Billionaire Michael Bloomberg announced his presidential run Thursday. I absolutely love how Elizabeth Warren welcomed him to the race.
— Elizabeth Warren (@ewarren) November 7, 2019
Sen. Warren’s campaign website now has a very cool tax calculator, so billionaires can calculate what they would pay under her Ultra-Millionaire Tax.
I actually tried it out: I clicked that I was a billionaire (yeah, right!) and chose the “Michael Bloomberg” option.
The tool set Bloomberg’s net worth at $52 billion
After just one more click, the tool responded.
WOW — YOU’VE GOT A LOT OF MONEY!
Your wealth puts you in the top 0.0002% of Americans.
Now you have the opportunity to invest some of it back into our society so everyone has a chance to succeed.
You’d pay $3.079 billion next year under Elizabeth’s wealth tax. This amount, which you likely won’t even feel, will help us invest in education from birth through college and help finance health care for everyone.
Good news – you’ll still be extraordinarily rich! And if history is any guide, if you do nothing other than invest your wealth in the stock market, it’s likely that your wealth will continue to grow.
This is a clever, absolutely ingenious move by Warren and her team, who are quick on their feet and always seem a step ahead of the competition.