Elizabeth Warren's proposed tax on enormous fortunes explained

[Qutzupalotl]

2. Thsnks for this.

I am of two minds on this issue. It makes economic sense to free up capital that is more or less stagnated in less active investments, provided the benefits go to low- and middle-income people. They in turn will spend and thus stimulate the economy more directly, creating demand and fueling growth.

Politically, this will be a tougher sell. This will be seen as goverment “taking” or “confiscating” wealth — which it is — and spun as “punishing success.” We will have to counter that the move is intended to punish hoarding wealth and provide balance to a system that disproportionately benefits the wealthy at the expense of the poor, who are currently getting exploited.

Good on Warren for having the courage to take a bold stand. If anyone can articulate the merits of this proposal and counter the objections, it’s her.