Senate

Warren calls CNBC reporter’s ‘bluff’ on rich leaving US over wealth tax

Greg Nash

Sen. Elizabeth Warren (D-Mass.) called a CNBC reporter’s “bluff” after the reporter suggested that wealthy Americans would leave the U.S. over a new tax.

Warren appeared on CNBC’s “Closing Bell” on Thursday, in which she discussed how levying a two-cent tax on the richest families in America would raise enough money for causes such as universal childcare and universal free college.

After hearing her remark, host Sarah Eisen said the tax “might also chase wealthy people out of this country as we’ve seen has happened with, with other wealth taxes.”

“You just said how much we need the economy to be revitalized right now for companies to start adding jobs and not subtracting them anymore,” Eisen said.

 

Warren then pushed back on Eisen, saying “someone has to pay to keep this nation going right now,” and doubled down on her argument for taxing the “the top one-tenth of one percent” to fund more universal causes.

“What they want to do, is not only keep their wealth, they want to keep building their wealth faster than anyone else,” Warren said. “All I’m saying is can we have just, just a little fairness here? A two-cent wealth tax so that we can have universal childcare—”

“I’m just presenting the counter argument,”  Eisen said interrupting Warren.

“Well, how about a counter argument though, based on fact?” Warren responded.

“The wealthiest in this country are paying less in taxes than everyone else,” Warren said. “Asking them to step up and pay a little more and you’re telling me that they would forfeit their American citizenship, or they had to do that and I’m just calling her bluff on that. I’m sorry that’s not going to happen.” 

Tags CNBC Elizabeth Warren

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