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IPFS News Link • TAXES: Federal

Don't be Fooled by Elizabeth Warren's Argument for Taxation

• The Daily Bell

Elizabeth Warren Is Good at Her Job … Elizabeth Warren has a rare talent for distilling political messages. In 2011, as she was running for the Senate seat that she won the next year, the former Harvard law professor delivered the kind of concise, pointed rationale for public investment — and the taxation to support it — that the White House had been striving to master for the previous three years.   -Bloomberg

This Bloomberg editorial celebrates Elizabeth Warren's famous justification of taxes and the federal government.

It tells the story of how the left wing Senator from Massachusetts was filmed in a "crude video" explaining her positions in a supporter's house. "Her remarks have since been viewed more than a million times."

She spoke to a made-up individual who had started a successful company but believed his taxes were too high.

"You moved your goods to market on roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police forces and fire forces that the rest of us paid for.

Now, look, you built a factory and it turned into something terrific, or a great idea. God bless — keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.

This was such a successful justification for progressive taxation that when he accepted the presidential nomination in 2102, Barack Obama made similar points.

"As colloquial political philosophy goes, Warren's address made as good a case for the liberal social contract as you're likely to hear."

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