Wall Street officials have united against the candidacy of Massachusetts Senator Elizabeth Warren, largely out of opposition to the additional taxes she has vowed to levy on wealthy Americans and corporations.
“She would be just as unpredictable and unproductive as Trump if she were to become president, and who needs that,” Mitch Draizen, a former Obama fund-raiser and Wall Street businessman, told the New York Times. “She’s getting a little carried away and to me it’s irresponsible.”
Warren has announced plans for a “wealth tax” of two percent of net worth for households between $50 million and $1 billion, with a three percent tax overall on households worth over $1 billion. Warren’s “medicare for all” plan would place additional taxes on large corporations and financial transactions.
“I am a fan of Elizabeth Warren, but electing her may be a case of ‘be careful what you wish for,’” consultant and former hedge-fund analyst Jamie Lester commented. “I don’t think she realizes how fragile our economy and financial system are, and she will be driving a bulldozer through them.”
Donors from the finance industry have largely avoided contributing to Warren’s campaign. The senator announced in October that she would no longer hold big donor fundraisers or take donations upwards of $200 from executives at certain tech and finance companies.
“However we choose to fund our campaigns, I think Democratic voters should have a right to know how the possible future leaders of our party are spending their time and who their campaign is rewarding,” Warren said at the time.
Additionally, Warren has also vowed to break up big tech companies such as Facebook and Twitter. Facebook CEO Mark Zuckerberg called the Senator an “existential” threat in discussions leaked at the beginning of October.
“If she gets elected president, then I would bet that we will have a legal challenge,” Zuckerberg said in the discussions.