She offered no greater detail at the rally in Greenwich Village.
“We’re the wealthiest nation in the history of the world -- we can afford Medicare for All to save our people and a Green New Deal to save our planet,” she said. “We just need real investments in working people.”
On Monday, Warren’s wealth tax was welcomed with loud cheers. “We’re saying that if you make it really, really, really big, bigger than $50 million, then pitch in two cents so everyone else can have a chance,” Warren said. Her explanation of how America’s wealthiest would chip in to fund her plans was followed by a crowd chant of “2 cents! 2 cents!”
Most of her proposals would be paid for by the wealth tax, according to her campaign.
Her Social Security plan would impose a 14.8% tax on annual earnings above $250,000 (or $400,000 for joint filers), split evenly between employers and employees. It would impose a separate 14.8% tax on investment income.
A $500 billion affordable housing plan would be paid for by raising the estate tax. A Warren administration would raise $2 trillion for a Green Manufacturing plan with a corporate profits tax and $1 trillion over 10 years for 100% Clean Energy plan by reversing Trump tax cuts on the wealthiest individuals and giant corporations.
Her detailed proposals for recasting the economy have garnered support from a base of voters. Laying out an influential message and a clear vision may be enough for now to maintain Warren’s steady rise in the polls, said Democratic strategist Joel Payne.
“If you’re Elizabeth Warren, you now have enough equity in the bank with voters so she can afford to be less forthcoming with some of those details,” Payne said.
This article was provided by Bloomberg News.