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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (161035)	8/8/2020 2:20:39 AM
From: Snowshoe	Read Replies (1) \| Respond to of 217644

Bernie is just grandstanding. His proposal will be d.o.a. in Congress... The Big Problem With Wealth Taxes Proposals by Senators Warren and Sanders may not pass constitutional muster. Then what? nytimes.com Nov. 7, 2019 The constitutional objection to wealth taxation is based on two clauses that require any “direct tax” to be apportioned among the states based on population. So, since 12 percent of the population lives in California, Californians must pay 12 percent of any direct tax. For the Warren and Sanders wealth taxes, that would be a deal breaker. To match revenue fractions to population percentages, as the Constitution’s direct tax clauses demand, we estimate that the wealth tax rate in West Virginia — the poorest state per capita — would need to be roughly 10 times the rate in more affluent California and more than 20 times the rate in prosperous Connecticut.