5th Democratic Primary Debate: on Tax Reform


Cory Booker: No wealth tax, but raise estate tax

BOOKER: I think we all agree that we need to bring in a lot more revenue in this country. We have a real problem with the tax rates, tax loopholes, tax cheats. I don't agree with the wealth tax, the way that Elizabeth Warren puts it, but I agree that we need to raise the estate tax. We need to tax capital gains as ordinary income. We as Democrats need to fight for a just taxation system. We Democrats also have to talk about how to grow wealth.

WARREN: With that two-cent wealth tax on the top one-tenth of 1% in this country: we can provide universal childcare. We can raise the wages of every pre-schoolteacher. We can make college tuition-free for every kid.

BOOKER: If I am president, we're going to have a fair, just taxation where millionaires pay their fair share, but we're going to have pathways to prosperity for more Americans. We're going to see a change in what we see right now. Small businesses, new startups are going down. We need to give new entrepreneurs access to wealth.

Source: November Democratic primary debate in Atlanta Nov 20, 2019

Elizabeth Warren: Your first $50M is free and clear under my wealth tax

WARREN: Today, the 99% in America are on track to pay about 7.2% of their total wealth in taxes. The top 1/10 of 1% that I want to say pay two cents more, they'll pay 3.2% in America. I'm tired of freeloading billionaires. I think it's time that we ask those at the very top to pay more. A two-cent wealth tax is a tax for everybody who has more than $50 million in assets; your first $50 million is free and clear. But your 50 millionth and first dollar, you've got to pitch in 2 cents. Doing a wealth tax is not about punishing anyone. You built something great in this country? Good for you. But you did it using workers all of us helped pay to educate. You did it protected by police and firefighters all of us helped pay the salaries for.

Sen. Cory BOOKER: We all agree that we need to bring in a lot more revenue in this country. We have a real problem with tax loopholes, tax cheats. I don't agree with the wealth tax, but I agree that we need to raise the estate tax.

Source: November Democratic primary debate in Atlanta Nov 20, 2019

  • The above quotations are from Democratic Primary Debate: November 20th in Atlanta, hosted by MSNBC.
  • Click here for definitions & background information on Tax Reform.
  • Click here for other issues (main summary page).
  • Click here for more quotes by Tom Steyer on Tax Reform.
  • Click here for more quotes by Pete Buttigieg on Tax Reform.
2020 Presidential contenders on Tax Reform:
  Democrats running for President:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Mayor Wayne Messam (D-FL)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
CEO Tom Steyer (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)

2020 Third Party Candidates:
Rep.Justin Amash (L-MI)
CEO Don Blankenship (C-WV)
Howie Hawkins (G-NY)
Gov.Gary Johnson(L-NM)
Howard Schultz(I-WA)
Gov.Jesse Ventura (I-MN) 		Republicans running for President:
Sen.Ted Cruz(R-TX)
Gov.Larry Hogan (R-MD)
Gov.John Kasich(R-OH)
V.P.Mike Pence(R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump(R-NY)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld(R-MA & L-NY)

2020 Withdrawn Democratic Candidates:
Sen.Stacey Abrams (D-GA)
Mayor Bill de Blasio (D-NYC)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Adm.Joe Sestak (D-PA)
Rep.Eric Swalwell (D-CA)
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Page last updated: Dec 23, 2019