Warren's wealth tax would solve economic inequality, says economist Gabriel Zucman

[oldsoftie]

8. Of course. Its pretty simple. But it requires being objective & honest

No realistic tax plan targeting only the super rich will raise NEARLY enough money to pay for all the programs most people desire. There simply arent enough people that fall into that category. And that doesnt even factor in how much income or assets would simply vanish under wealth taxes. very easy to start dropping your net worth if you know whats coming.
Anyone who files taxes under "stated income"; money not covered by a W2 or 1099, can also EASILY avoid paying SS & income taxes. You merely dont admit how much you really made. I know dozens of people who do it every year. And think of how many jobs & professions earn income that is not covered by either a W2 or 1099. And this doesnt even factor in criminal money. A VAT tax captures ALL that money and makes the rich pay much more in taxes. They spend a lot of money keeping up that lifestyle.
Yes, a VAT would tax the poor. It taxes the poor in all the countries that have it and also have the programs, like health care, that we want. But you could also alleviate that with a monthly check to cover poverty wages.

You cannot double the national budget by solely taxing the rich. And anyone who looks at the numbers HONESTLY has to admit it