Warren doesn't just frighten billionaires - she scares the whole establishment [View all]

[BlueMTexpat]

No wonder the wealth tax turns the Gray Lady white as a sheet: it will help the needy and its author is a good bet for president

https://www.theguardian.com/commentisfree/2019/nov/17/elizabeth-warren-billionaires-wealth-tax-new-york-times

...
But wait. In order to arrive at their conclusion, the authors of the study make two bizarre leaps of economic logic. They assume, first, that wealthy Americans would save and invest less in order to avoid accumulating wealth that would be subject to the tax, and that this drop in investment would retard economic growth.

Baloney. If we’ve learned anything over the last 40 years it’s that the savings and investments of wealthy Americans do not necessarily trickle down in ways that grow the economy or benefit most Americans.
...
The study also assumes the revenue raised by a wealth tax will go toward reducing the federal debt. It totally disregards what the wealth tax would finance, such as Warren’s proposals for universal childcare, increased education funding, student loan forgiveness, green manufacturing and infrastructure.

This is no minor oversight. Warren has repeatedly argued that taxing the super rich is the fairest and most efficient way to pay for these critical needs.

Such spending, not incidentally, would spur growth. Enabling more parents to work, young people to become better educated, green technologies to take root, more access to healthcare, and the nation’s infrastructure to be upgraded, would improve productivity. ...

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This is an op-ed by Robert Reich. More at the link.

It is interesting to see how so many Dems seem to have forgotten how FDR's programs actually saved the country during some of its darkest days AND that his programs were not at all popular with the most powerful at the time.