Elizabeth Warren likes to be known as the Democrat candidate with a “plan” for everything. One of Warren’s latest plans is for a so-called Blue New Deal (in addition to the Green New Deal which apparently isn’t comprehensive or expensive enough). However, Warren’s still pushing some of her previous plans, and one of which is a “wealth tax.”

An analysis of Warren’s wealth tax has found that her campaign’s numbers are way off:

Color us 1/1024ths shocked!

Trending

More from the Associated Press:

But some potential hurdles of doing so were on display earlier Thursday, when the University of Pennsylvania’s Penn Wharton Budget Model, which provides nonpartisan analysis of public policy proposals, released findings showing that Warren’s wealth tax will raise between $2.3 trillion and $2.7 trillion over 10 years. That’s as much as $1.4 trillion less than Warren’s campaign estimates.

The analysis also concludes that the new taxes would cause the economy to contract between 0.9% and 2.1% by 2050 and says the new tax would reduce “private capital formation” enough to drive the U.S. economy’s average wage down between 0.9% and 2.3%, even affecting households not rich enough to qualify for the tax.

Maybe some intrepid reporter can ask the “I’ve got a plan for that” if she’s got a plan for how to respond after her original plans backfire horribly.

Warren has no shortage of them to sell, that’s for sure.

Share on Facebook Share on Twitter
Tags: Associated PressElizabeth Warrentax the richwealth tax