Who in the right mind would vote for Elizabeth Warren knowing they will get taxed to oblivion.
Breaking down the numbers, Warren’s plan can potentially tax a person over 100 percent.
Consider a billionaire with a $1,000 investment who earns a 6% return, or $60, received as a capital gain, dividend or interest. If all of Ms. Warren’s taxes are implemented, he could owe 58.2% of that, or $35 in federal tax. Plus, his entire investment would incur a 6% wealth tax, i.e., at least $60. The result: taxes as high as $95 on income of $60 for a combined tax rate of 158%.
Warren’s plan looks like it will destroy our entire economy.