ICYMI: Even House Democrats Threw Cold Water On Lie-A-Watha Warren’s Wealth Tax Proposal

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Posted: Aug 28, 2019 3:04 PM
ICYMI: Even House Democrats Threw Cold Water On Lie-A-Watha Warren’s Wealth Tax Proposal

Source: AP Photo/Paul Sancya

There is not a single popular item in the 2020 Democratic agenda. Not one. The issue where Democrats run the table—health care—is now up in the air because while the GOP may not have the best alternative plan, which more or less is still in production, the Democrats want to destroy private health insurance. It’s the only way to make Medicare for All work. That’s 100+ million plans. They want open borders and have supported giving illegal aliens health care. The lurch to the Left has caused everyone from former Obama adviser David Axelrod to comedian Bill Maher to warn that the Democrats could be blowing this with extremist positions.  

“It does seem if you’re running for president that you ought to take into consideration what the country wants,” said Axelrod last month during CNN’s Democratic debates. Medicare for All will lead to the mother of all tax increases for the middle class, but Sens. Elizabeth Warren (D-MA) and Bernie Sanders think that they can milk trillions of dollars from Wall Street, the wealthy, and Amazon. Not true—and even House Democrats are giving Warren’s wealth tax a cool reception (via The Hill):

…Democrats in charge of tax legislation on Capitol Hill have kept their distance from the plan, refusing to endorse the concept. They’ve instead focused on raising capital gains taxes and income taxes on the wealthy, as well as anti-poverty policies.

Rep. Richard Neal (D-Mass.), the chairman of the House Ways and Means Committee, which oversees tax policy, questioned how much revenue the wealth tax would actually raise.

“I think that one of the problems with it, when you examine it, is how much income does it generate?” said Neal, who in an interview with The Hill repeatedly pivoted to higher income and corporate taxes in response to questions about the wealth tax.

Sen. Ron Wyden (Ore.), the top Democrat on the Senate Finance Committee, demurred three times when asked if he supported the proposal.

Yet, NTK Network did find one person who supports this: Rep. Alexandria Ocasio-Cortez (D-NY). The publication added that Warren’s figures of $2.7 trillion being generated over a decade are based on total compliance, which is never going to happen:

But the bigger problem for Warren is that the $2.75 trillion she claims it will raise does not begin to pay for the other programs she’s proposed: student debt relief, universal access to pre-K, child care and increased pay for child care workers.

And you know what else is still a problem? It’s Warren culturally appropriating the Cherokee Nation for decades.