Elizabeth Warren’s plans that would remake the economy

The New York Times reports:

As the 23 candidates seeking the Democratic nomination struggle to distinguish themselves, Senator Elizabeth Warren has set herself apart with a series of sweeping proposals that would significantly remake the American economy, covering everything from tax policy to business regulation to student debt relief. Together, her plans offer a detailed portrait of what her presidency might look like.

Many of the proposals from Ms. Warren, a former Harvard law professor and hawk on financial regulation, could face a difficult path to winning over moderates in a general election, and to gaining approval in Congress if she did take the White House. But the sheer volume of her plans, and their detail and variety, is forcing her rivals to play catch-up and stake out their own positions.

Her proposals would tip power from executives and investors to workers and allow the federal government to more aggressively steer the development of industries. She has called for splintering technology companies, like Amazon, that millions of consumers rely on in their daily lives. She would reduce the rewards for entrepreneurs to build billionaire fortunes and for companies to create global supply chains, scrambling the incentives for work, investment and economic growth.

Ms. Warren would seek big tax increases on the wealthiest individuals and corporations, creating a new tax on household assets that exceed $50 million as well as a new tax on corporate profits. From those two steps alone, she says she would raise at least $3.8 trillion over a decade — money that would go toward her plans on student debt cancellation, free college, child care, the opioid crisis and green manufacturing. [Continue reading…]

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