Amazon Founder Jeff Bezos would pay nearly $7 Billion Dollars in taxes under Elizabeth Warren’s Medicare for All plan.
The Week:
Sen. Elizabeth Warren (D-Mass.) has a plan for taking Jeff Bezos’ money.
The 2020 candidate unveiled her proposal Friday to pay for her estimated $34 trillion Medicare-for-all plan without upping taxes on the middle class. It relies on a big chunk of change from the country’s biggest earners, and would end up costing the Amazon founder nearly $7 billion.
To raise the tremendous sum needed to provide universal health care, Warren laid out a $20.5 trillion tax package that she says targets “the financial sector, large corporations, and the top 1 percent.” Bezos falls at the very top of that last category, and he’d be subject to Warren’s wealth tax that was upped in this plan from two percent to six percent. And six percent of Bezos’ $111.7 billion net worth? That’s about $6.7 billion.
Joining Bezos at the top of the pile is Bill Gates, who would put in around $6.4 billion, and Warren Buffett, who’d contribute closer to $5 billion. Bezos’ company would also end up paying heftier taxes, though it won’t have to worry about providing employees with health care anymore.Â
I’m sure this will do nothing to the people these billionaires employ. Can you imagine how Warren’s plan will just kill the booming economy we are seeing under President Trump?
While the left and Mainstream Press will claim that this is “taking on big business” this is obviously not true at all. Bezos will find a way to get around this tax and the only people who will suffer are his employees and other smaller businesses.
Left-wing populism= Fascism. Never forget that.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri two years ago at the age of 19. Since its founding, it has gotten over 300k pages views and over 20k followers. The Palmieri Report is dedicated to debunking the lies spread by the left-wing Mainstream Media.
