Biden allies are worried a Bloomberg candidacy could clinch the nomination for Warren

[crazytown]

Joe Biden allies are worried that a Mike Bloomberg candidacy could clinch the nomination for Elizabeth Warren

Joe Biden’s allies are becoming increasingly concerned that a Mike Bloomberg candidacy could take votes away from the former vice president and help Sen. Elizabeth Warren win the race for the Democratic presidential nomination.

Bloomberg’s political aides confirmed that he’s again considering entering the 2020 race, after he decided against it in March. Top Bloomberg advisor Howard Wolfson said Thursday that the billionaire former New York mayor is “increasingly concerned that the current field of candidates is not well-positioned” to defeat President Donald Trump next year.

Biden told reporters on Friday that he welcomes Bloomberg, a fellow moderate, into the race. Yet several of his supporters see the former mayor’s move as potentially giving an edge to Warren, a liberal populist.

“This hurts Biden tremendously,” said one of Gov. Andrew Cuomo’s outside advisors. Cuomo has encouraged his vast donor network to back the former vice president. “Even if he doesn’t get it,” this person added, “the whole thing plays that Biden is weak. It cements in people’s minds that Biden can’t make it work.”

https://www.cnbc.com/2019/11/08/biden-allies-worry-that-bloomberg-could-give-warren-the-nomination.html

[jcgoldie]

1. I don't know how much it hurts Joe...

... but it sure isn't going to take many supporters from our candidate!

[crazytown]

3. Bloomberg said he will spend $100 million

'a campaign the likes of which we have not seen before'

[INdemo]

11. If Bloomberg will spend 100 million why is he worried about a 2% Wealth Tax

He has not complained about Trump's tax give-a-way tax for the rich. Bloomberg would still have a tax break of nearly 18% That's right 18%.. Which probably means with a very good tax consultant he will pay 0 Tax

The deduction, which ranges up to 20% , will shower $40.2 billion in tax breaks on owners of pass-throughs — largely businesses owned by an individual or a partnership, or those "S" corporations that kick income and losses to shareholders for tax purposes — in 2018, the Joint Committee on Taxation estimated. The provision was included in the larger overhaul of tax rates enacted in December.

https://www.nbcnews.com/politics/politics-news/special-trump-tax-provision-gives-17-billion-break-millionaires-gov-n868511

[BlueMTexpat]

5. Per this article as well,

it appears that Joe and Pete have the most to lose from a Bloomberg candidacy.

Elizabeth Warren Couldn’t Be Luckier https://www.theatlantic.com/ideas/archive/2019/11/bloomberg-campaign-would-only-boost-elizabeth-warren/601660/

While I am not sure about that happening, I certainly concur that Bloomberg will take very few, if any, votes from Warren.

Anyway, we shall see.

[crazytown]

6. Yes I posted it here.

https://www.democraticunderground.com/1297491

If there one argument Elizabeth Warren is ready for, it's about billionaires trying to buy the government.

See also https://www.democraticunderground.com/1287340913

[BlueMTexpat]

7. Sorry for reposting that link

in your own thread!

But thanks also for posting the other link which I have Rec'd!

[crazytown]

8. The presence of a billionaire representing Wall Street

will, no doubt, boost turnout and Warren will benefit (a lot)

[BlueMTexpat]

9. That is what we all hope!

[crazytown]

10. The way I see it is this -

Warren is under fire for M4A, The presence of a billionaire changes the narrative - The problem with M4A is not Medicare, its Billionaires that don't want to pay a wealth tax. The average family will save $8K-12K a year. Billionaires will be contributing $3.5b etc.

The problem with 'Medicare For All who want it is that families will still be stuck with paying big bucks for insurance - whether it is private or the public option.

When asked if the figures add up - reply - I will not sign a bill that increases middle class taxes.