Big news, everybody. Now we know how Elizabeth Warren plans to plan to allocate all that big money from her wealth tax:
NEWS: Elizabeth Warren has now completely allocated the $2.75 trillion in expected revenue from proposed wealth tax.
—$1.25T: higher ed (tuition-free college, debt cancelation, more)
—$700B: universal childcare
—$800B: k-12 education, announced today https://t.co/NGSzLwRsRR— Josh Jamerson (@joshjame) October 21, 2019
This means she he’d have to find other ways to pay for future plans.
Worth noting: She has already come up w/ non-wealth tax $$ to pay for some other things — e.g., an investment tax on high earners to extended life of social security
— Josh Jamerson (@joshjame) October 21, 2019
To make room under the wealth tax for the $800B k-12 plan out today, Warren had to find alternative revenue for three plans previously covered by the wealth tax ($100B opioids, $7B small business, $20B on election security).https://t.co/NGSzLwRsRR
— Josh Jamerson (@joshjame) October 21, 2019
The new k-12 plan out this morning includes, over 10 yrs:
*additional $450B in Title I funding to boost schools with low-income students
*$200B in grants for students with disabilities
*$100B in other grants
*plus $50B for school infrastructure https://t.co/NGSzLwRsRR— Josh Jamerson (@joshjame) October 21, 2019
Oh, OK.
Of course, the lion's share goes to the top 20 percent. (Keep those upwardly mobile burbs trending blue!) And the largest portion of debt relief will go to doctors, lawyers and other post-grad elites. Social democracy for the managerial class. https://t.co/02vfkMpwnn
— Michael Brendan Dougherty (@michaelbd) October 21, 2019
Pretty neat, huh?
Is she running for Congress? https://t.co/2qMLertgW3
— Charles C. W. Cooke (@charlescwcooke) October 21, 2019
Doesn’t have to. Much like Kamala Harris, Elizabeth Warren seems to think that this sort of thing falls under the president’s purview (provided that president is a Democrat, of course).
But what about healthcare? Those things are important but surely healthcare tops all of them.
— Susan Brown (@SSweetBrown) October 21, 2019
So how does she pay for medicare for all?
— Mark the Finance Guy (@markaustinb2b) October 21, 2019
So… No money for health care? https://t.co/w1GtJSYp3e
— Pradheep J. Shanker (@Neoavatara) October 21, 2019
Don’t worry. She’s still working on that:
Also worth noting:
—Warren is using the wealth tax exclusively to pay for priorities around education/childcare
—She has said wealth tax would pay for lots of priorities but never claimed it could pay for M4A
—Yesterday in Iowa said a M4A plan is close
— Josh Jamerson (@joshjame) October 21, 2019
Honestly, this entire discussion is pretty pointless. As Elizabeth Warren — and proponents of her wealth tax — seem to forget:
Um. The wealth tax is unconstitutional. https://t.co/cqMp7LnAUh
— RBe (@RBPundit) October 21, 2019
But forget it. She’s rolling.