Washington, D.C. — Senator Ted Cruz (R-TX) just dunked on Senator Elizabeth Warren’s (D-MA) tax plan with his own idea about how to change the tax code.
“Under my plan, Jeff Bezos would pay a $5.4 billion #WealthTax of his estimated net worth of $181 billion. He could still pay for his space missions and super-yachts, if that’s where he gets his kicks. But as a nation, we could invest in our people—including universal child care,” Warren wrote on Twitter.
Warren’s redistribution of wealth strategy is laughable, and people quickly pointed that out in response to the Massachusetts socialist’s plan.
Some users pointed out that the $5.4 billion wealth tax on Jeff Bezos would not even cover the over $19 billion the U.S. spends every day.
So, not only would Warren’s tax plan not pay for her expensive socialist programs, but it wouldn’t even cover the current budget deficit.
Warren also forgot to mention that excessively taxing billionaires is not a sustainable source of tax dollars — but that doesn’t matter if it keeps Warren in power for one more term while she builds her own mountain of wealth from the fruits of capitalism.
Other users pointed out that Europe has ditched the wealth tax because it is ineffective and expensive to administer. Warren should know this, but facts do not matter if they do not fit the agenda or help Warren get reelected.
Senator Cruz also got in on the fun by offering up his own tax plan.
“Under my plan, all socialists would pay 100% of their income to the federal government, which would promptly light it on fire. Everyone else would pay a simple flat tax of 10%. And then we’d #AbolishTheIRS,” Cruz wrote.
Whose plan do you like better?
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The article ends with the question, which plan do you like better? I hope the question is rhetorical. The Democrats have never come up with a tax plan I liked because, in my view, it is never enough to satisfy them. They are like Oliver Twist always wanting ‘more’, ‘more’, ‘more’. The communists/socialists like Warren, Bernie, AOC, etc. are even worse. They not only want to take everything we earn, they also want to take everything we have managed to save. Anyone doubting what I say needs only to look at what has happened to our country since Biden took office. The country is going to hell in a handbasket because of the idiotic policies being forced on us by his stupidity.
Sadly, many useful idiots take what this crooked, but goofy, politician says as serious.
Why would any rational, thinking adult even consider allowing ANYONE from Taxachusetts to fiddle with the already-punitive tax code? Although I am for just about any program that eliminates the IRS in its current configuration, and a flat tax will pretty well take care of that, I am not sure that 10% will meet needs unless MAJOR cuts are made to the too-numerous give away programs that we do not need. A study conducted by legitimate economists will reveal the true necessary rate.
The thing that is terrifying is that people actually vote for idiots like to run their lives. Now in AOC, the America hating gang in our Senate and Congress and we have the blue print for the demise of our values, democracy, an our country. Right now Russia, China, North Korea, and the radical Islamic terrorists toaating their victory without the loss of a single soldier.
This round -as usual- goes to Ted Cruz. If those folks are true socialists, they should happily send in their own personal wealth. Otherwise, they’re exposing themselves as phonies. Meantime, getting rid of the bloated IRS will save us money. A ten percent flat tax is fair for all.
I like Cruz’s plan best, Take 100% from the communists and socialists, give it to the government, who would promptly WASTE it…. as they are want to do anyway, ten percent from all others and cancel the IRS, Saving Big bucks…. and 10% from beelzebub would be 18.1 billion, still leaving him with tons of money to play with his flying Dick…. Also lets Cancel Section 230 of the communications act !
Pocahontas, a wealth tax violates the 16th amendment to the US Constitution!
I’m not a fan of Jeff Bezos and am pretty much jealous of all wealthy person’s wealth. That said, I firmly believe that whatever wealthy person’s do with their wealth, whether earned, inherited or won in a lottery, it would be better for all American citizens than to have their money given to government agencies run by corruptible politicians to do with as they please.
To keep politicians honest, we need to keep the amount of money available to them as low as possible.
First of all, anything suggested by Elizabeth Warren, just a Socialist getting richer off. Capitalism, should be person and thrown in the garbage! She’s really a loose cannon and just another professional politician that is worth zero! Massachusetts is over full of Leftists so they sadly vote for creeps like Warren! I’d hate to live every day and never get any smarter like Warren and Sanders! I’m with Cruz, practice what you preach Leftists and donate all your money to the government! Hog wash is all you spew! Yawn!!!!!
I believe the best solution is to eliminate unnecessary government agencies. I’m thinking about half of them are wealth redistribution programs that produce little for the working families. I’d start with privatization of our education system. It’s in the final stages of collapse anyway and has become a propaganda voice for the democrat party. Dumping it totally would improve education and eliminate indoctrination of our youth. Perhaps the best part is it would eliminate a colossal and unnecessary expense while creating a huge and profitable industry that could be taxed.