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Fri Nov 22, 2019, 10:50 AM

 

Disney heiress endorses Warren's wealth tax, calls billionaires opposing it "idiots"

Abigail Disney, the heiress to the world-renowned entertainment firm, has endorsed the proposed wealth tax from Democratic presidential candidate Sen. Elizabeth Warren, slamming the wealthy people that are fighting the policy as “idiots.”

Speaking to CNBC’s Karen Tso Thursday, Disney criticized those opposing the proposal to protect their own fortunes.

“If you have a billion dollars and (you’re worried you won’t) make a hundred million dollars a year just by sitting on your couch at home, truthfully you’re kind of an idiot,” she said. “Money just makes money. It’s one of the hardest things in the world not to let it grow.”

She added it was “really important” to make the public aware that the ultra-wealthy would not have their spending power dented by Warren’s taxation manifesto.

“If it’s a 2% (or) 3% tax, it will in no way inhibit first of all, your buying power, and second of all, the growth of your buying power,” Disney claimed. “So I don’t understand what the hesitation is around a wealth tax, because it in no way encumbers a person who is already so far past being able to spend that money that could be so much better used.”

More at https://www.cnbc.com/2019/11/22/disney-heiress-endorses-elizabeth-warrens-wealth-tax.html
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Reply Disney heiress endorses Warren's wealth tax, calls billionaires opposing it "idiots" (Original post)
BeyondGeography Nov 2019 OP
blm Nov 2019 #1
BeckyDem Nov 2019 #2
blm Nov 2019 #3
BeyondGeography Nov 2019 #4
BeckyDem Nov 2019 #9
blm Nov 2019 #11
redqueen Nov 2019 #10
TidalWave46 Nov 2019 #5
LeftTurn3623 Nov 2019 #6
wysimdnwyg Nov 2019 #7
Hoyt Nov 2019 #8

Response to BeyondGeography (Original post)

Fri Nov 22, 2019, 10:56 AM

1. How much more do they need?

 

Some have greater fortunes than countries.
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Response to BeyondGeography (Original post)

Fri Nov 22, 2019, 11:00 AM

2. Good for her.

 

Most of them are absorbed by greed despite their charity.
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Response to BeckyDem (Reply #2)

Fri Nov 22, 2019, 11:03 AM

3. For some of them their 'charity' is a pedestal they've bought for their own

 

aggrandizement. The means to celebrate themselves annually.

These people wouldn’t hold up over two days working alongside Jimmy Carter.
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Response to blm (Reply #3)

Fri Nov 22, 2019, 11:05 AM

4. And in perpetuity

 

The Koch name is all over NYC cultural landmarks, Kravis at the Met Museum, etc.
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Response to blm (Reply #3)

Fri Nov 22, 2019, 01:45 PM

9. He is an alien to most of them.

 

Well said, blm.
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Response to BeckyDem (Reply #9)

Fri Nov 22, 2019, 07:03 PM

11. I worked with wonderful nonprofits for many years.

 

I know the difference between genuine charitable giving and self-glorification.
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Response to blm (Reply #3)

Fri Nov 22, 2019, 04:07 PM

10. Thank you for saying this

 

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Response to BeyondGeography (Original post)

Fri Nov 22, 2019, 11:13 AM

5. She is solid. I have seen a lot of her.

 

Love listening to her talk about wealth and basic economics. She is very smart and speaks in simple terms when needed, depending on the audience. If you don't watch all of the videos, please watch the first one.









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Response to BeyondGeography (Original post)

Fri Nov 22, 2019, 11:14 AM

6. I wish more people would speak out like this

 

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Response to BeyondGeography (Original post)

Fri Nov 22, 2019, 11:51 AM

7. This is the thing...

 

“If you have a billion dollars and (you’re worried you won’t) make a hundred million dollars a year just by sitting on your couch at home, truthfully you’re kind of an idiot,” she said. “Money just makes money. It’s one of the hardest things in the world not to let it grow.”

This is it. This is all anyone needs to understand. The people affected by Warren's wealth tax will earn more than enough to cover the tax - and then some - by simply putting their money in a basic money market fund. People act like that first $50M is all any of them have and that this tax will slowly take it all away. That is, obviously, completely false. And it gets to my biggest argument: These people have more money than they could ever spend in 10 lifetimes, yet it's not enough. They always want more, more, MORE.

“If it’s a 2% (or) 3% tax, it will in no way inhibit first of all, your buying power, and second of all, the growth of your buying power,” Disney claimed. “So I don’t understand what the hesitation is around a wealth tax, because it in no way encumbers a person who is already so far past being able to spend that money that could be so much better used.”

Sounds to me like Ms. Disney has her priorities in order.
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Response to BeyondGeography (Original post)

Fri Nov 22, 2019, 12:04 PM

8. There are a number of wealthy who have endorsed increased taxes. Question is how best to do

 

it -- increased capital gains, corporate rates, individual rates, estate tax, etc. -- how much MFA will really cost, how far down the income totem pole the increased taxes will have to reach when we get down to it, and whether mandated MFA -- whether you want it or believe it will work -- is a winner in general election vs. a Public Option.
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