Thread by @originalspin

Reporting like this without context is...problematic.

Cost of @ewarren’s “ambitious agenda”: $3 trillion over 10 years

Cost of @realDonaldTrump’s tax cut for corporations and the rich: $2.3 trillion over 10 years

Cost of Iraq/Afghan wars since 2001: $5.9 trillion and counting

https://twitter.com/myhlee/status/1131154919770218496

It’s not really that hard.

Cost of Trump tax cut: politico.com/story/2018/02/…

Cost of wars: cnbc.com/2018/11/14/us-…

Just cutting back these two huge “entitlements” would more than address @ewarren’s goals. Which “ambitious agenda” do you prefer?

Also maybe we should stop referring to it as a “wealth tax” and just call it a generous tip left by the ultrarich to our nation for prompt and conscientious service.

Thank you for your patronage, we look forward to seeing you again, valued customer!

Last note—the reason for taxing wealth vs income is the wealthy generate huge returns that don’t look like income (we work for salary; capital works for them instead). Private equity returns 16%/year for the wealthy; most people can only expect 2% ROI/year
cnbc.com/2018/09/25/wor…

One more last last point—conservatives always build the knock on effects of their tax cuts into their projections so that taxes don’t look like costs; they “generate growth” that offset them. But all of @ewarren’s policies will also generate growth, and much of it sustainable.

Universal pre-k & student debt forgiveness alone will have gigantic implications for our future economy; so will building affordable housing. Am betting the economic injection far outstrips corporate tax cuts used for stock buybacks and tax cuts for the rich that go into savings.