Warren to Schultz: Ridiculous is billionaires who think they 'can buy the presidency'

Sen. Elizabeth WarrenElizabeth WarrenThe Memo: The center strikes back Centrists gain foothold in infrastructure talks; cyber attacks at center of Biden-Putin meeting Democrats have turned solidly against gas tax MORE (D-Mass.) responded to former Starbucks CEO Howard Schultz on Tuesday after Schultz blasted her plan to raise taxes on wealthy Americans as unfeasible.

Her comments came after the former CEO told NPR's "Morning Edition" on Tuesday that Warren's plan for a special 2 percent annual tax on Americans whose net worth exceeds $50 billion is "ridiculous" and nothing more than a “good headline."

"She knows for a fact it's not ever going to be passed," he claimed.

"What's 'ridiculous' is billionaires who think they can buy the presidency to keep the system rigged for themselves while opportunity slips away for everyone else," the Massachusetts senator responded.

"The top 0.1%, who'd pay my #UltraMillionaireTax, own about the same wealth as 90% of America," she continued. "It's time for change."


Warren unveiled the tax plan as part of her policy slate for a potential 2020 White House bid. She launched a presidential exploratory committee earlier this month.

She claimed that economics professors Emmanuel Saez and Gabriel Zucman say the tax will raise about $2.75 trillion over 10 years.

“That’s the kind of money where we could pay for child care, high quality child care, for all of our kids,” Warren told MSNBC last Thursday. 

“It’s the kind of of money where we could do real relief on student-loan debt. It’s the kind of money where we could make a real start on a Green New Deal. It’s the kind of money where we could bring down the cost of health care," she added.