Warren on Bloomberg 2020: 'I guess he figured it was cheaper than paying a 2c wealth tax'

[crazytown]

Elizabeth Warren on Bloomberg 2020: 'I guess he figured it was cheaper than paying a two-cent wealth tax'

You worked hard. You had a great idea. You hit the big moment, and you made it big. Good for you! I’m glad to hear it. All we’re saying is if you make it big, I mean really big pitch in two cents so everybody else gets a chance at this.

Yahoo Finance: During a campaign rally in Brooklyn with former presidential candidate Julian Castro, U.S. Sen. Elizabeth Warren (D-MA) took the time to talk about her proposed Ultra-Millionaire Tax that she says would help give back to America’s middle class.

“It is time for a wealth tax in America,” Warren said to a packed room of supporters.

(snip) “You may have heard: there are some billionaires that have taken exception to this — go on TV and cry,” Warren said, mocking tears. “Other billionaires have been moved to run for president. I guess he figured it was cheaper than paying a two-cent wealth tax.”

(snip) Under Warren’s wealth tax, Bloomberg would pay $3.163 billion, while Cooperman would pay $151 million, according to her website’s Calculator for the Billionaires.

“Here’s the argument from these guys: ‘We got out there and we worked hard. We earned this money. This is what a market economy is all about,’” Warren said. “And here’s my answer to that: You worked hard. You had a great idea. You hit the big moment, and you made it big. Good for you! I’m glad to hear it.”

She continued: “But understand this: You built a great fortune here in America, I guarantee you built at least in part using workers all of us helped pay to educate,” Warren said. “All we’re saying is if you make it big, I mean really big, I mean top 1/10th of 1% big, pitch in two cents so everybody else gets a chance at this.”

https://finance.yahoo.com/news/elizabeth-warren-on-bloomberg-2020-run-154951690.html

74% of Americans, including 65% of Republicans support an Annual Wealth Tax
https://thehill.com/hilltv/what-americas-thinking/428747-new-poll-americans-overwhelmingly-support-taxing-the-wealth-of

[AncientGeezer]

1. She will run into the Courts...."Wealth Tax"....

I'm betting SCOTUS would kill that faster than the Medicaid mandate

[crazytown]

2. The individual mandate was Constitutional because it was a form of tax,

the Medicaid expansion struck down because it was not. There is strong academic support for the Ccnstitutionality of a wealth tax, but this is the court of Citizens United. All progressive legislation will be challenged, including a public option.

[dsc]

5. actually there is a vastly stronger case for the Medicaid expansion than the wealth tax

The reason we have the 16th amendment (income tax) is because the Constitution has clear language that bans taxation that raises more per capita from one state than another. The income tax, of course, would do that. A wealth tax also would do that and the 16th amendment doesn't specifically permit a wealth tax. I think at best a wealth tax would be 50/50 even with a decent Supreme court. The Medicaid expansion would be a 100% option with a decent court.

[BeckyDem]

3. +1 lol I love her sense of humor.

[bluewater]

4. Bazinga!