Warren's original plan included the 2% tax on net worth over $50 million and a 3% tax on net worth over $1 billion. But she later introduced a plan to pay for Medicare for All that included increasing the higher threshold tax to 6%.
However, some economists have questioned whether her plan would raise as much as she expects. If implemented in 2021, the taxes would raise between $2.3 trillion and $2.7 trillion over 10 years. That's about $1 trillion to $1.4 trillion less than the Warren campaign's estimate. The wealth tax would also reduce gross domestic product in 2050 by about 1-2%, depending on how the money is spent.
Warren became the subject of increased scrutiny and rhetorical attacks from the right in January 2019, after she declared she was in the running for the Democratic nomination for president in 2020. Against that background, a viral meme re-emerged on social media:
In reality, Warren did not make these remarks. Warren was making a point about the relative safety of the procedure: On 24 July 2018, in Marie Claire magazine, Warren wrote: "When abortions are illegal, women don't stop getting them--they just risk their lives to do it. Today, thanks to Roe, getting an abortion is safer than getting your tonsils out. Before Roe v. Wade, many women turned to back-alley butchers to end their pregnancies."
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The above quotations are from Fact-checking on 2020 Presidential, Gubernatorial, and Senatorial campaigns.
Click here for other excerpts from Fact-checking on 2020 Presidential, Gubernatorial, and Senatorial campaigns. Click here for other excerpts by Elizabeth Warren. Click here for a profile of Elizabeth Warren.
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