Changes

Warren’s whole idea is so obviously stupid and incapable of implementation that one is tempted to laugh....lawyers are a core constituency of the Democratic Party, and nearly every lawyer in the U.S. (along with many others, of course) tolerates paying 50% marginal tax rates on his or her income only because a chunk of that income is sheltered in 401(k)s. The 401(k) and the house are where the vast majority of high income earners accumulate wealth. Warren’s proposal essentially destroys the ability to build wealth via retirement savings. This may be OK with those who are already rich, like Elizabeth Warren, but it will be [[anathema]] to younger people who are trying to become wealthy....

Warren’s whole idea is so obviously stupid and incapable of implementation that one is tempted to laugh....lawyers are a core constituency of the Democratic Party, and nearly every lawyer in the U.S. (along with many others, of course) tolerates paying 50% marginal tax rates on his or her income only because a chunk of that income is sheltered in 401(k)s. The 401(k) and the house are where the vast majority of high income earners accumulate wealth. Warren’s proposal essentially destroys the ability to build wealth via retirement savings. This may be OK with those who are already rich, like Elizabeth Warren, but it will be [[anathema]] to younger people who are trying to become wealthy....

Assessing a “wealth tax” that invades previously tax-free 401(k)s at a 50%+ rate will destroy Warren’s support in what has been, in recent years, a core Democratic Party constituency. “Wall Street,” i.e. the financial industry, has already warned that if Warren is the Democrats’ nominee, it will not support her. That in itself is seismic; no industry has ever supported a politician to the extent that [[Wall Street]] supported [[Barack Obama]] and [[Hillary Clinton]]. But the loss of support from America’s lawyers might be even more deadly to the Democratic Party....

Assessing a “wealth tax” that invades previously tax-free 401(k)s at a 50%+ rate will destroy Warren’s support in what has been, in recent years, a core Democratic Party constituency. “Wall Street,” i.e. the financial industry, has already warned that if Warren is the Democrats’ nominee, it will not support her. That in itself is seismic; no industry has ever supported a politician to the extent that [[Wall Street]] supported [[Barack Obama]] and [[Hillary Clinton]]. But the loss of support from America’s lawyers might be even more deadly to the Democratic Party....One unfortunate thing about targeting lawyers (and their often-liberal wives) is that many of them actually understand the implications of policy proposals. Here as usual, understanding is fatal to Liz Warren.<ref>https://www.powerlineblog.com/archives/2019/11/warren-loses-the-lawyers.php</ref>}}

 

One unfortunate thing about targeting lawyers (and their often-liberal wives) is that many of them actually understand the implications of policy proposals. Here as usual, understanding is fatal to Liz Warren.<ref>https://www.powerlineblog.com/archives/2019/11/warren-loses-the-lawyers.php</ref>}}

===Violence===

===Violence===