Sen. Warren Defends Wealth Tax: I Am Not Trying ‘to Confiscate Everything’

WARREN: “The other part of this is, did he sell stock in order to buy his $300 million yacht? I don’t know. I don’t know the answer here. But I do know that the billionaires — we’ve seen it, the billionaires are not paying based on their wealth. They have figured out lots of schemes, how to take advantage of our tax code so that they are — Jeff Bezos pays taxes at the same rate as a Boston public school teacher. And that makes no sense at all. We need a tax system that truly accounts for the fact that there are people —”SORKIN: “Right.”WARREN: “— who have amassed huge wealth — and I’m not — I’m not looking at trying to confiscate everything they’ve got. A two cent wealth tax, two cents every year on what they’ve got.”

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Sen. Warren Defends Wealth Tax: I Am Not Trying ‘to Confiscate Everything’‘Jeff Bezos knows how to work the system’News & Politics,Money & MarketsEXCERPT:WARREN: “The other part of this is, did he sell stock in order to buy his $300 million yacht? I don’t know. I don’t know the answer here. But I do know that the billionaires — we’ve seen it, the billionaires are not paying based on their wealth. They have figured out lots of schemes, how to take advantage of our tax code so that they are — Jeff Bezos pays taxes at the same rate as a Boston public school teacher. And that makes no sense at all. We need a tax system that truly accounts for the fact that there are people —”SORKIN: “Right.”WARREN: “— who have amassed huge wealth — and I’m not — I’m not looking at trying to confiscate everything they’ve got. A two cent wealth tax, two cents every year on what they’ve got.”Video filesFullCompactSort byDateSummaryRelevancePopularityPer page81216Audio filesFullCompactSort byDateSummaryRelevancePopularityPer page81216Recipient e-mailMessage (optional)Preview

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