“It’s enough for universal child care. It’s enough for universal pre-k. It’s enough to make sure that every baby in this country has good care and raise the wages of every child care worker and pre-school teacher in America,” she added.
“You didn’t answer me!” Kernan interrupted. “Make it 10 times as good!”
He went on to say that it looked like she was trying to change “the rules of the game” on people who have paid their taxes while accruing their wealth, and that people “would rather do really good things with the money” than give it to the government.
He reiterated his original question, asking, “Why not make it 5% or 10% on people that are really loaded?”
“I’m loving this morning. I cannot believe that I’ve gotten you to say that we should tax the rich more, Joe,” Warren responded jokingly.
“This is just like we do on real estate taxes. We say every year, not as a punishment, you pay real estate taxes. And we want to make sure that those who have, pay a percentage. Now I hear you about the percentages … The point I’m trying to make is we can make a modest, just a modest change and those at the top would still not be paying as much of their wealth in taxes as the 99%, and it would be transformative … I think it’s a great place to start,” she concluded.
Warren introduced the proposal Monday, along with two House co-sponsors. Tax revenue generated from the bill would go to education and infrastructure, according to a statement released by Warren. Multiple analyses on the proposal found that it could bring in trillions of dollars in revenue and potentially lower GDP.