- only 2% over $50m?
- only 3% over $1B?
I have a Washington secret to share with you. Make that two.
First, tax revenues have never been higher. Call me stupid, but maybe spending and long-term liabilities are more of a problem.
Second, politicians like to propose new types of taxes because it sparks a flood of lobbyist money to their campaign. Warren will milk this proposed plan for lobbyist $ just like every other politician would do.
Overall, it's tepid. Ocasio-Cortez and Harris will outflank Warren's plan. For instance, Ocasio-Cortez has already proposed a 70% tax on income. Warren's plan looks like warm milk compared to what they are doing.