Analysis: Senator Elizabeth Warren Appears to be Distorting Reality in Order to ‘Sell’ Her Wealth Tax Proposal

Senator Elizabeth Warren (D-MA) recently revived her campaign proposal for a wealth tax on taxpayers with a net worth exceeding $50 million. Unfortunately, the plan retains the same defects as her previous proposals to tax wealth, along with the same distortions she used to defend it last time.

Warren’s proposal, introduced along with companion legislation in the House sponsored by Rep. Jayapal (D-WA) and Rep. Boyle (D-PA), would tax wealth above $50 million at a rate of 2 percent, and wealth above $1 billion at a rate of 3 percent.

Senator Warren has routinely presented her wealth tax proposal as a minor, moderate tax on the ultra-wealthy. Just as she did on the presidential campaign trail, Warren is describing her plan as a “two cent” tax. This dishonest framing allows Warren to pretend that the tax is small.

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Eight Kmarts to Close by Mid-December, Leaving Three Stores in State That Iconic Brand Calls Home

Eight Michigan Kmart stores, including several in Mid-Michigan will close, leaving only a trio of locations in the state to which the chain traces its roots.

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