MASSACHUSETTS' SENATOR ELIZABETH WARREN DEMANDS WEALTH TAX FROM AMERICA'S WEALTHIEST
" Comparing The Second Wealthiest Man In America Salary To That Of A Massachusetts Public School Teacher."
June 20, 2021 By Art Fletcher & Leo Madison Reporting For: Englebrook Independent News,
WASHINGTON- Senator Elizabeth Warren, (D-Mass) has once again renewed her call for a wealth tax to be implemented on some of the wealthiest people in The United States, placing Amazon's CEO, Jeff Bezos in her line of fire, for taking a relative low salary.
According to Newsweek, Warren took to twitter on Friday and highlighted the fact that while Bezos is worth tens of millions of dollars, he draws a salary roughly the same as a Massachusetts Public School Teacher.
" Jeff Bezos is the second richest person in the world. His net worth is nearly $195 billion dollars. But his salary is about the same as the average Public School Teacher in Massachusetts," Warren wrote.
" Taxing income alone won't make him pay his fair share. It's time for a #Wealth Tax," the Senator wrote.
Bezos, The Founder of the Online Retail Giant Amazon who currently serves as the Company's Chief Executive Officer, drew a base salary of $81, 840.00 in 2019, according to a report from Market Watch. This was the same salary Bezos was paid in 1998. A salary that represents double the median U.S. Income. Nonetheless, Bezos has a net worth of over $190 billion, thanks mainly to the shares he owns in Amazon. He has stated that he will be stepping down as CEO later this year.
According to a report from The Seattle Times, Bezos retains around ten percent of Amazon as of May 11, 2021, after a decision to sell $6.7 billion worth of stock.
Bezos ex-wife Mackenzie Scott was awarded twenty-five percent Bezos' stock as part of their divorce settlement, which represents four percent of the company's stock, as reported by The Wall Street Journal.
Warren's claims appear to be factual, A MassLive Report from 2018 noted that the average salary for a teacher in The Commonwealth was $79,000. But the exact salary varied by the individual School District, with the highest salary being paid for a Public School Teacher was $100,000. and the lowest slightly below $50,000.
For sometime Senator Warren has pushed for a tax on the wealthy. On June 14, she shared her proposal on Twitter and made direct references to Bezos as well as Tesla's CEO Elon Musk and Facebook's CEO Mark Zuckerberg, among others.
" The rich and powerful have rigged the rules to make themselves richer and more powerful. That leads to the income gap. But income inequality doesn't hold a candle to wealth inequality. It is long past time for a #Wealth Tax in America," Warren tweeted.
"Senator Warren's Ultra-Millionaire Tax is a two-cent per dollar tax on people with a net worth of $50 Million and a few cents more for Billionaires," her plan says.
According to a Forbes August 2019, report, Senator Elizabeth Warren had an estimated net worth of $12 Million.
Elizabeth Warren is an American Politician and former Law Professor who is the Senior Senator from The Commonwealth of Massachusetts, serving since 2013. Again today in 2021, Senator Warren has a net worth of $12 Million.
She and her husband, Bruce Mann, both longtime Law Professors, hold much of their wealth in retirement accounts. Their TIAA and CREF accounts, available to Education and Nonprofit employees are at least worth $4 Million. They also own two home, a $3 Million Victorian in Cambridge, Massachusetts and a $800,000. Condo in Washington, DC.
It would seem that Senator Warren is benefiting from the Rich and Powerful's rigged system too. While Warren pushes for a Wealth Tax, why won't she lower the threshold to $10 Million rather than $50 Million, it's apparent why she won't.
FILED UNDER JUNE 20, 2021: NATIONAL, POLITICS, OPINION :