Why Elizabeth Warren Still Calls Herself a Capitalist
"Encouraging companies to build their business models on cheating people — that’s not capitalism," Warren says.
On "What'd You Miss This Week", Joe Weisenthal sat down with Democratic U.S. Senator Elizabeth Warren for a wide-ranging interview about her policy plan. The senior Senator from Massachusetts, who is exploring a White House bid, has already attracted criticism for her wealth tax proposal. Howard Schultz, the former Starkbucks CEO, who is openly weighing an independent presidential run, called it "a ridiculous plan" in an interview.
Senator Warren defended her policy, which would levy a 2 percent annual tax on assets over $50 million and a 3 percent tax on those above $1 billion, and argued it would be popular among voters. "I go out and talk about this with people across this country, and boy, they get it," Warren said. "They get how the rules are rigged right now to help the wealthy and the well connected, and they are ready for change." The White House hopeful did not embrace the moniker of socialist though, and said she supports "capitalism with serious rules." "Encouraging companies to build their business models on cheating people — that’s not capitalism," she said.