Elizabeth Warren: Billionaires Taxes Lower
on Thursday, October 29, 2015Elizabeth Warren Money Quotation saying hedge fund managers should not be able to benefit from the ‘Carried Interest Rule’ to pay less taxes than average Americans. Elizabeth Warren said:
“Even when your ears are stuffed with money, you get a little sound that comes through … Billionaires should not be paying taxes at a lower rate than teachers and firefighters” — Elizabeth Warren
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In this quote, Elizabeth Warren is criticizing the fact that some billionaires pay lower tax rates than middle-class Americans like teachers and firefighters. Even though wealthy individuals have a lot of resources and influence to reduce their tax bills through loopholes and deductions, Warren suggests there is still a basic recognition that this imbalance is unfair.
She argues billionaires should not be able to game the tax system in a way that allows them to pay less in taxes than those working in important public service jobs. The quote conveys Warren’s view that the tax code should not favor the very rich over working families and should instead ensure that those with the most in resources contribute their fair share in taxes.