The Democrat Utopia

[BigRedBuster]

25 minutes ago, Archy1221 said:

Yes, we have compassion programs.  Is that news to anyone?  

Lol....you didn’t understand the question. 

[nic]

11 hours ago, BigRedBuster said:

 

Exhibit B, we have someone who believes Corona Virus is a man made bio weapon because God would never create a virus that kills people.

Do you think that there is a possibility the virus leaked from the lab in Wuhan?

[Archy1221]

1 hour ago, BigRedBuster said:

Lol....you didn’t understand the question. 

I must not have. I don’t see the US as a socialist country just because we have a few programs that take care of the poor and indigent.  It’s the Wealth from our modified Capitalistic society that allows us to.  

[funhusker]

7 hours ago, Archy1221 said:

BTW…why are you copying my posts without giving the original poster credit for the content?  

It was high quality content, wasn’t it 

[BigRedBuster]

7 hours ago, Archy1221 said:

I must not have. I don’t see the US as a socialist country just because we have a few programs that take care of the poor and indigent.  It’s the Wealth from our modified Capitalistic society that allows us to.  

LOL....you need to read better. 

[Archy1221]

4 hours ago, funhusker said:

It was high quality content, wasn’t it 

Yea, that’s why I wanted the credit or at least a byline

[Archy1221]

I wonder if these Democrat proponents of a wealth tax understand what mass forced selling of stock would do to the market in that period of time.  It’s not like these super wealthy people have tens of millions or hundreds of millions of cash just sitting around.  Am I seeing things wrong here or missing some way people can get more liquid without harming others not affected by the proposed tax?

 

https://thehill.com/policy/finance/558263-exclusive-democrat-exploring-patriot-tax-on-multimillionaires-wealth

[RedDenver]

4 minutes ago, Archy1221 said:

I wonder if these Democrat proponents of a wealth tax understand what mass forced selling of stock would do to the market in that period of time.  It’s not like these super wealthy people have tens of millions or hundreds of millions of cash just sitting around.  Am I seeing things wrong here or missing some way people can get more liquid without harming others not affected by the proposed tax?

 

https://thehill.com/policy/finance/558263-exclusive-democrat-exploring-patriot-tax-on-multimillionaires-wealth

Oh no, they might have to sell off a tiny fraction of their enormous wealth. The sky is falling for sure.

[Archy1221]

6 minutes ago, RedDenver said:

Oh no, they might have to sell off a tiny fraction of their enormous wealth. The sky is falling for sure.

You seem to have missed the point or don’t understand the stock market. 

[RedDenver]

7 minutes ago, Archy1221 said:

You seem to have missed the point or don’t understand the stock market. 

Yeah, must be me that doesn't understand.

[Archy1221]

20 minutes ago, RedDenver said:

Yeah, must be me that doesn't understand.

If you have more sellers than buyers the asset goes down.  If people are forced to sell when they normally wouldn’t, the price artificially falls to an even greater extent.  This also affects those holders of the same type of asset who wouldn’t have to force sell because of the wealth tax.  

It could give them the idea to sell knowing the asset price will fall which would put further sell pressure on that asset.  
Like I said in my original post that you couldn’t resist replying to with stupid snark, is this something we won’t have to worry about and if not why?  Because it seems to me that a lot of stocks will be sold without those same people buying after their sell in a relatively short timespan to pay the wealth tax

[RedDenver]

13 minutes ago, Archy1221 said:

If you have more sellers than buyers the asset goes down.  If people are forced to sell when they normally wouldn’t, the price artificially falls to an even greater extent.  This also affects those holders of the same type of asset who wouldn’t have to force sell because of the wealth tax.  

It could give them the idea to sell knowing the asset price will fall which would put further sell pressure on that asset.  
Like I said in my original post that you couldn’t resist replying to with stupid snark, is this something we won’t have to worry about and if not why?  Because it seems to me that a lot of stocks will be sold without those same people buying after their sell in a relatively short timespan to pay the wealth tax

Having to sell a tiny amount of their shares in order to pay taxes isn't going to have some dramatic effect on the stock market. And yes, they could sell all of their shares at the same time, but they could also do it over time since it's not a mystery that they'll owe at the end of the year. And if we're really concerned about that, then we could write the law to allow the wealthy to use their stock as payment for this particular tax and the fed government could sell those shares over the course of the next year (or over 3 years or 5 years or whatever).

[BigRedBuster]

2 hours ago, Archy1221 said:

I wonder if these Democrat proponents of a wealth tax understand what mass forced selling of stock would do to the market in that period of time.  It’s not like these super wealthy people have tens of millions or hundreds of millions of cash just sitting around.  Am I seeing things wrong here or missing some way people can get more liquid without harming others not affected by the proposed tax?

 

https://thehill.com/policy/finance/558263-exclusive-democrat-exploring-patriot-tax-on-multimillionaires-wealth

Yeah, this is an issue I have with the wealth tax.

 

Then, put this in the situation where the wealth isn't in a publicly traded company.  So, you're forcing someone to sell part of their privately held company simply because they have paper wealth.

There's quite a few bad issues with that.

[RedDenver]

29 minutes ago, BigRedBuster said:

Yeah, this is an issue I have with the wealth tax.

 

Then, put this in the situation where the wealth isn't in a publicly traded company.  So, you're forcing someone to sell part of their privately held company simply because they have paper wealth.

There's quite a few bad issues with that.

I agree there are undesirable parts of a wealth tax, but the question isn't whether they have no down sides, but rather if they are worth it to society. So what are the bad issues and how bad are they really?

[deedsker]

34 minutes ago, BigRedBuster said:

Yeah, this is an issue I have with the wealth tax.

 

Then, put this in the situation where the wealth isn't in a publicly traded company.  So, you're forcing someone to sell part of their privately held company simply because they have paper wealth.

There's quite a few bad issues with that.

I agree to an extent, but the quoted article is asking for nothing of people valued at $50 million or less. For anyone under $100 million, it would be <1.25% tax which isn't hard to get out of your wealth generating assets. They may be some edge cases where the entire wealth of an individual is tied to a single private company valued at $100 million dollars, but it would help structurally to change the way certain advantages are taken as you go higher up the ladder. Above $1 billion dollars, you get to >4.5% effective tax and there is no way that is tied to a single private company.