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Democrat Wall Street Donors Issue Warning Over Warren Wealth Tax

Will this presidential election be the most important in American history?

Massachusetts Democrat Senator and 2020 presidential candidate Elizabeth Warren’s wealth tax isn’t resonating too well with big-money Democrat Wall Street donors and fundraisers.

Warren, a huge critic of corporations, big banks, and the wealthy, is pushing for a wealth tax if she becomes the Democrat party’s nominee.

National Review reports:

Senator Warren’s proposal would hit fortunes above $50 million with a 2 percent annual wealth tax. Fortunes above $1 billion would be taxed annually at 3 percent.

However, big-money Democrat Wall Street donors are not all in with Warren’s wealth tax idea intended to pay for her big government policies.

CNBC talked with wealthy Democrat donors and fundraisers to get their thoughts on Warren’s wealth tax with some saying they will “sit out” or “back President Donald Trump.”

CNBC reports:

Democratic donors on Wall Street and in big business are preparing to sit out the presidential campaign fundraising cycle — or even back President Donald Trump — if Sen. Elizabeth Warren wins the party’s nomination.

Warren responded in a Tweet.

Earlier this month, CNBC hosts discussed how “Wall Street executives are fearful of an Elizabeth Warren presidency.”

Warren’s wealth tax idea is a war on the wealthy and Wall Street Democratic donors and fundraisers have issued a strong warning to Warren over her tax the wealthy plan.

Punishing the wealthy is not a way to grow the economy or get elected president.

Deneen Borelli

Deneen Borelli is the author of Blacklash: How Obama and the Left are Driving Americans to the Government Plantation. Deneen is a contributor with Newsmax Broadcasting. She is a former Fox News contributor and has appeared regularly on “Hannity,” “Fox & Friends,” “Your World with Neil Cavuto,” and “America’s Newsroom.” She has also appeared on Fox Business Network programs “Making Money with Charles Payne,” “The Evening Edit with Liz MacDonald,” and “Cavuto: Coast to Coast.” Previously, Deneen appeared on MSNBC, CNN, the BBC and C-SPAN. In addition to television, Deneen co-hosted radio programs on the SiriusXM Patriot channel with her husband Tom. Recently, Deneen co-hosted the Reigniting Liberty podcast with Tom. Deneen is a frequent speaker at political events, including the FreedomWorks 9.12.2009 March on D.C. which drew a crowd estimated at over 800,000 people. Deneen is also an Ambassador with CloutHub.com, a social media platform that promotes free speech, and with the America First Policy Institute (AFPI) which advances policies that put Americans first. Deneen testified before the U.S. House of Representatives Committee on Natural Resources in May 2011 and before the Ohio House Public Utilities Committee in December 2011. Previously, Deneen was a BlazeTV.com host, Outreach Director with FreedomWorks.org overseeing its Empower.org outreach program, a Project 21 Senior Fellow, and Manager of Media Relations with the Congress of Racial Equality (CORE). Prior to joining CORE, Deneen worked at Philip Morris USA for 20 years. During her corporate career at Philip Morris she worked in various positions, her last as Project Management Coordinator in the Information Management department where she was responsible for the department’s mandated quality processes, communications, sales information and database management. Deneen began her Philip Morris career as a secretary and advanced to positions of increasing responsibilities. Deneen worked full-time and attended classes at night for 11 years to earn her B.A. in Managerial Marketing from Pace University, New York City. Deneen served on the Board of Trustees with The Opportunity Charter School in Harlem, New York. She appeared in educational videos for children, worked as a runway fashion model, and auditioned for television commercials. Her interests include ancient history, pistol target shooting, photography, and volunteering at her church. Deneen currently resides in Connecticut with her husband Tom.

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