Liz Warren, who is not just another poser, she is also an economic idiot
Sen. Elizabeth Warren is the latest presidential candidate to propose a massive increase in the death tax to finance government policies that have failed in the past. Warren’s Senate Bill 787, the “American Housing and Economic Mobility Act,” would resurrect several housing policies that many economists agree accelerated the housing crisis and compromised the financial future of thousands of American family business owners and their employees.
Warren’s goal is admirable in seeking to make it easier for Americans to rent or own homes, but the means she would use to achieve this end are many of the same policies that led to last decade’s housing crisis. Warren’s proposal would expand the Community Reinvestment Act (CRA) by increasing the number of loans banks are required to extend to unqualified borrowers.
Do Marxists ever learn from history? Of course not. And how would this walking brain donor fund this debacle?
The bill summary available on Warren’s website lists roughly $500 billion in new spending financed by hiking the death tax to the highest levels in two decades. But according to a Tax Foundation analysis, a similar plan proposed by Sen. Bernie Sanders to hike the death tax would raise only $310 billion in ten years. To raise the revenue required to finance Warren’s long list of priorities, housing included, would almost certainly require raising taxes on the middle class.
But of course, more taxes, more taxes, more failed ideas. Good Freaking Grief