Booker challenges Warren’s plan to tax the super-rich

Sen. Cory Booker challenged Sen. Elizabeth Warren’s economic plan, arguing in Wednesday’s Democratic presidential debate that simply increasing taxes on the very rich was not enough.

“We as Democrats need to fight for a just taxation system, but … we Democrats also have to talk about how to grow wealth,” he said. “We have to give more people opportunities to create wealth to grow businesses, to have their American dream.”

Warren had just described her plan to tax extreme wealth to fund a massive expansion of government services that she argued would unite Democrats, Republicans and independents.

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Warren responded to Booker’s critique by listing the many programs she said her tax increase could fund, including universal child care up to age 5, universal preschool, free college and forgiveness of student debt.

Booker said he agreed with such goals but not with Warren’s approach.

“The tax, the way we’re putting it forward right now, the wealth tax, I’m sorry — it’s cumbersome, it’s been tried,” he said.

“If I am president of the United States … millionaires and billionaires will pay their fair share,” he said. “But, dear God, we’re going to have pathways to prosperity for more Americans.”