WFB: A Nobel Prize-winning economist said the proposed “wealth tax” by Sen. Elizabeth Warren (D., Mass.) is probably a non-starter and could hurt her chances.
“Their proposals have no chance,” Nobel laureate Robert Shiller told Bloomberg at the World Economic Forum in Davos, Switzerland.
Warren, one of multiple contenders for the 2020 Democratic presidential nomination, told supporters in a fundraising email on Thursday that she was proposing a “Ultra-Millionaire Tax” on those with a net worth of over $50 million. Her advisers say the tax would raise nearly $3 trillion over 10 years, and Warren said the revenue could help with “rebuilding our middle class.”
Shiller, who teaches economics at Yale University, said he would advise putting in a plan in the future for such a tax to kick in if wealth inequality became “catastrophic.”
Asked if Democrats could run with such a policy and gain the support of middle America, Shiller said no. more here
The only Nobel-winning economist I listen to is Paul Krugman.
Not really.
“Nobel-Winning Economist says Liz Warren already blew her chances”
…if he won a Nobel in the modern era, he probably knows a thing or two about “blowing”…
As we suffer through this Trump economy I can’t wait until we can elect an economic genius like Warren.
Barf
This is the result of allowing women to vote.
James Woods on socialism vs. capitalism 😀
http://lucianne.com/images/lucianne/DailyPhoto/XN-JZ-LCOI-WW-KL.jpg
👍🏻
There isn’t a rich person out there who would allow his WEALTH to be taxed TWICE like this. They didn’t get rich by being stoopid.
@Jarhead Cracka:
Exactly right. Even the rare stoopid ones will immediately think “trust”.
“If you drive a car I’ll tax the street; If you take a walk I’ll tax your feet; If you want to sit I’ll tax your seat; If you get too cold I’ll tax the heat! ‘Cause I’m the TAXMAN! And you’re working for no one but ME!””
When Liberals and especially Liberal Celebrities start paying that 70% NOW, before its law, then I will think better of them.
I am safe though. I won’t have to.
Think better of them that is.