Paying For It

I'm a huge fan of Elizabeth Warren's policy chops.  I'm not sure how good a TV politician she is - she routinely ran below other Democrats in Massachusetts - but she is an excellent policy generator.

This piece in the WaPo lays out why perhaps her numbers don't add up. That's fair.  It should be noted that Republican's numbers have NEVER added up - or even come close.  Also, when you run on generalities and platitudes like Sanders and Biden, it allows you not to have to deal with the messy math of the whole thing.

The primary issue with Warren's taxation plans is that the wealthy are very adept at avoiding paying their taxes.  Even if Warren's plan could put in place enough enforcement measures, you would have two problems.  First, as we've seen in the Panama Papers, it's far too easy for wealthy people to hide their money overseas.  Any new taxation scheme devised to address the real global problem of the top .001% will have to address global tax evasion. If Billionaire Bob can simply move from France to Luxembourg, then France has no sovereignty. If he can hide his wealth in the Caymans, then you can't tax it.  This is a global problem and requires a global solution.

The second issue, which is secondary, is that once the Republicans gain control of the government again, they will kill enforcement efforts. Any law would have to include criminal penalties (not civil ones) against those who evade taxes and government officials who allow that to happen. 

In the end, I'd like to see Warren's taxation passed and about half of her spending agenda passed.  Universal kindergarten, but not child care.  Universal two year college, not four year college. More on infrastructure.  But unless you can actually raise the revenue that you want, you will leave yourself open to the deficit scolds.