Bernie Sanders, Elizabeth Warren reveal wealth amid tax push

Channel: Fox Business
Published: 04/11/2019

Description
Wall Street Journal associate editor John Bussey, Fox News contributor Jessica Tarlov and NYC Council Minority Whip Joe Borelli (R) on how Sen. Elizabeth Warren (D-Mass.) and Sen. Bernie Sanders (I-Vt.) released their tax returns and whether they are hypocrites for wanting to raise taxes on weal...



Transcript
One group that seems to be throttled right now or will be at least if some of the democratic presidential candidates have their way a millionaire's and better elizabeth warren bernie sanders they're all disclosing their millionaires and, in the case, elizabeth warren. She is going after them with a vengeance which would include herself, i guess, by putting up a surtax on that and corporations. Let ...
S get the read on all of this: from republican new york city council majority whip minority whip, i should say in his dreams: we've also got democratic, strategist, jessica tarlov. That scenario would be her nightmare. The associate editor john bossy right down the middle, so john. I edit with you on thisso. I want to begin with you on what to make first of all about the democratic attack on wealth and we'll go into some of their plans, but more to the point. At least they'd be zooming themselves, because so many of these guys are so wealthy yeah. You could argue that gives some extra credibility right to that they could be ultimately taxing themselves and buffett. Also says warren buffett says you know, i'm not paying enough taxes. My to these may be millionaires, this may be successful book writers or elizabeth warren's and gun modes from book, world and bernie sanders says to say yeah right, i wrote a book, you know you mit, you write abest-seller you to could become a millionaire. So, regardless of how they made their money, their issue is going to be i'm not speaking for the millionaires, i'm speaking for the people who are not making a million dollars a year median income.

So, half of that above half of that below and the median income is about ninety seven thousand in the united states, a median household wealth - that's the group that they are focusing on. That'S where they're gon na try to get their sort of political points with and that's what the money is right. That'S a you know. It separately, elizabeth warren's plan to tax corporations, a surtax on those that try to avoid taxes that couldraise trillions over. Oh, it certainly can and more the government raises them. Will the government spend? I think this points out a real hypocrisy for a bunch of candidates who have as chewed capitalism and who have really used their government office to grow their own wealth. I mean if elizabeth warren was simply a law school professor peddling textbooks. She would not be making the three hundred fifty thousand dollars from her book. The reality is for most americans. They can't write best-selling book. They have to work the old-fashioned way day in and day out, and they need tax relief, not higher taxes. You know just a my only problem is, i said: there's a both partiesfault here is that they'll come up with schemes to to raise money, but but not to save money, not about to address the underlying spending, and i think that never gets discussed ever no well.

It does for a second where everyone pays lip service to it, and then they go about their business spending. I think democrats are a little bit more by the book and being honest about the fact that they don't fear spending in the way that republicans have acted. Like their fiscal hobbs and a fair criticism, i think you joe i'm so glad that you were here for this moment, but to your point about hypocrisy, joe and what they're gon na do withthis. I actually don't think that democratic voters are going to have a problem with it. First of all, bernie sanders has a cult-like following well, they never have a problem. Well, i think. Well, they certainly did there were people who had problems with hillary clinton and called her a corporatist shell and people go after cory, booker and say no. When you go after their money right when you go after getting more money from those same people right, they will. I think that they are genuine in saying i'm happy for you to tax me more, like warren buffett's type of bill gates has spoken about this people at all. The billionaires who have taken the givingpledge, for instance, are all on board. With this. There is a difference between billionaires and well.

I think that is just the line that people are going to draw here as well. To say you know not a groaner writes the book, obviously is gon na become a millionaire, but bernie sanders is in his mid 70s right mid late 70s, something like that has worked a long time. Elizabeth warren as well. Also, a lot of these people have spouses who could have earned money. People go after nancy pelosi all the time she has a husband who's. Incredibly, successful, there's nothing to do with her office visit important point, because, let's remember who put donald trump in thewhite house as a billionaire. And it was a lot of people who did not have a college education who were earning on the lower end of the scale and they felt that he was gon na, be a good advocate for them. So to a lot of democrats and say i really don't care about their personal wealth. I want an advocate for me. So what are they saying, but joe's points, a really good one, which is that it's going to be hard for them to come down as hard on this system of capitalism, when they're benefiting from as much as they are they gon na have to be careful of Sort of navigating that trip forgetting this isan issue that was almost adjudicated in the 2016 election. Where democrats made donald trump by virtue of the fact that he was successful and a millionaire, they tried to paint him as something billy will make sure that emblem as something evil and something that that is not representative of the american public. There'S something else going on here and that these guys of you said they're, i'm tracking polls and they're surveys they put out there, which plays well resonates, no doubt with the base.

But do you think in the general election it would resonate for mondale? I don't think it did. President trump used very similar campaign rhetoric to bernie sanders. They were the two populousin this and president trump wasn't now. President trump, then candidate trump was saying: i'm gon na go after my own friends. I'M gon na go after the hedge fund, guys and they're not gon na like me much for it, but i'm still gon na do it, but he never won it because he's a liar, but but he didn't know it so so do you think that any of These democratic candidates, who they will go on a surtax on wealth, they will go with a trillion dollar hike in corporate taxes has the most elaborate and impressive policy shop of any of the candidates. She has explained how she's going to pay for every single thing on there i do notthink she will back down from any of it. In contrast, though, you got the medicare for all plan from bernie sanders yesterday, which still doesn't have the highway will figure it out when we get to it at some point in the future right. So that's assuming you can raise that kind of money. Where'S all sort of them well, elizabeth warren, just announced 7 % additional tax on corporations. Red are making a certain amount of money, a large amount of money. She wants to tax the ones that are making the most, and you know over 100 million right yeah, and so that's where this ends up. It wants to keep them here.

If that happens. Well, shewould argue a great big market and they were here before when their tax rates were significantly higher than was post tax out form. You know it's fine, you know with all this talk and popularity of democratic socialism and the highlighting of countries in scandinavia as models. We never get to the point where we start talking about their pro business models and their actual low corporate tax rates before trump took office. I think fiddlin had a far lower tax rate than the united states. I mean this is the model that should be based. If we're going to have the negative sides of social democracy, which is the tax individuals, because you said you brought up democraticsocialism and it's important to highlight, there's only one democratic socialist running for president and that's bernie sanders. Elizabeth warren has been interviewed over and over again about her outlook on this, and she says i am a capitalist, i believe in the system, but it needs to be just capitalism now, mayor people's, because if that's the case then know that about you who was the Real spokesperson for the democratic party right now, is it elizabeth warren or is it the far left people like like ilana now elizabeth warren is in far laughs. This is a revelation to me. Bernie sanders. I think i do wish we had more time blessedly. We do not seriously thank youall very, very much.



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