Is anyone watching Elizabeth Warren on Melber's show right now?

[wryter2000]

Sounds like there will be a billionaires' tax or a wealth tax of some kind. I hope someone will find the video so y'all can see it.

[Walleye]

1. I hope they can figure out how to do it without getting killed by the current Supreme Court

Maybe I just don’t know anything about it, but it seems like a tricky constitutional question

[wryter2000]

2. It's unusual to say the least.

I have no idea if it's legal, either. But I bet you could have said the same thing when the income tax was initiated.

[Walleye]

3. Yes exactly. Did they have to do a constitutional amendment for that? I can't remember

[wryter2000]

7. I don't, either

Maybe someone else will know

[Walleye]

8. Here it is. Sounds like capital gains is taxable and constitutional

Here it is:
In 1913, the Sixteenth Amendment to the U.S. Constitution was ratified. It states: "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."

On the Cornell Law school website

[wryter2000]

9. Excellent

Thank you. Looks pretty clear we can do this.

[polmaven]

4. Sure did...She is one of my Senators

[Budi]

5. Schumer & Wyden announced this earlier.

https://www.democraticunderground.com/100215985487

NEW - In the Senate Democratic lunch, Schumer and Wyden discussed a new corporate minimum tax, according to a Democrat in the lunch. It got major support in the caucus. Finance Cmte expected to release text today, before “Billionaire Income Tax.”

Link to tweet

[wryter2000]

6. Wow

I wasn’t aware of that. Thanks