Have you heard the news? Taxes are on the way up. Way up. If Elizabeth Warren is elected President that is. $2.75 billion worth of new taxes. Don’t believe me? University of California, Berkeley, economics professors Emmanuel Saez and Gabriel Zucman told Warren that the tax would raise about $2.75 trillion over 10 years.
“That’s the kind of money where we could pay for child care, high quality child care, for all of our kids,” Warren said. “It’s the kind of of money where we could do real relief on student-loan debt. It’s the kind of money where we could make a real start on a Green New Deal. It’s the kind of money where we could bring down the cost of health care.” Straight from the Chief’s mouth. 🙂
She claims that it’s only two percent on those over $50 million. And three percent on those over one billion. So what happens when that doesn’t raise the money she thought it would? Or if that didn’t pay for the programs she wanted to add? Higher tax? Lower the thresh hold?
In closing, here was her position in 2012.
“I want to put it this way: We need to take a hard look overall at our approach to taxation,” Warren said. “That includes every part of it — [the tax code] has become so riddled with loopholes and exceptions that were lobbied in by powerful corporations and individuals with buckets of money. You don’t want to start with any one part of it, because that isn’t the point. The point is the whole thing has to be on the table at once.”
What say you?
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I have been writing on and off the past 46 years. First piece I ever wrote was my high school underground newspaper. A father of two twenty somethings. Happily married and presently living in Ohio.