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U.S. Senator and Democratic presidential hopeful Elizabeth Warren said while she believes in capitalism, she supports capitalism that comes with fair rules and taxes on the ultra-rich.
Warren said 'capitalism without rules is theft' when she criticized companies that build their business models on cheating people. Her wealth tax proposal suggests a 2 percent tax on household assets in excess of $50 million and a 3 percent tax on fortunes above $1 billion. Skeptics say the wealthy could hide their assets overseas or mask the true value of their wealth.
Warren responded by saying the IRS would closely scrutinize high earners. As for healthcare, she said she supports Medicare for all and to hold insurers and drug companies accountable so they don't scam people.
Warren said 'capitalism without rules is theft' when she criticized companies that build their business models on cheating people. Her wealth tax proposal suggests a 2 percent tax on household assets in excess of $50 million and a 3 percent tax on fortunes above $1 billion. Skeptics say the wealthy could hide their assets overseas or mask the true value of their wealth.
Warren responded by saying the IRS would closely scrutinize high earners. As for healthcare, she said she supports Medicare for all and to hold insurers and drug companies accountable so they don't scam people.
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