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Sen. Elizabeth Warren (D-Mass.), a leading Democratic presidential contender, claimed that billionaires would barely pay any money under her proposed wealth tax while on the campaign trail on Nov. 11. “Maybe you’ve heard, there are some billionaires who don’t like this. Yes, they’ve been interviewed on TV, I’ve noticed lately. So sad. So sad that they might have to pay two cents out of their bazillion dollars,” Warren told the crowd. “So here’s the thing. And they say, you know, I worked hard. Yeah, unlike anyone else.” Warren, 70, proposed an “Ultra-Millionaire Tax” earlier this year that would place “an...

Sen. Elizabeth Warren is campaigning for a 2% surtax on anyone’s net worth over $50 million and 6% on more than $1 billion. Most discussion of the wealth tax has focused on whether it could generate sufficient revenue to fund Ms. Warren’s various spending plans, and the revenue likely would be far less than she projects. But that focus overlooks the ways the massive new tax would harm all Americans. If you take comfort in Ms. Warren’s claim that her tax would apply only to the wealthiest Americans, think again. In 1913 the progressives of that era sold a federal...

In an attempt to distinguish herself from her “establishment” colleagues, Elizabeth Warren has embraced the rhetoric of class warfare, singling out allegedly the “ultra-rich” as the subject of her perpetual ire. In the same vein as Bernie Sanders, Warren has adopted a punishing tone when discussing American corporations, so much so that she has constructed entire legislation centered upon restructuring incentives within the stock market in order to “produce broad-based growth that help[s] workers and shareholders alike.” There’s only one problem with this narrative. Warren’s proposed legislation to rein in corporate governance practices — predictably named the “Accountable Capitalism Act”...

The impeachment of Donald Trump will claim more casualties than Democrats could possibly be aware of. Indeed, by moving ahead with such a destructive political process, Democrats are calling in an airstrike on their own position. Sure, they may get their guy — at least in the House — but they will also eviscerate their front-runner, Joe Biden, while blowing up any meaningful media coverage the rest of the Democratic field needs to sustain itself. Speaking of the Democratic field, most of the big dogs also happen to serve in the Senate, which means they’ll be stuck in Washington, D.C.,...

Are presidential candidate Elizabeth Warren and WeWork founder Adam Neumann the same person? I mean, they have different hairstyles and all, but their philosophies are more alike than not. They both claim, falsely, to be capitalists. Ms. Warren told the New England Council last year, “I am a capitalist to my bones.” She then told CNBC, “I am a capitalist. Come on. I believe in markets.” It was almost as if she didn’t believe it herself. Then came the caveat: “But only fair markets, markets with rules. Markets without rules is about the rich take it all, it’s about the...

Elizabeth Warren has a plan — to annoy union members who work for state and local governments. With her “Medicare for All” plan, the top-tier Democratic contender is revealing a tension in the neo-progressive movement. Warren’s $20.5 trillion over a decade to pay for Medicare for All requires what she calls a “redirection” in funds: $6 trillion in “existing state- and local-government insurance spending.” Of this figure, $3.3 trillion goes for Medicaid, public insurance for poorer people. But the other $2.7 trillion comes from the funds state and local governments “currently spend on employer contributions to private insurance premiums for...

Sen. Elizabeth Warren (D-Mass.) said that her Medicare for All plan would cover everyone in America, even those in the country illegally, at a town hall on Nov. 8. Speaking in Raleigh, North Carolina, she said that her plan—which would see the government take over the entire healthcare industry—would cover all illegal immigrants in the United States, estimated to be up to 29 million people. “We know that you have included undocumented people in your plans to provide Medicare for All, so my question is why did you decide to include people regardless of immigration status, and would this include...

ORANGEBURG, SC — Warren's appearance at an enivornment forum in Orangeburg, South Carolina on Friday certainly wasn't her campaign's finest hour after pictures surfaced on Twitter of the presidential candidate speaking to a mostly empty auditorium. Warren may be polling well against other Democrat candidates at the moment, but the Senator from Massachusetts, in attracting a crowd measurable only in the dozens to a facility designed to hold several hundred, found herself speaking to more empty seats than actual supporters. One really has to wonder what she and her campaign staff were thinking? Optics matter and with polls tightening and...

The Socialists vs. Billionaires Democrat Primary Bloomberg joining the primaries from hell will make them even worse. Fri Nov 8, 2019 Daniel Greenfield 34 Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is an investigative journalist and writer focusing on the radical Left and Islamic terrorism. Joe Biden is running out of money. He blew too much cash on private jets while blowing away debating opponents with his confused mumbling and bleeding eye. Now Joe’s down to the single digit millions, while Elizabeth Warren and Bernie Sanders are in the double millions. Unless Joe can wangle a job...

Aria Neukam says she loves that Democratic presidential candidate Elizabeth Warren has lots of plans. She knows the senator has an education plan, a Medicare for All plan, an environmental plan. Ms. Neukam says she doesn’t know exactly what is in those documents, but that isn’t the point. She says she thinks President Trump’s governing style is ad hoc and unorthodox, and she prefers a leader who has spelled out what they are going to do and how to do it. “In truth, when she says ‘I have a plan,’ I trust that there is some well-researched plan out there,”...

Elizabeth Warren may be surging in the polls, but you wouldn’t know it by the size of the crowd that heard her speak on Friday. The senator from Massachusetts spoke at a sparsely attended environmental forum in Orangeburg, South Carolina, on Friday. The auditorium where the event was held appeared as if it could hold hundreds of spectators, but there were no more than a few dozen who could be seen watching the event. **SNIP** Most of the Democratic candidates in the race skipped the event. When asked if it was wrong for the Democratic Party not to stage an...

“Black trans and cis women, gender-nonconforming, and nonbinary people are the backbone of our democracy,” said a Thursday statement from Sen. Elizabeth Warren (D-MA). Warren issued the remark after sealing the endorsement of the radical activist group dubbed “Black Womxn For.” Warren has “a deep understanding of how racism and gender discrimination don’t just compound income inequality but are actually central to maintaining the status quo,” the group declared. The activist group prefaced its endorsement with a frightening picture of the 2016 presidential election, proclaiming that it “laid bare what many Black women, gender non-conforming, and non-binary, and queer folk...

Hillary Clinton said Wednesday that she doesn’t believe Elizabeth Warren’s Medicare-for-All plan would ever become law and that there are better ways to raise revenues than Warren’s proposed wealth tax. Asked at a New York Times conference whether she thinks the health-care plan released by Warren would ever get enacted, the 2016 Democratic presidential nominee said: “No, I don’t. I don’t but the goal is the right goal.” **SNIP** Warren responded on Thursday. “I’m saying, you don’t get what you don’t fight for,” she said, according to The Times. “You know, you’ve got to be willing to get out there...

Sen. Elizabeth Warren (D-MA) confirmed Friday that her $52 trillion Medicare for All plan will cover illegal immigrants. Warren attended a “Latinx town hall” in Raleigh, North Carolina, on Friday and confirmed during a Q&A session that her Medicare for All plan will, in fact, cover the 11-22 million illegal immigrants residing in the United States. (snip) “Would you also support access to the children’s health insurance program without regard to immigration stuff?” he added. Warren immediately praised the question and gleefully reiterated that her Medicare for All plan covers “everyone,” including illegal immigrants. Notably, Warren said she will fund...

Elizabeth Warren @ewarren Thank you, @BlackWomxnFor! Black trans and cis women, gender-nonconforming, and nonbinary people are the backbone of our democracy and I don’t take this endorsement lightly. I'm committed to fighting alongside you for the big, structural change our country needs.

Bill Gates, a man who’s worth an estimated $107 billion, suggested on Wednesday he’d be open to voting for President Donald Trump in 2020 if the Democrats try to make him pay his fair share in taxes. The bizarre suggestion is just the latest sign that American oligarchs are prepared to support an authoritarian if Elizabeth Warren’s proposed wealth tax moves forward. “If I had to pay $20 billion, it’s fine,” Gates said at the New York Times DealBook conference yesterday when discussing a possible wealth tax. “But when you say I should pay $100 billion, then I’m starting to...

Several billionaires have recently criticized the wealth tax proposal of presidential candidate Sen. Elizabeth Warren (D-MA). And fellow lawmaker Rep. Alexandria Ocasio-Cortez (D-NY) has come to her aid. During an interview with CNBC, JPMorgan CEO Jamie Dimon said of Warren: “She uses some pretty harsh words, you know, some would say vilifies successful people.” The New York congresswoman, who previously proposed a 70% tax on Americans with incomes over $10 million, jumped on Dimon’s remarks: Alexandria Ocasio-Cortez ✔ @AOC Y’all, the billionaires are asking for a safe space - you know, in addition to the entire US economy and political...

(snip) The period between the recent October Democratic debate and the coming November Democratic debate creates the crucible of an intense political test for Sen. Elizabeth Warren (D-Mass.) … The challenge for Warren during this period — which creates significant worry among many Democrats and will be a major topic in the November debate — is that she is taking a small number of highly controversial positions that create extreme political danger to her campaign in critical electoral vote states and threaten a number of key Democratic House and Senate candidates in battleground states and districts. The most dangerous position...

One of the challenges presented by the leftward turn in the Democratic presidential primary race is effectively capturing the scale of the tax and spending proposals the leading candidates have put forth. The numbers regularly stretch into the trillions, or even multiple tens of trillions. To put that in contrast, a decade ago, early drafts of the health law that became Obamacare were viewed as pushing the boundaries of political acceptability because they ran just over $1 trillion over a decade. A trillion dollars! Even for Washington, that was a lot of money, an expansion of the size of government...

... The constitutional objection to wealth taxation is based on two clauses that require any “direct tax” to be apportioned among the states based on population. So, since 12 percent of the population lives in California, Californians must pay 12 percent of any direct tax. For the Warren and Sanders wealth taxes, that would be a deal breaker. To match revenue fractions to population percentages, as the Constitution’s direct tax clauses demand, we estimate that the wealth tax rate in West Virginia — the poorest state per capita — would need to be roughly 10 times the rate in more...