Poke-in-her anus Warren plan to save SS...TAX THE RICH!!

[bb1961]

• THE TOP CONTENDER FOR THE DEM NOMINATION HAS A REAL WINNER FOR THE VICTORY IN 2020...TAX THE RICH AND SS WILL BE SAVED!! THIS BITCH THINKS THAT SS IN GOING INSOLVENT BECAUSE THE RICH DON'T PAY THEIR FAIR SHARE...THE GUMMENT WASTES TOO MUCH...THAT HAIR BRAINED IDEA ISN'T GOING TO SAVE SS!!
  

She wants people to get $200 more a month, and she wants the rich to pay for it!!

By John Johnson, Newser Staff

Posted Sep 12, 2019 10:24 AM CDT


Democratic presidential candidate Sen. Elizabeth Warren, D-Mass., speaks during the New Hampshire state Democratic Party convention on Saturday in Manchester, NH. (AP Photo/Robert F. Bukaty)


(Newser) – Elizabeth Warren is out with her latest policy proposal, and she's calling for those on Social Security to receive an extra $200 a month. In a post at Medium detailing the proposal, Warren says the increased benefits would be paid for by raising taxes on the wealthy. The plan comes out hours ahead of the third Democratic debate, and the New York Times observes that it appears calculated to appeal to older voters who might be leaning toward Joe Biden. Warren's plan would cost more than $150 billion in its first year, per the Times. Specifically, Warren wants to impose a new 14.8% contribution requirement on individual wages above $250,000 a year, reports the Hill.

"Currently, the rich contribute a far smaller portion of their income to Social Security than everyone else," writes Warren. "That's wrong, and it's threatening the solvency of the program." She maintains that her plan would not only result in a needed raise for beneficiaries, whose average monthly check is $1,354, but would extend the solvency of Social Security by two decades. The chances of her plan becoming reality? Pretty slim, notes Vox in an explainer. "But Warren’s Social Security pitch is a good guide to how she thinks about economic policy in general," writes Matthew Yglesias. Her emphasis is on income inequality and how to remedy that. In her view, by taxing the rich—"and taxing them fairly heavily—you unlock the possibility of raising living standards for almost everyone," Yglesias notes. (Read more Elizabeth Warren stories.)

[Tiny]

She doesn't want to just impose the 14.8% tax on wages, but on all income. Add that to her wealth tax of up to 3% and the income tax rate of up to 75% proposed by her economic advisers Zucman and Saez, and her plans for the tax system look a lot like theft. She'll shut down the most successful entrepreneurs and capitalists in America by taking all their capital. But yes, Warren would reduce inequality, by making everyone poorer.

Sorry if I'm annoying you with this post. I know you don't like me posting about money.

[bb1961]

I know you understand Tiny... in this circumstance we understand the money grab and control the left wants on our lives and it is what will cost them the election in 2020.


Tiny this board is open for anyone to post anything...only the leftwing nut jobs that post complete nonsense and contribute NOTHING annoy me!!

[oeb11]

Thanks for the accurate contribution, tiny!
warren is a socialist loon, and her economics will impoverish all America.

[lustylad]

Warren’s Assault on Retiree Wealth

Her vision of ‘accountable capitalism’ would destroy savings built over a lifetime—and sink the economy.

By Phil Gramm and Mike Solon
Sept. 10, 2019 6:41 pm ET

Who owns the vast wealth of America? Old folks. According to the Federal Reserve, households headed by people over the age of 55 own 73% of the value of domestically owned stocks, and the same share of America’s total wealth. Households of ages 65 to 74 have an average of $1,066,000 in net worth, while those between ages 35 and 44 have less than a third as much on average, at $288,700.

A socialist might see injustice in that inequality. But seniors know this wealth gap is the difference between the start and the finish of a career of work and thrift, making the last mortgage and retirement payments rather than the first. Seventy-two percent of the value of all domestically held stocks is owned by pension plans, 401(k)s and individual retirement accounts, or held by life insurance companies to fund annuities and death benefits. This wealth accumulated over a lifetime and benefits all Americans.

That means it’s your life savings on the line—not the bankroll of some modern-day John D. Rockefeller—when Democrats push to limit companies’ methods of enriching their shareholders. Several Democratic congressmen and presidential candidates have proposed to limit stock buybacks, which are estimated to have increased stock values by almost a fifth since 2011, as well as to block dividend payments, impose a new federal property tax, and tax the inside buildup of investments. Yet among all the Democratic taxers and takers, no one would hit retirees harder than Sen. Elizabeth Warren.

Her “Accountable Capitalism Act” would wipe out the single greatest legal protection retirees currently enjoy—the requirement that corporate executives and fund managers act as fiduciaries on investors’ behalf. To prevent union bosses, money managers or politicians from raiding pension funds, the 1974 Employee Retirement Income Security Act requires that a fiduciary shall manage a plan “solely in the interest of the participants and beneficiaries... for the exclusive purpose of providing benefits to participants and their beneficiaries.” The Securities and Exchange Commission imposes similar requirements on investment advisers, and state laws impose fiduciary responsibility on state-chartered corporations.

Sen. Warren would blow up these fiduciary-duty protections by rewriting the charter for every corporation with gross receipts of more than $1 billion. Every corporation, proprietorship, partnership and limited-liability company of that size would be forced to enroll as a federal corporation under a new set of rules. Under this new Warren charter, companies currently dedicated to their shareholders’ interest would be reordered to serve the interests of numerous new “stakeholders,” including “the workforce,” “the community,” “customers,” “the local and global environment” and “community and societal factors.”

Eliminating corporations’ duty to serve investors exclusively and forcing them to serve political interests would represent the greatest government taking in American history. Sen. Warren’s so-called accountable capitalism raids the return that wealth provides to its owners, the vast majority of whom are present or near retirees. This subversion of capitalism would hijack Americans’ wealth to serve many new masters who, unlike shareholders, don’t have their life savings at stake in the companies that are collectivized.

After dividing retirees’ rightful earnings eight ways to serve the politically favored, the Warren charter goes on to require that “not less than 2/5 of the directors of a United States corporation shall be elected by the employees.” With a mandate to share profits with seven other interest groups and 40% of the board chosen by non-investors, does anybody doubt that investors’ wealth would be quickly devoured?

At best, every U.S. company with gross revenues over $1 billion would be suddenly coerced into operating like a not-for-profit. But unlike legally recognized Benefit Corporations, the companies would be redirected to multiple competing purposes. A new Office of U.S. Corporations would decide—and lawyers would sue to determine—whether those interests are satisfied, and only then would retirees receive the remaining crumbs. Only in Sen. Warren’s socialist heaven would workers continue to sweat and sacrifice while their rewards go to publicly favored groups.

It is the fiduciary responsibility of every investment adviser, pension fund, 401(k), IRA and life insurance company to tell its clients what would happen to their investments under Sen. Warren’s bill. Her plan would devastate the income-generating capacity of every major company in America and decimate their market value in the process.

If the bill were passed, retirement plans and investors could attempt to sell their stocks and find new investments where their money would still work for them. They could sell their shares in the large companies subject to Sen. Warren’s dispossession and buy into smaller companies with receipts below the $1 billion threshold, or look for investments abroad.

The problem is that everybody else would be trying to do the same. Investments built over a lifetime would be sold in a fire sale, with limited alternatives purchased in panic buying. While no econometric model could give a reliable estimate of the wealth destruction, no knowledgeable observer could doubt that an economic cataclysm would follow such a policy. “Accountable capitalism” would hit present and near-retirees first and hardest, followed by American workers and the rest of the economy.

Sen. Warren would roll back the economic Enlightenment that gave us private property and economic freedom, and plunge us back into the communal world of the Dark Ages. Like the village, guild, church and crown of yore, government-empowered special interests would once again be allowed to extort labor and thrift. When capital is no longer protected as private property and is instead redefined as a communal asset, prosperity and freedom will be the greatest casualties.

Socialism always destroys wealth; it doesn’t redistribute it. Unfortunately, this great truth is far from self-evident. Whether current and near-retirees will stand up and fight for their retirement savings will effectively gauge the survival instinct of our country, and our willingness to preserve the economic system that built it.

Mr. Gramm, a former chairman of the Senate Banking Committee, is a visiting scholar at the American Enterprise Institute. Mr. Solon is a partner of US Policy Metrics.

https://www.wsj.com/articles/warrens...th-11568155283

[bb1961]

This is a lot like the death tax..work hard for 60+ years to accumulate a sizable wealth portfolio (the more successful you are the more they take) to leave your children and the Gumment wants the lions share of it because YOUR had work over MANY years should be shared with others whom didn't do a dam thing to EARN IT!!
Capitalism creates wealth...socialism steals it!!

Liberalism is a gutless choice.

https://www.youtube.com/watch?v=x3clRraH77M

[rexdutchman]

The real Question ( as always ) is who 's rich over 100,000 more / less funny how that's ever answered because they want to tax all

[TheDaliLama]

Why is it greedy for one to want to keep his hard earned money

....but noble for some one to steal it.

[lustylad]

Originally Posted by TheDaliLama

Why is it greedy for one to want to keep his hard earned money

....but noble for some one to steal it.

+1

What's the definition of greed? It's one of the Seven Deadly Sins.

Greed = insatiable desire for wealth.

Let's think about that for a moment.

Question - whose desire appears more "insatiable"?

A) Taxpayers strugging to hang on to the hard-earned fruits of their own labor?

Or

B) Politicians trying to grab more and more of it to feed their endless spending habits?

[Tiny]

Originally Posted by lustylad

Warren’s Assault on Retiree Wealth

Her vision of ‘accountable capitalism’ would destroy savings built over a lifetime—and sink the economy.

By Phil Gramm and Mike Solon
Sept. 10, 2019 6:41 pm ET

Who owns the vast wealth of America? Old folks. According to the Federal Reserve, households headed by people over the age of 55 own 73% of the value of domestically owned stocks, and the same share of America’s total wealth. Households of ages 65 to 74 have an average of $1,066,000 in net worth, while those between ages 35 and 44 have less than a third as much on average, at $288,700.

A socialist might see injustice in that inequality. But seniors know this wealth gap is the difference between the start and the finish of a career of work and thrift, making the last mortgage and retirement payments rather than the first. Seventy-two percent of the value of all domestically held stocks is owned by pension plans, 401(k)s and individual retirement accounts, or held by life insurance companies to fund annuities and death benefits. This wealth accumulated over a lifetime and benefits all Americans.

That means it’s your life savings on the line—not the bankroll of some modern-day John D. Rockefeller—when Democrats push to limit companies’ methods of enriching their shareholders. Several Democratic congressmen and presidential candidates have proposed to limit stock buybacks, which are estimated to have increased stock values by almost a fifth since 2011, as well as to block dividend payments, impose a new federal property tax, and tax the inside buildup of investments. Yet among all the Democratic taxers and takers, no one would hit retirees harder than Sen. Elizabeth Warren.

Her “Accountable Capitalism Act” would wipe out the single greatest legal protection retirees currently enjoy—the requirement that corporate executives and fund managers act as fiduciaries on investors’ behalf. To prevent union bosses, money managers or politicians from raiding pension funds, the 1974 Employee Retirement Income Security Act requires that a fiduciary shall manage a plan “solely in the interest of the participants and beneficiaries... for the exclusive purpose of providing benefits to participants and their beneficiaries.” The Securities and Exchange Commission imposes similar requirements on investment advisers, and state laws impose fiduciary responsibility on state-chartered corporations.

Sen. Warren would blow up these fiduciary-duty protections by rewriting the charter for every corporation with gross receipts of more than $1 billion. Every corporation, proprietorship, partnership and limited-liability company of that size would be forced to enroll as a federal corporation under a new set of rules. Under this new Warren charter, companies currently dedicated to their shareholders’ interest would be reordered to serve the interests of numerous new “stakeholders,” including “the workforce,” “the community,” “customers,” “the local and global environment” and “community and societal factors.”

Eliminating corporations’ duty to serve investors exclusively and forcing them to serve political interests would represent the greatest government taking in American history. Sen. Warren’s so-called accountable capitalism raids the return that wealth provides to its owners, the vast majority of whom are present or near retirees. This subversion of capitalism would hijack Americans’ wealth to serve many new masters who, unlike shareholders, don’t have their life savings at stake in the companies that are collectivized.

After dividing retirees’ rightful earnings eight ways to serve the politically favored, the Warren charter goes on to require that “not less than 2/5 of the directors of a United States corporation shall be elected by the employees.” With a mandate to share profits with seven other interest groups and 40% of the board chosen by non-investors, does anybody doubt that investors’ wealth would be quickly devoured?

At best, every U.S. company with gross revenues over $1 billion would be suddenly coerced into operating like a not-for-profit. But unlike legally recognized Benefit Corporations, the companies would be redirected to multiple competing purposes. A new Office of U.S. Corporations would decide—and lawyers would sue to determine—whether those interests are satisfied, and only then would retirees receive the remaining crumbs. Only in Sen. Warren’s socialist heaven would workers continue to sweat and sacrifice while their rewards go to publicly favored groups.

It is the fiduciary responsibility of every investment adviser, pension fund, 401(k), IRA and life insurance company to tell its clients what would happen to their investments under Sen. Warren’s bill. Her plan would devastate the income-generating capacity of every major company in America and decimate their market value in the process.

If the bill were passed, retirement plans and investors could attempt to sell their stocks and find new investments where their money would still work for them. They could sell their shares in the large companies subject to Sen. Warren’s dispossession and buy into smaller companies with receipts below the $1 billion threshold, or look for investments abroad.

The problem is that everybody else would be trying to do the same. Investments built over a lifetime would be sold in a fire sale, with limited alternatives purchased in panic buying. While no econometric model could give a reliable estimate of the wealth destruction, no knowledgeable observer could doubt that an economic cataclysm would follow such a policy. “Accountable capitalism” would hit present and near-retirees first and hardest, followed by American workers and the rest of the economy.

Sen. Warren would roll back the economic Enlightenment that gave us private property and economic freedom, and plunge us back into the communal world of the Dark Ages. Like the village, guild, church and crown of yore, government-empowered special interests would once again be allowed to extort labor and thrift. When capital is no longer protected as private property and is instead redefined as a communal asset, prosperity and freedom will be the greatest casualties.

Socialism always destroys wealth; it doesn’t redistribute it. Unfortunately, this great truth is far from self-evident. Whether current and near-retirees will stand up and fight for their retirement savings will effectively gauge the survival instinct of our country, and our willingness to preserve the economic system that built it.

Mr. Gramm, a former chairman of the Senate Banking Committee, is a visiting scholar at the American Enterprise Institute. Mr. Solon is a partner of US Policy Metrics.

https://www.wsj.com/articles/warrens...th-11568155283

Warren claims she believes in capitalism but that's a sham. She's a socialist. Two of her economic advisors are Gabriel Zucman and Emmanual Saez, French socialists. And their master plan is to take us to where Francois Hollande, the socialist president, tried to take France. Hollande didn't succeed because his 75% tax rates actually resulted in lower tax revenues and were a burden on the economy. Hollande also introduced a wealth tax, similar but at lower rates than the one proposed by Warren and her advisers. It's also been a fiasco. There are only a handful of countries left that still levy wealth taxes. They don't work. They are akin to theft and cause capital flight and reduce the incentive to work and invest.

Warren's Accountable Capitalism Act would require 40% of board members of a company be its employees. The British Labour Party has proposed something very similar, with the added kicker that 10% of ownership of companies would be transferred to employees. Warren undoubtedly would like to slip that in as well. This is a prelude to collectivization of industry.

Anyway, if you want America to be like France, vote for Warren. France's GDP per capita is about 30% less than America's. And that's about what you can expect if she and like minded politicians control America over the long term -- an economy that's 70% of the size it would be otherwise.

[Levianon17]

Originally Posted by lustylad

+1

What's the definition of greed? It's one of the Seven Deadly Sins.

Greed = insatiable desire for wealth.

Let's think about that for a moment.

Question - whose desire appears more "insatiable"?

A) Taxpayers strugging to hang on to the hard-earned fruits of their own labor?

Or

B) Politicians trying to grab more and more of it to feed their endless spending habits?

Everyone of those Democratic Candidates got where they are today financially by corporate theft. Then they turn around and sell a pitch to poor Americans "if we raise taxes on the rich poor people won't be so poor anymore", lol. Free Healthcare, Free College, eliminate Climate Change ect. Pretty soon all that remains is an emotionally enslaved country not knowing how to think for themselves.

[oeb11]

L-17 - DPST's will mandate how people are to think.
DPST mind-set narrative will be mandatory
They read Orwell's 1984 - it is the model.

[00 gauge]

She's coming after your hard-earned money ..... better hope Beto doesn't grab your guns leaving you defenseless when your government comes taxin' and stealin' .....

[themystic]

Originally Posted by oeb11

L-17 - DPST's will mandate how people are to think.
DPST mind-set narrative will be mandatory
They read Orwell's 1984 - it is the model.

oebgyn11 do you even know what anyone says?
you should just consider copy/paste on your responses oebgyn11
oebgyn11 bible= mein kampf

[oeb11]

warren is coming for increased taxes and wealth re-distribution - and the Axis of Socialism posters love her for it
They foolishly believe that they wil be exempted - Very Foolish - she will confiscate from Old white males first - and being gay/tranny/socialism supporters will not exempt them
The only exemption will be warren and her husband, and carefully vetted socialist lawmakers such as AOC and her Ilk.