Billionaires hit Warren on proposed tax hike on top earners
WASHINGTON (AP) — Sen. Elizabeth Warren is dismissing criticism of her tax plan from two billionaires who are also considering presidential runs.
Former New York Mayor Michael Bloomberg said her “ultra-millionaire tax” was “probably unconstitutional” and warned against a slide toward socialism.
Meanwhile, former Starbucks CEO Howard Schultz told NPR the plan was “ridiculous.”
Warren, a Massachusetts Democrat, tells The Associated Press the tax is necessary and dismissed the comments from Bloomberg and Schultz, who are both considering using their wealth to fund a 2020 campaign.
She points to them as “another billionaire who thinks that billionaires shouldn’t pay more in taxes.”