How Warren’s Wealthy Tax Works

Jonathan Alter explains in The Daily Beast:

Under Warren’s plan, inspired by Thomas Piketty’s influential 2014 book, Capital in the 21st Century, and drafted by Emmanuel Sanz and Gabriel Zucman of Berkeley, Americans with a net worth of more than $50 million would pay two percent a year on their wealth over that $50 million. American billionaires (who number around 680 right now) would pay three percent on their wealth over that $1 billion. In most years, two or three percent is far less than the appreciation of their assets. The vast majority of people paying the tax would still be getting richer every year.

Chipping in for Warren

Elizabeth Warren has announced that she be taking money from big donors. This is a move to differentiate herself from other Democratic candidates. She is not letting big money in politics influencing her campaign and policy. If you would like to help her campaign, don’t wait to donate.

Work vs. Stay-Home Parents

Meghan Kruger writes in The Washington Post:

Warren’s plan would dramatically increase demand for an already-limited number of day-care slots, as out-of-home care suddenly becomes “free” or much less expensive for millions of families. The plan would also be available to parents who stay at home with their children, encouraging families to use day-care services they don’t necessarily need.

Parents who choose to stay home with their kids not because they don’t need daycare, but because day care is too damn expensive. Right now the cost for day care is about $2,000 a month for one child. If parents have two young children, that’s almost $48,000 a year. Does it make sense for one of the parents to go to work just to pay for day care or better to stay home with their kids? When parents don’t have to worry about daycare they can go back to work.

With Warren’s plan, parents only have to pay seven percent of their income. If they make $100,000 a year. That’s only $7,000 a year.

When I brought this up to my wife, her question was how the government going to pay for all of this. It can be done through investment, benefits enhancement, and major system overhaul. I’ll let the expert explains them.

Warren Fights for the Middle Class

Let it be known that I am a strong supporter of Elizabeth Warren. She is an intellectual figure who has serious policy proposals. If you are considering her nominee for the primary, I urge you to zone out all the noise on her background. I highly recommend and encourage you to read her first book, A Fighting Chance, to find out for yourself how she has been fighting for the middle class. Let’s give her a chance.

Warren’s Fearlessness

George Zornick has a fantastic piece on Warren in The Nation. He writes:

What Elizabeth Warren has going for her is the fact that Democratic voters have never particularly liked Wall Street bailouts or big international “free-trade” deals. She, for one, won’t have to renounce her record to appeal to their beliefs. Her presidential campaign is a bet that someone who has been a strong critic of the political system and the Democratic Party can become the leader of both by being consistent, credible, and right.

Warren on Child Care

Paul Krugman explains:

The logic of the Warren plan is fairly simple (although some commentators are trying to make it sound complex). Child care would be regulated to ensure that basic quality was maintained and subsidized to make it affordable. The size of the subsidy would depend on parents’ incomes: lower-income parents would get free care, higher-income parents would have to pay something, but nobody would have to pay more than 7 percent of income.

Sounds logical to me.

Warren: A Major Intellectual Figure

Paul Krugman:

By the way, I don’t know whether Warren will or even should get the nomination. But she’s a major intellectual figure, and is pushing her party toward serious policy discussion in a way that will have huge influence whatever her personal trajectory.

Agree.

Why We Should Choose Warren Over Sanders

Moira Donegan writes in The Guardian:

Like Sanders, Warren has a long career of railing against the injustice of a country where the rich are getting richer and the poor are getting poorer. Unlike him, she has a proven track record outside of the Senate, helping to establish the Consumer Financial Protection Bureau during the Obama administration and writing the book – actually, writing several books – on how to help working families by making finance and debt laws more fair.

This one is important:

The fact is that Warren is to the left of Sanders on some issues, notably gun control.

I concur.

Minority Leaders Oppose Rao’s Nomination

Marcela Howell, Sung Yeon Choimorrow, and Jessica González-Rojas write in The Hill:

During her hearing, Rao stated that her op-ed position — “A good way to avoid a potential date rape is to stay reasonably sober” — was “just a commonsense observation.” While Rao issued a letter after the hearing insisting that she was not blaming survivors, she signed off on the Title IX changes regarding campus sexual assaults. Rao’s statements at the hearing and her work at OIRA reflect a lack of understanding that the systems of power and control can perpetuate rape culture.

Disturbingly, Rao has shown that she believes racial oppression is a myth. She has spoken derisively about affirmative action, suggesting that standards are dropped for “a few minorities.” More specifically, she referred to affirmative action as the “anointed dragon of liberal excess,” and said race, generally, is a “hot, money-making issue.” As organizations that fight for reproductive justice, including racial justice, we find this language to be deeply offensive and grossly out of touch with the realities our communities face every day. Currently, Rao is working with the Department of Housing and Urban Development to gut protections against housing discrimination based on race.

Rao also has espoused dangerous views on LGBTQ rights. In talking about activists for racial justice, gender equity and LGBTQ rights, she wrote, “Underneath their touchy-feely talk of tolerance, they seek to undermine American culture. … For example, homosexuals want to redefine marriage and parenthood.” As reproductive justice advocates, we believe that centering our intersectional identities enhances our society, rather than undermines it.

Word!

Warren is Officially In

Julie Pace wites in the Boston Herald:

Back in Iowa as a full-fledged presidential candidate, Democrat Elizabeth Warren took aim at President Donald Trump on Sunday, saying he “may not even be a free person” by next year’s election.

I am with her. Lock the motherfucker up.