“. . . in the 2020 election, expect Trump and his campaign, who have had a hard time casting Biden as an extremist or a radical, to make attacks on Harris with sexist and racist undertones, cast her as an ultra-liberal Californian out of touch with Middle American values and suggest that voting for Biden in November means that Harris will be running the country for 12 years.”
“The biggest unknowns are around Harris herself and her electoral skills. Harris is a good politician based on these facts alone: She was elected senator in the nation’s most populous state and in a country with a lot of race and gender discrimination, Harris is the second Black woman ever elected to the Senate, and arguably the first to be a serious presidential candidate. That said, it’s still not clear if she is a particularly strong politician on the national stage, and therefore if she will be that helpful for Democrats in the No. 2 slot in 2020 or as the main candidate in a future presidential election.”
“Sixty-three percent of Americans believe ‘upper income people’ pay too little in taxes, according to a new survey from Morning Consult. The poll also found that 61 percent of Americans either “strongly” or “somewhat” favor 2020 Democratic presidential candidate Elizabeth Warren’s tax plan, which would levy a new tax on households with a net worth of $50 million or more.”
Fund those Roth IRAs friends, like the ocean surface, taxes are going to rise.
“Warren’s tax plan has been described as an “ultramillionare tax” that aims to make the rich pay taxes on accumulated wealth. It would place a 2 percent tax on households whose net worth exceeds $50 million and then an additional 1 percent (so 3 percent total) on those worth more than $1 billion. The plan has faced some criticism, including claims that it’s unconstitutional. Interestingly, however, the support for the plan appears to be somewhat bipartisan, according to the Morning Consult poll: 74 percent of Democrats and 50 percent of Republicans said they strongly or somewhat favor the proposal.”
However, as Paul Sullivan explains here, Warren’s proposal will be very difficult to implement. Just to be safe though, I’m going to do everything in my power to keep my net worth under $50m.