos, Bill Gates, and Mark Zuckerberg can get their tax protection from the Democrats they spend hundreds of millions of dollars to put into office.

As far as I'm concerned, the Republican Tax Protection Store is closed. For good.

I'd also like to slap an 80% surtax on any profits made by trade with China.

Because: Fuck You. War.

posted by Ace at 04:10 PM

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