Senator Elizabeth Warren continued her all-out attack on America’s wealthiest residents during Wednesday’s Democrat debate; saying she’s “tired of freeloading billionaires” who don’t pay their fair share in taxes.
“Today, the 99% in America are on track to pay about 7.2% of their total wealth in taxes. The top one-tenth of 1% that I want to say pay two cents more, they’ll pay 3.2% in America. I’m tired of freeloading billionaires. I think it’s time that we ask those at the very top to pay more so that every single one of our children gets a real chance,” Warren said in Atlanta.
Warren doubled-down on her demands for the ‘Green New Deal’ Monday; saying the radical proposal is “about fighting for economic justice” for American workers.
— Elizabeth Warren (@ewarren) November 21, 2019
“The Green New Deal isn’t just about fighting climate change. It’s about fighting for environmental and economic justice. American workers can lead the global effort to end the climate crisis, build a green new economy, and create more than a million good jobs here at home,” posted Warren on social media.
The #GreenNewDeal isn't just about fighting climate change. It's about fighting for environmental and economic justice. American workers can lead the global effort to end the climate crisis, build a green new economy, and create more than a million good jobs here at home. pic.twitter.com/WNukfPT6tD
— Elizabeth Warren (@ewarren) November 18, 2019
A new report from the Wall Street Journal is shedding dramatic new light on Elizabeth Warren’s economic proposal; saying her recently revealed tax plan could bring rates over 100% for wealthy Americans.
“Democratic presidential candidate Elizabeth Warren has unveiled sweeping tax proposals that would push federal tax rates on some billionaires and multimillionaires above 100%,” writes the Wall Street Journal.
“That prospect raises questions for taxpayers and the broader economy that experts are starting to ponder: Under which circumstances would taxpayers have to pay those rates? How might that change their behavior? And would investment and economic growth suffer?” adds the report.
Warren faced criticism during the last Democrat presidential debate when she dodged questions over how she would pay for her single-payer Medicare for All plan. The Massachusetts Democrat unveiled her plan Thursday, in which she claimed that her plan would not foot the bill onto the middle class.
“Today, I’m releasing my plan to pay for #MedicareForAll. Here’s the headline: My plan won’t raise taxes one penny on middle-class families,” Warren said. “In fact, we’ll return about $11 TRILLION to the American people. That’s bigger than the biggest tax cut in our history.”
Warren contrasts with fellow 2020 Democrat presidential candidate Sen. Bernie Sanders (I-VT), who has admitted that the middle class will pay more in taxes; however, he claims that it will pay less in premiums and other healthcare costs.
Warren estimated that her plan would cost $52 trillion over the next years, which would require $20.5 trillion in new spending.
To offset the cost of her plan, Warren proposed an “Employer Medicare Contribution,” which replaces what companies pay to insurance companies and sends it to the federal government. In a similar manner with Obamacare’s employer mandate, businesses with fewer than 50 employees would be exempt from the Employer Medicare Contribution.