Warren: We Need the Wealth Tax To Be Able to Pay for Universal Child Care, Fight the Climate Crisis

‘It is the financially responsible thing to do, as well as the thing that produces the most equity in this country’

EXCERPT:

WARREN: "Well, you always want to remember, Stephanie, that billionaires have really loud voices in Washington, and a lot of legislators are like, well, you know, let’s do something else. And -- and keep in mind, when you say Democratic voters want to see us put in a wealth tax, the majority of Republican voters want to see us put in a wealth tax. This is a place where Congress is in one place and the American people are in a very different place. And I think the two principal reasons for that are the American people understand how unfair the current system is; 99 percent of America paid about 7.2 percent of their total wealth in taxes last year. That top one-tenth of one person, paid bout 3.2 percent. That is less than half as much. The second reason we need to get the wealth tax in, is this is how we have the revenues to be able to pay for universal child care and universal pre-k and community college and expanding Medicare, and fighting the climate crisis head-on. It is the financially responsible thing to do, as well as the thing that produces the most equity in this country. Ask those at the top to just trim back a little on their joyrides in outer space and spend some of that money on our babies so they get a good start and our seniors who need access to dental and vision and hearing care, please."

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