Elizabeth Warren stated last night & # 39; tired of freeloading billionaires & # 39; while defending her proposal for wealth tax during the Democratic debate.
The Massachusetts senator, who is one of the front runners for the 2020 nomination, said it was time to ask those at the top to pay more, while clashing with competing candidate Cory Booker. the plan.
Warren wants a two-percent tax on wealth above $ 50 million, rising to six percent above $ 1 billion, in a measure that she believes could yield nearly $ 3 trillion.
However, her plan has been criticized by billionaires and some economists who say that the super-rich will find ways to avoid it.
Proposal: Massachusetts senator Elizabeth Warren (photo) speaks during the Democratic debate last night in Atlanta, where she defended her proposal for wealth tax
Warren raised her wealth tax when moderators of the Atlanta debate asked how she would bring the country together after the Trump presidency.
& # 39; We want to build an America that works for the people, not one that only works for the rich, & # 39; she explained.
& # 39; Your first $ 50 billion is free and clear. But your fifty billionth dollar, you have to throw in two cents.
& # 39; This is the point. Doing a wealth tax is not about punishing someone.
& # 39; It's about saying that you have built something amazing in this country? Good for you. But you did it with employees who helped us all pay to teach.
& # 39; You did it with – you get your goods on roads and bridges that we have all paid for. You did it protected by the police and fire department for which we all paid the salaries.
& # 39; So if you make it big, if you make it really big, if you make it a tenth of a percent, you pitch in two cents so everyone gets the chance to make it. & # 39;
When asked about his answer, Senator Cory Booker from New Jersey said he disagreed with the wealth tax as Elizabeth Warren says.
Calling for a higher wealth tax and minimum wage, he said that Democrats should not only talk about how they can tax wealth, but also how they can offer more people opportunities to create wealth.
Criticism: New Jersey senator Cory Booker (photo) opposed Warren's wealth tax plan and said that democrats should talk about creating wealth instead of just taxing it
Leaders: Elizabeth Warren and Joe Biden (photo) are among the favorites for the Democratic nomination together with Bernie Sanders and Pete Buttigieg
Warren replied that her wealth tax could pay for & # 39; universal childcare for every baby in this country from zero to five years & # 39 ;.
& # 39; We can offer universal pre-K for every 3 year old and 4 year old in America. We can stop exploiting the women, mostly black and brown women, who do this work, & she said.
& # 39; And we can raise the wages of every childcare worker and nursery school in America. & # 39;
In a second response, Booker described the wealth tax as & # 39; cumbersome & # 39; and & # 39; difficult to evaluate & # 39 ;, suggesting it had not worked in other countries.
& # 39; Today, 99 percent in America are on schedule to pay around 7.2 percent of their total wealth of taxes, & # 39; Warren replied.
She ignored Booker's attempt to interrupt and continued: & # 39; The top tenth of a percent that I want to say pays two cents more, they pay 3.2 percent in America.
& # 39; I'm tired of freeloading billionaires. I think it's time we asked those at the top to pay more, so that each of our children got a real chance. & # 39;
Earlier this week, former Goldman Sachs CEO Lloyd Blankfein Warren accused & # 39; prominent billionaires & # 39; to slander & # 39; in an advertisement that several of them mentioned.
Line-up: Cory Booker, Tulsi Gabbard, Amy Klobuchar, Pete Buttigieg, Elizabeth Warren, Joe Biden, Bernie Sanders, Kamala Harris and Andrew Yang are in line for the debate last night
& # 39; Vilification of people as a member of a group can be good for its campaign, not the country, & # 39; he said.
He called the proposal for wealth tax & # 39; completely unworkable & # 39; and said it would require annual assessments of the value of an individual's estate.
Mark Zandi, chief economist at Moody & # 39; s Analytics, also expressed skepticism that the determination of the wealth tax will increase the required income.
& # 39; It is not hard to believe that billionaires will use all resources to prevent them from paying the tax, & # 39; he said.
National opinion polls show Warren in second place in the democratic field behind Joe Biden.
However, her position in the first caucus in Iowa has been weakened by a poll by Mayor Pete Buttigieg, South Bend.
According to the latest average, Buttigieg leads with 23 percent, with Warren in second place but fights for position with Joe Biden and Bernie Sanders.
Warren also has a lean polling lead in New Hampshire, according to the latest surveys.
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