Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

Dear Common Dreams Readers:
Corporations and billionaires have their own media. Shouldn't we? When you “follow the money” that funds our independent journalism, it all leads back to this: people like you. Our supporters are what allows us to produce journalism in the public interest that is beholden only to people, our planet, and the common good. Please support our Mid-Year Campaign so that we always have a newsroom for the people that is funded by the people. Thank you for your support. --Jon Queally, managing editor

Join the small group of generous readers who donate, keeping Common Dreams free for millions of people each year. Without your help, we won’t survive.

Democratic presidential candidate Sen. Elizabeth Warren (D-Mass.) holds up two fingers to represent her two cent wealth tax while speaking at a campaign event at Clark Atlanta University on November 21, 2019 in Atlanta, Georgia. (Photo: Elijah Nouvelage/Getty Images)

New Poll Finds Majority of Americans Across Political Spectrum Back Warren's Ultra-Millionaire Tax

At rallies, the White House hopeful has criticized billionaires for their complaints about her plan to impose a two percent tax on wealth over $50 million.

Julia Conley

New polling results released Friday find broad support for Sen. Elizabeth Warren's proposed wealth tax, with Americans across most demographic groups backing her plan to impose an annual two percent tax on wealth over $50 million.

In her primary campaign for the 2020 Democratic presidential nomination, the Massachusetts Democrat has harshly criticized some of the wealthiest Americans for complaining about the tax, whose revenue she plans to use to pay for a universal childcare program, student debt forgiveness, and tuition-free public college.

Sixty-three percent of Americans support the wealth tax, including 77 percent of Democrats, more than half of Independent voters, and 57 percent of Republicans. 

College-educated Republican men—who are more likely than people in other demographics to be affected by Warren's wealth tax—were the only group in the New York Times/SurveyMonkey poll who reported disapproval of the plan, with 41 percent opposing it. 

As the Times reported, such wide support for any tax hike plan is rare; just 45 percent of Americans backed President Donald Trump's tax plan in 2017, whose benefits mainly went to corporations and the wealthy.

On social media, political observers called the diverse coalition of supporters for the plan "remarkable."

Crowds at Warren's rallies have taken to chanting, "Two cents!" as Warren slams billionaires including Microsoft founder Bill Gates and former New York Mayor Michael Bloomberg, who announced his own presidential run last weekend.

At a rally in Iowa this week, Warren suggested Bloomberg thought it would be "a lot cheaper to spend a few hundred million dollars just buying the presidency" than to pay just two percent of his $54 billion wealth to help narrow the wealth gap in the United States. 

Some wealthy Americans have joined a majority of the electorate in supporting Warren's plan and that of Sen. Bernie Sanders (I-Vt.), who is also running for the 2020 nomination and has proposed a wealth tax on the richest Americans and corporations.

Filmmaker and activist Abigail Disney—great niece of Walt Disney—expressed her support on Twitter this week.

"[If] people own enough to completely reinvigorate all the aspects of the supposed American Dream that have decayed into near uselessness over the last 50 years, then Bernie, Elizabeth, I say go for it," wrote Disney. "Bring on the wealth tax. I will happily pay."


Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

"I'm sure this will be all over the corporate media, right?"
That’s what one longtime Common Dreams reader said yesterday after the newsroom reported on new research showing how corporate price gouging surged to a nearly 70-year high in 2021. While major broadcasters, newspapers, and other outlets continue to carry water for their corporate advertisers when they report on issues like inflation, economic inequality, and the climate emergency, our independence empowers us to provide you stories and perspectives that powerful interests don’t want you to have. But this independence is only possible because of support from readers like you. You make the difference. If our support dries up, so will we. Our crucial Mid-Year Campaign is now underway and we are in emergency mode to make sure we raise the necessary funds so that every day we can bring you the stories that corporate, for-profit outlets ignore and neglect. Please, if you can, support Common Dreams today.

 

Abortion Rights Defenders Applaud Judge's Block on Utah 'Trigger Ban'

"Today is a win, but it is only the first step in what will undoubtedly be a long and difficult fight," said one pro-choice advocate.

Brett Wilkins ·


Scores Feared Dead and Wounded as Russian Missiles Hit Ukraine Shopping Center

"People just burned alive," said Ukraine's interior minister, while the head of the Poltava region stated that "it is too early to talk about the final number of the killed."

Brett Wilkins ·


Biodiversity Risks Could Persist for Decades After Global Temperature Peak

One study co-author said the findings "should act as a wake-up call that delaying emissions cuts will mean a temperature overshoot that comes at an astronomical cost to nature and humans that unproven negative emission technologies cannot simply reverse."

Jessica Corbett ·


Amnesty Report Demands Biden Take Action to End Death Penalty

"The world is waiting for the USA to do what almost 100 countries have achieved during this past half-century—total abolition of the death penalty," said the group.

Julia Conley ·


Pointing to 'Recently Obtained Evidence,' Jan. 6 Panel Calls Surprise Tuesday Hearing

The announcement came less than a week after the House panel delayed new hearings until next month, citing a "deluge" of fresh evidence.

Common Dreams staff ·

Common Dreams Logo