Entering Trump’s $3.1 billion net worth into the calculator, the program spits out a pre-programmed message.Wow — you’ve got a lot of money!” it says. “Now you have the opportunity to invest some of it back into our society so everyone has a chance to succeed. You’d pay $145 million next year under Elizabeth’s wealth tax. This amount, which you likely won’t even feel, will help us invest in education from birth through college and help finance health care for everyone.
For Trump’s business, a single $145 million bill would be tough, but an annual one would be crippling. If Trump paid the first year of taxes out of his cash accounts, it seems certain he would have to leverage or sell some assets to satisfy the tax demand in later years. Not to worry, insists Warren’s pre-programmed calculator. “If history is any guide, if you do nothing other than invest your wealth in the stock market, it’s likely that your wealth will continue to grow.”
It’s true that S&P 500 has grown at an average annual rate of roughly 10% over the last 30 years, enough to outpace a 6% wealth tax. But most billionaires don’t have their fortunes invested in a diversified stock portfolio like the S&P 500. They generally get rich by investing in one company and betting the house on it. If business goes well, they make a fortune. If it doesn’t, they can lose billions.
billionaire rankings in 1997 after an eight-year hiatus, with an estimated net worth of $1.4 billion. In the 22 years since, he has added $1.7 billion, meaning his initial $1.4 billion produced a compound annual return of 3.7%. Mediocre returns like that wouldn’t be enough to keep pace with Warren’s taxes.to get around federal taxes for decades.
And all of business in the United States
...... and everyone else's business too
apparently existing taxes already wreak havoc on trumps businesses.
GOOD !!!
Like he needs any help wreaking havoc on his own businesses
It should be adopted by ANYONE of the candidates that win the presidency
It is not just Trump. Forced selling every year is bad for all Americans.
Just DT.. did you listen to Gates If you think these folks are going to let someone come in and peel away their $ one must be delusional.
Oh la la, it happens😎🤔1mPeRAtorV1