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>}} | 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>}} |