Warren buys full page ad in Adelson's NV newspaper showing how much wealth tax he'll pay

[Dennis Donovan]

Link to tweet

Jon Ralston @RalstonReports

The day after the debate, Elizabeth Warren bought a full page ad in Sheldon Adelson’s newspaper
saying Sheldon Adelson will pay $2.3 billion the first year of her wealth tax. I think that’s called chutzpah.



9:46 AM - Feb 20, 2020 · The Las Vegas Strip, Paradise

[MoonlitKnight]

1. President Warren has plans

The slayer of arrogant billionaires is coming.

[stopwastingmymoney]

20. Omg I'm so happy this morning! nt

[joost5]

32. Bravo to Warren!

It's a great ad. Very concrete, illustrative, you can tell she's a good teacher.

[soldierant]

61. You can also tell she's a good teacher

by observing her former students ... like, for example, Katie Porter.

[Warpy]

68. It might have been better if she'd said what that would leave him with

The latest I could find is that the poor man would have to make do with 35.4 billion dollars if he paid that tax.

That's what would put it all into perspective. Without it, she looks like she's stealing him blind.

The fucker can afford it, he'd never miss it. She needs to point that out. Pointing it s time for thes Robber Barons to invest in their own country just isn't enough. You have to make sure people know they can afford it--and by how much.

[trc]

74. She does

The amount of the tax she proposes is 6 percent of his total wealth.

[Warpy]

78. People are just not going to figure that out

Bold type, Liz, with all the zeroes.

People get suckered by Republican tax cuts because they don't look at their taxes and figure out what they'd save.

C'mon, you know this.

[PatrickforO]

75. She does. If you read the ad, it says this tax makes up only 6% of his

total wealth.

Of course, millions of Americans are incapable of doing the most basic arithmetic, not to mention algebra or geometry.

[Warpy]

77. I struggled with the fine print but didn't see it.

Besides, most people out in voter land are dumber than she thinks they are. She needed to spell it out in bold type with all the zeroes. That's the only way they'll get it. Even with calculators in the drawer, they're not going to know how to figure it out if they do jobs that don't require much math. Hell, they don't even know how to make change any more, the cash register tells them.

[PatrickforO]

73. I really like Katie, too. She's very good.

[marieo1]

53. Warren is fighting for all of us

i wish the billionaires and millionaires had to pay taxes every single year just like the rest of us do. And....I think there should be a limit to how much they can donate or contribute and write off. They only donate to what will benefit them the most, including Mike Bloomberg. They are not doing anything to benefit our country or the poor in our country, only to line their own pockets and bank accounts.

[redstateblues]

2. Good for her. She is not going to win the nomination though. Too little too late

[aggiesal]

19. 2 of 50 states is not too little too late ...

2 states with populations
Totalling only 4.512 Million out of 350 Million

Iowa - 3.156 Million
New Hampshire - 1.356 Million

does not disqualify a nominee.
(making sure I don't have a double negative)

[DemocracyMouse]

59. There you Warren people go again with those pesky facts!

😍

[aggiesal]

64. I'm sorry (sad face) ...

No, I'm not

[Bradshaw3]

29. Didn't Biden people say all along that he had it wrapped up?

With those kind of predictive powers you may want to lay off the assurances about the election.

[redstateblues]

58. I never said that. I like Warren. You honestly think

She is going to overtake Bernie? I hope it happens. I think she would have won in 2016 if she had run.

[Bradshaw3]

66. I think she has a chance

I too think she would have won in 2016.

[Frustratedlady]

3. Good! Adelson creeps me out.

I would guess a lot of that wealth wasn't legally obtained, but I may be wrong. I would think counting errors, from time to time.

[DBoon]

6. You are talking about the casino business

while regulated in Nevada to prevent overt criminal activities, sometimes "stuff happens"

[Frustratedlady]

8. Yeah, it's the "stuff" I was referring to. Just sayin'.

[leftieNanner]

12. He also has a casino in Macau

There may be different accounting requirements there.

[lunasun]

4. Wow yes put it in print , in case some do not get it

[still_one]

5. +++

[secondwind]

7. Wow! Love it!!

[DBoon]

9. She should run a version of this in all them primary states

I'd love to see a Geoff Palmer version for Los Angeles

https://en.wikipedia.org/wiki/Geoffrey_Palmer_(real_estate_developer) in case you are wondering.

[LAS14]

10. Wonderful!!!! nt

[Tom Rinaldo]

11. Excelent.

First and foremost, it is true and should be said. Second, Warren is all in trying to win the votes of NV caucus goers, which is what she needs to do to stay viable in this race. She can't just be a second tier also ran on Saturday. She is doing what she has to do to make her case now, when it matters most.

[PatSeg]

13. Oh yes, that is chutzpah!

That's one gutsy woman!

[jmbar2]

14. Just switched my pref to Warren.

I like Klobuchar a lot, but it's clear Liz runs away with it. You go girl!

[MoonlitKnight]

45. Welcome to the persistence

[grantcart]

48. Very clever

[uponit7771]

15. K&R

[Pepsidog]

16. Put these kinds of ads on television. How about the tax on Murdoch ?

[blm]

26. ✔️

That’s why I sent her some bucks.

Ads against corruption is exactly what I want to see.

[DENVERPOPS]

65. How come

she didn't use Bloomberg also? That would be a far more impressive figure..........

[defacto7]

17. Go for it Senator Warren!

[Rabrrrrrr]

18. It smacks a little bit of "Vote for me, and your state gets $2.3 billion!"-ism

which makes me wary.

[and please note: this is not an anti-Warren post - I really like her - I just don't like the implicit bribery in this ad.

and I also gotta wonder: has she actually considered how the wealthy are going to pay this "wealth" tax, especially those for whom the majority of their wealth is the stock value of the company they started? Is fair to make someone give up a portion of their creation, or to potentially give up their majority share and thus end up no longer being in control of their creation? I'm not at all convinced that it's fair. Bring back the inheritance tax and make it more punitive than it was before; and get rid of capital gains taxes and just tax all gains as straight up income - that's a much better option that stripping off some random percent of everyone's wealth every year]

[OMGWTF]

23. The bigger point is the rich haven't been paying their fair share and if they do,

THEY'LL STILL BE RICH!

[aggiesal]

25. I don't read it that way ...

To me, it's more like
look at the possibilities that my wealth tax could do
with just one $39.6B billionaire.
Find 49 more, and all states COULD have what she listed.

What I'm afraid of, is that all the wealthy will move their Billions to
off shore accounts to keep from being taxed.

I'd also like to have implemented the micro-tax on every trade done
on the stock market. Something like 0.0001¢ per share of stock traded.
So 100 shares traded would cost 0.01¢ (1 cent)

[Hermit-The-Prog]

30. The U.S. market is still big enough that all billionaires want to play in it.

I'm not talking about the stock market, either.

[aggiesal]

33. I get what you're saying ...

they'll play here, but they'll pull an Apple, where Apple says they're an Irish company
although they're headquartered in Silicon Valley, so they can avoid paying US taxes.

The Billionaires will play here, but the majority of their wealth will be in
Cayman or Swiss banks, to avoid paying US taxes.

[Hermit-The-Prog]

35. Easy, with sensible legislators: If you want to play here, pay here.

Part of the reason we are where we are is because we've allowed multi-national corporations to extort us.

[BigOleDummy]

38. Exactly

To the point and very clear. I have nothing to add. Well said indeed

[aggiesal]

63. +++ ...

Here in California, we passed Prop 13 so that the elderly do not lose
their long time home, because property taxes were increasing to the
point the elderly could no longer pay with a fixed income.

So a system was set up so that the property tax is based on the price
of the home when purchased, not the current appraised value.

At the time when Prop 13 was passed, commercial property paid
about 80% of the property taxes collected, while residential paid only
about 20%.

But the corporations worked around this by placing the property that
they owned into a separate division of the corporation. When the
corporation was sold, the property would remain in the separate division
so that the new owner didn't have to assume the new appraised value.
They could continue to pay the same property taxes based on the
value of the property when the original corporation purchased it.
(i.e. a lot lower!!!)

Now the residential property taxes are about 80% collected while the
commercial property taxes are about 20% of the total collected.

Gov. Newsom wants to change this by re-appraising the commercial
property every 3 years. Good for him.

[Rabrrrrrr]

72. I think a tax on stock trades makes a lot of sense, too.

Even at the rate you suggest, that would be $billions - with about 6.5 billion trades/day, that's $65 million each trading day, times 200 or so trading days a year... $13 billion.

[aggiesal]

76. Current student loan debt ...

as of 2019 is $1.41 trillion.

Maybe the tax is too low?

[LanternWaste]

55. Inferred. Not implied.

" I just don't like the implicit bribery in this ad."

Inferred. Not implied... as that interpretation is wholly on you and you alone. Hence, an inference.

[calimary]

21. Like it!

[Doremus]

22. Does anybody have the link to her fundraising page

I’m on my cell phone and can’t locate it. Thanks in advance

[OMGWTF]

24. https://elizabethwarren.com

[MontanaMama]

27. I love this. And...I work in a field

where 90% of my customers are RW to RWNJ business owners from every state in the US. The vast majority of these folks believe Elizabeth Warren is coming after what little profits they make in their cheesy little businesses. When I offer that the only folks that might have to worry at all about her wealth tax, would be the likes Warren Buffett, Jeff Bezos, Bill Gates and Oprah...they respond “that’s what she WANTS us to think...” or...”that’s not what I heard on the news”. I fear there is no convincing them otherwise.

[TryLogic]

42. Tell them to reconsider where they get their news.

[MontanaMama]

52. Yeah...

That's a given.

[Steelrolled]

44. You are right.

Bragging about how you are going to tax people is like playing with fire.

[crimycarny]

46. And this is why an ad like this is worrisome to me

If I learned anything from Trump winning the general election, it's that people can be convinced of pretty much ANYTHING if there is enough money being put into a campaign to convince them. The educated electorate knows who Sheldon Adelson is, the vast majority don't. I fear the average easily led American--not just your rich customers who are RW--would read this and think "wow, that's a lot of money in taxes. How much does that mean I'm going to have to pay? She's going to raise my taxes by a fortune!"

Our side has to do a much much better job of fighting back against this narrative. So while I like Warren's bold approach, she needs to make sure she hammers and hammers and hammers on how taxes for middle to lower-income earners won't be going up.

[MontanaMama]

54. Yes. These folks confuse their own small business

with tRump the self professed "businessman". He has convinced them that they are like he is. They're big time "business people". Trust me when I tell you that most of the folks that buy my product don't know what their hourly overhead is...they don't know what it costs them to keep the doors open and the lights on. It is unbelievable. It actually doesn't surprise me that MF45 duped them like he did. I don't like to talk smack about my customers...after all, they're buying my product but damn...I'm not saying anything that isn't true here.

[Srkdqltr]

28. The candidate who peaks closest to the election has the best chance.

If they peak in Feb. They could be gone in Nov.

[marieo1]

31. Hooray!!

This is great - it's time for some of these billionaires to be taken to the woodshed. Think how many needy people could be helped by this money, how much research could be done with this money. Maybe if they had enough money they could come up with a cure for cancer, aids and other diseases, rather than building a wall to keep people out. Billionaires donate to their favorite charities at tax time and then.............use it as a tax write-off!! Disgusting......

[volstork]

34. Warren is my preferred candidate,

but they (the powers that be) will never allow her to be President, much as they would never allow Hillary to be President.

[TryLogic]

41. The powers that be??

The ultimate power is with voters. VOTE!

[volstork]

49. I vote every time the polls are open and have done

since I was 18. However, the repukes have seen to it that gerrymandering, voter suppression, etc consistently allow for minority rule. Ask yourself who profits by trump's election. Who profited by W's election? By GHW bush's election. The people with money are able to use that money to essentially buy votes. THEY are the powers that be.

[JustAnotherGen]

36. I like that!

[Qutzupalotl]

37. A wealth tax is a one-time seizure.

How long will that fund these programs? How will she pay for them on an ongoing basis with income tax changes? I don’t doubt she has that worked out, but I wish the ad answered that.

I also think people will get the impression that everyone’s taxes will go up — I know that’s not what she’s proposing, I just wish she would say that explicitly. People might think they’re next for the soaking.

[TryLogic]

40. I am sure her wealth tax is yearly.

Great ad!

Showing the numbers makes it much more realistic and believable.

Those numbers indicate his wealth is $115 Billion.

[Qutzupalotl]

43. You're right. It was originally pitched as one-time, but is now annual.

[LudwigPastorius]

39. In my line of work, I run into some high-net-worth individuals occasionally.

I don't usually talk politics or elections with them, but sometimes it happens.

They are all deathly afraid of Elizabeth Warren becoming president, and I love that.

[maxsolomon]

47. Pretty much illustrates why it will never happen.

2.3 Billion? "So unfair!", thinks the middle class who used to care about the Deficit and National Debt.

America has always been an Oligarchy and that won't change, even if Dems take the Senate.

[LudwigPastorius]

50. "America has always been an Oligarchy and that won't change, even if Dems take the Senate."

I'm curious, if you believe that to be the case, why do you even bother to pay attention to, or comment on, politics or elections at all?

[maxsolomon]

57. There are other aspects to politics besides wealth inequality.

The environment, for instance. Legalization of drugs, the homeless, Gender equality, Abortion rights, International relations, etc.

Do you care about anything besides that issue?

Do you think we're on the cusp of "Not-Oligarchy"?

[DBoon]

51. Please Please do this elsewhere

I'd love to see an ad in LA highlighting pro-Trump real estate sleaze Geoff Palmer

[Faux pas]

56. Kickin'

with unbridled enthusiasm!

[sandensea]

60. To say nothing of his pal Paul Singer

$2.3 billion is about how much he stole from Argentina in 2016.

Getting back 6% is the least we should do.

[tclambert]

62. That will still leave him with over $30 billion, so he should

be able to afford a chicken salad sandwich for lunch whenever he wants.

[bluecollar2]

67. As a Raiders fan...

I approve!!!!

[DallasNE]

69. Is That A 10% Rate? n/t

[hughee99]

70. I'm not sure why she's stopping at just $2.3 billion a year.

She should take it all in year 1. That way, we can invest more in opportunity for the next generation.

[PatrickforO]

71. That's great.

Sheldon and other billionaires DO need to invest in American families. In fact, they should make these investments until they are only millionaires and not billionaires.

Because, you know, Sheldon and all the other billionaires are parasites. NO ONE needs that much money. NO ONE. Not when we have people going hungry, people who don't have health care, and millions enslaved by student debt.