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.

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Dion Rabouin, author of Markets
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Data: Hamilton Place Strategies, CivicScience; Chart: Axios Visuals

The rise in coronavirus cases in certain parts of the U.S. is stunting confidence across the country, a crop of new reports show.

Driving the news: After stalling during the previous two-week period, overall economic sentiment declined for the first time in two months, according to the Economic Sentiment Index, a biweekly survey from data firm CivicScience and Hamilton Place Strategies (HPS).

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage."
  2. Health: Mask mandates help control the rise in coronavirus hospitalizations. Hospitals face a crush.
  3. Business: Coronavirus testing is a windfall. Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. World: Putin mandates face masks.

The GOP's monstrous math problem

Illustration: Sarah Grillo/Axios

Republicans, win or lose next week, face a big — and growing — math problem.

The state of play: They're relying almost exclusively on a shrinking demographic (white men), living in shrinking areas (small, rural towns), creating a reliance on people with shrinking incomes (white workers without college degrees) to survive.

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