“It is not enough to point toward someone's house or their yacht and say that they can afford the wealth tax - it goes to the ethics of taxing someone over and over again just because you are a money-grubbing politician with no moral compass and a hatred for those who have created economic value by using their God-given talents to best of their abilities. If this country lurches towards socialism, then our stupid leaders will destroy the American dream and we will end up where Venezuela and Cuba are. Capitalism is the economic system that has lifted more people out of poverty than any other system. A wealth tax would most certainly adversely affect my clients.”
Allan Katz
Founder and President
Comprehensive Wealth Management Group, LLC
Staten Island, NY
“I think it is ludicrous. We just learned that lowering taxes can have a great effect on the economy. Billions of dollars have come back to the country from overseas from tax havens. This would not just tax corporations, but wealthy families as well. Overtaxing will cause the money to go back overseas for better tax treatment and it will bring us back to the corruption of black markets where deals are done in cash to avoid being detected. Considering the level of corruption we are dealing with, going back to cash deals may be exactly what Warren and her cohorts are looking for.
Thomas I. Rindahl
Financial Advisor
TruWest Wealth Management Services
Scottsdale, AZ
“This tax would not affect my clients, but general concerns of mine, as I see the proposal now, are: One, that those who would be affected would attempt to hide the wealth to avoid taxation, and; Two, individuals' wealth may not be readily liquid to pay such a tax which would then lead to selling of assets, which could trigger additional taxable events.”
Adam D. Van Wie
Chief Operating Officer
Van Wie Financial
Jacksonville Beach, FL
“This proposal will not affect any of my clients and only impact a few people that I know. The idea of a ‘wealth tax’ goes against one of the basic principles that this country was founded on. In America, we reward those that work hard, have great ideas, and run successful companies. They pay taxes on their personal income at a very high rate, and their corporations pay income taxes on their profits. Elizabeth Warren's wealth tax proposal is at best double taxation and at worst theft. The government has a spending problem, and they want to steal money from their most successful citizens to fund it. Additionally, my guess is that she backs off this idea very quickly when her wealthy donors stop funding her campaign.
Allan W. Moskowitz
Financial Advisor
First Affirmative Financial Network
El Cerrito, CA
“It's a step in the right direction toward correcting income inequality if used constructively. There is too much concentration of wealth of the top 1/10 of 1%, who own as much as the bottom 50%.”
Dennis R. Nolte
Vice President
Seacoast Investment Services
Oviedo, FL