Elizabeth Warren welcomes Michael Bloomberg to the race -- with a tax calculator for billionaires

Elizabeth Warren welcomes Michael Bloomberg to the race -- with a tax calculator for billionaires
Elizabeth Warren image via Screengrab

Billionaire Michael Bloomberg announced his presidential run Thursday. I absolutely love how Elizabeth Warren welcomed him to the race.


Sen. Warren’s campaign website now has a very cool tax calculator, so billionaires can calculate what they would pay under her Ultra-Millionaire Tax.

I actually tried it out: I clicked that I was a billionaire (yeah, right!) and chose the “Michael Bloomberg” option.

The tool set Bloomberg’s net worth at $52 billion

After just one more click, the tool responded.

WOW — YOU’VE GOT A LOT OF MONEY!

Your wealth puts you in the top 0.0002% of Americans.

Now you have the opportunity to invest some of it back into our society so everyone has a chance to succeed.

You’d pay $3.079 billion next year under Elizabeth’s wealth tax. This amount, which you likely won’t even feel, will help us invest in education from birth through college and help finance health care for everyone.

Good news - you’ll still be extraordinarily rich! And if history is any guide, if you do nothing other than invest your wealth in the stock market, it’s likely that your wealth will continue to grow.

This is a clever, absolutely ingenious move by Warren and her team, who are quick on their feet and always seem a step ahead of the competition.

#story_page_post_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}

Happy Holidays!