Nov 7, 2019

The growing anti-Warren consensus shows the limitations of her plans

Illustration: Eniola Odetunde/Axios. Photo: Sean Rayford/Getty Images

The Economist came down hard on Sen. Elizabeth Warren last month, describing her regulatory proposals as "jaw-dropping" and warning of "a severe shock" were her plans to be enacted.

The state of play: Similar sentiment has arrived from Steve Rattner, the manager of Mike Bloomberg's fortune, who says that a "Warren presidency is a terrifying prospect." Billionaires Leon Cooperman and Jamie Dimon have also joined the chorus.

  • The plutocrats were joined by Joe Biden, whose spokesperson said that Warren's plan to pay for universal health care would raise taxes on the middle class, since the middle class owns stocks and the plan includes a 0.1% tax on financial transactions.
  • Even Sen. Bernie Sanders said that Warren's plan would be bad for job creation.

Reality check: All of Warren's critics, just like Warren herself, know full well that her plan would never get enacted. The barrage of anti-Warren criticism is mostly just a function of her status as a frontrunner in the Democratic primary.

My thought bubble: The consensus here is noteworthy all the same. For all that there are wonkish reasons why it makes sense for Warren to release this plan even if she knows it is doomed, we're seeing the practical effect of her "I've got a plan for that" refrain. Every plan she announces will be immediately and broadly criticized on the grounds that it raises taxes too much.

Go deeper:

Go deeper

Warren bets the White House on Medicare for All

Data: NewsWhip; Chart: Chris Canipe/Axios - Note: Hover over the weekly rank on desktop to see articles and interactions for each candidate and issue.

Elizabeth Warren, who rose to the top with big liberal bets, is banking a big slice of her presidential run on full-throated support for Medicare for All. 

Why it matters: Warren is taking a beating on social media after claiming middle class Americans won’t pay higher taxes to fund health care coverage fully paid for by taxpayers, according to data from NewsWhip provided exclusively to Axios. At the same time, her poll numbers nationally are slipping. 

Go deeperArrowNov 7, 2019

Billionaires are not happy with Elizabeth Warren and her wealth tax

Photo: Joseph Prezioso/AFP/Getty Images

Billionaire hedge fund manager Leon Cooperman again unloaded on Sen. Elizabeth Warren in an interview Wednesday with CNBC, a month after sending her a five-page letter.

Why it matters: His comments came in response to Warren's latest TV ad, which is titled “Elizabeth Warren Stands Up to Billionaires,” and will begin running on the network soon.

Go deeperArrowNov 14, 2019

The steep odds against Elizabeth Warren’s big 2020 ideas

Photo Illustration: Aïda Amer/Axios. Photo via Sean Rayford/Stringer

Elizabeth Warren is suddenly having a harder time selling her big ideas in the Democratic primary. As president, she'd have an even tougher time convincing Congress — even if Democrats held both chambers.

The big picture: A President Warren could immediately translate some of her progressive ideals into the policy of the land through executive order, but her best-known, most ambitious plans would have to go through Congress.

Go deeperArrowDec 4, 2019