Warren plays defense on wealth tax during debate

Warren plays defense on wealth tax during debate
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Now a leader in many polls, Warren suggested that candidates who don't support a wealth tax are prioritizing protecting billionaires — a comment that drew criticism from others on stage.
Warren said that her wealth-tax plan would raise enough revenue to finance a number of social causes, including universal child care for children up to 5 years, universal pre-K, raising wages for child care workers and teachers, and tuition-free college.
"My question is not why do Bernie and I support a wealth tax, it's why is it does everyone else on this stage think it is more important to protect billionaires than it is to invest in an entire generation of Americans," she said.
"No one on this stage wants to protect billionaires. Not even the billionaire wants to protect billionaires," she said, referencing fellow candidate Tom SteyerThomas (Tom) Fahr SteyerSanders official predicts health care, climate change will be top issues in fifth Democratic debate Poll: Biden holds 20-point lead in South Carolina Sanders reclaims second place in new 2020 poll MORE. "We just have different approaches. Your idea is not the only idea."
Warren then replied that taxing income won't be as effective as taxing wealth "because the rich are not like you and me" and make their money off their accumulated wealth. She said that Democrats win when they "dream big and fight hard, not when we dream small and quit before we get started."
Klobuchar responded that just because candidates have different ideas doesn't mean they're not fighting for regular people.
Businessman Andrew YangAndrew YangYang unveils plan to expand voter access Sanders official predicts health care, climate change will be top issues in fifth Democratic debate Panel: Dem candidates fear Tulsi attacks on debate stage MORE criticized a wealth tax, saying such taxes make sense "in principle" but noting that other countries have repealed their wealth taxes. He said he thinks it would be a better idea to impose a value-added tax.
Former Rep. Beto O'RourkeBeto O'RourkeDeval Patrick enters 2020 race O'Rourke says he 'absolutely' plans to stay in politics Krystal Ball: Buttigieg is 'the boomer candidate' MORE (D-Texas) said that he thinks a wealth tax is "part of a solution" for income inequality but that policymakers also need to lift people up.
"Sometimes I think that Sen. Warren is more focused on being punitive or pitting some part of the country against the other," he said.
Warren replied, "I'm really shocked at the notion that anyone thinks I'm punitive."
She added that she doesn't "have a beef with billionaires" but that the wealthy should pay more in taxes so that others have a chance at success.