Originally published at: Wall Street Journal: Elizabeth Warren’s Tax Plan Could Push Rates OVER 100% | Sean Hannity
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.
The rising presidential candidate came under fire earlier this week after she began selling merchandise on her campaign web store branded with the slogan “Billionaire Tears.”
“Presidential candidate Elizabeth Warren isn’t backing down from her fight against billionaires — in fact, the Democratic senator from Massachusetts is now selling $25 ‘billionaire tears’ mugs on her campaign website,” reports Yahoo News.
“In November 2019, billionaire and former Goldman Sachs executive Leon Cooperman (who as recently as 2017 settled with the SEC on insider-trading charges) was brought to tears on live television while discussing the prospect that a President Elizabeth Warren might require him to pay his fair share in taxes,” writes Warren’s webstore.
“Savor a warm, slightly salty beverage of your choice in this union-made mug as you contemplate all the good a wealth tax could do: universal childcare, student debt cancellation, universal free college, and more,” adds the site.
By popular demand:
— Team Warren (@TeamWarren) November 14, 2019
“I’ve paid over $10 billion in taxes,” said billionaire Bill Gates when asked to comment on Warren’s ‘Ultra Wealth’ tax. “If I had to pay $20 billion, it’s fine. But when you say I should pay $100 billion, OK then I’m starting to do a little math about what I have left over. You really want the incentive system to be there, and you can go a long way without threatening that.”
Read the full report here.
Source: Wall Street Journal
