https://www.vox.com/policy-and-politics/2019/6/14/18678099/elizabeth-warren-2020...Elizabeth Warren isn’t Hillary Clinton
How Warren is using many policies to reinforce one message, and a few other notes from our conversation.
By Ezra Klein@ezraklein Updated Jun 14, 2019, 11:31am EDT
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My old American Prospect editor Mark Schmitt had a maxim I always liked: “It’s not what you say about the issues; it’s what the issues say about you.”
Mark’s line came to mind while I was interviewing Elizabeth Warren (you can listen to our conversation on my podcast, or read it here). I’ve seen a lot of nervous Democrats compare Warren to Hillary Clinton. After all, Clinton had plans too. Clinton was the most prepared candidate on the stage, too. And look how that ended.
I think the analogy is flawed. Clinton had a lot of plans but no clear message. Warren’s genius has been to turn a lot of plans into a clear message. Clinton’s plans couldn’t dispel the sense that she was complicit in the status quo. Warren’s plans underscore her longstanding loathing of what American capitalism has curdled into.
It’s common for Democrats to talk about income inequality. Warren fixates on wealth inequality. During our conversation, she used the word “wealth” 23 times but mentioned “income” only four times. There’s a reason for that. Wealth is where income pools into power and privilege. When your money comes from income, it is, at least in theory, being earned through work. When it’s just wealth creating more wealth, it’s a hoarding of resources divorced from the labor and innovation that drives economies forward.
“Think of it this way,” she told me. “The bottom 99 percent last year paid all-in on their taxes 7.2 percent of their total wealth. Top 1 percent? They paid 3.2 percent of their total wealth.” Those huge fortunes, she continued, “are growing on their own. They are now capital. You don’t have to work if you’ve got one of those big fortunes. Those things are managed by professional managers.” Listen to how Warren talks about this. It offends her.
Over and over again, Warren turned the conversation back to her wealth tax, and everything it could buy. Like here:
Two cents on the one-tenth of 1 percent, the greatest fortunes in this country, $50 million and above, and for 2 cents we can provide universal child care, universal pre-K, raise the wages of all our child care workers and pre-K workers, universal technical school, two-year college, four-year college, and cancel student loan debt for 95 percent of the people who’ve got it. We cancel student loan debt for 43 million Americans across this country. The vision of what government can do and whose side government is on changes just like that.
And here:
I was talking a minute ago about the 2-cent wealth tax. My proposal is a tax on the 75,000 biggest fortunes in this country. If you’ve got more than $50 million, the 50 millionth and first dollar gets taxed at 2 cents. And then 2 cents on every dollar after that. Two cents. What could we do with 2 cents? Look at the opportunity it builds in child care and early childhood education and technical school and college and freeing up people from huge debt burdens.
And here:
But notice how much you get from the wealth tax. The 2-cent wealth tax is enough to do all those things I talked about, plus have $100 billion to put into opioids and still have nearly half a trillion dollars left over. It’s a staggering amount of money that it produces because there is such extraordinary concentrated wealth in this country. Getting that 2 cents opens up real opportunity for everybody else.
Warren’s tagline is “I have a plan for that.” And on one level, it’s true: She has a lot of plans. But a clearer way of understanding her pitch is she’s got one plan that she applies over and over again.
As Warren sees it, there’s been a massive hoarding of wealth — and thus of power and opportunity — in this country. She wants to tax the wealth and redistribute both the money and the opportunity. She wants to break up concentrations of economic power by putting workers on corporate boards and unleashing antitrust regulators on Amazon and Facebook and ending Washington’s revolving door. These are different policies, yes, but they all say the same thing: The wealthy have too much money and power, and Warren wants to change that.
That’s the difference between her and Clinton. Clinton had a lot of plans and just as many messages. Warren has a lot of plans, but they reinforce one message. Warren has her weaknesses, but the way she talks through policy is a defining strength.