Elizabeth Warren: ‘No’ Tax Increase on the Middle Class

Thursday during the Democratic presidential debate, Sen. Elizabeth Warren (D-MA), a candidate for the 2020 Democratic presidential nomination, laid out her ambitious plan to fund government programs and expand entitlements.

Following the debate, Warren told CNN’s Chris Cuomo there would be “no” increase on the middle class, just a 2% increase on top earners.

Partial transcript as follows:

CUOMO: The 2 percent on the top, I hear you about that. But what about the middle class? Could you do what you want to do with all your plans and not have a tax on the middle class?

WARREN: Sure.

CUOMO: Really?

WARREN: Yes. Look, I’ve got a housing — I’ve got a housing bill that will build 1.2 million new housing units, fully paid for —

CUOMO: No tax on the middle class?

WARREN: — with a corporate investment, agreeing — No, no. And I just came out with a Social Security plans today. Two-hundred-dollar increase across the board from everyone who gets Social Security and everybody who gets disability payments. It will literally lift millions of people out of poverty. And you know who’s going to pay for it? The top 2 percent.

This is about our country. We need to get some balance back. You know, let me just make one small pitch. We know from the data that the 99 percent last year paid about 7.2 percent of their total wealth in taxes. The top 1 percent, they paid about 3.2 percent.

If we call on them to pay a little more and then take that money and invest it in the rest of America, we can make this economy work for everyone. Not just some, but for everyone. And we’re going to make this democracy work for everyone.

Follow Jeff Poor on Twitter @jeff_poor

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