Biden put out a housing plan on Monday that would cost $640 billion over a decade, with the centerpiece being a $15,000 tax credit for first-time home buyers.
Campaign officials said the credit was meant to help increase wealth for minorities, and would be paid for with higher taxes on corporations and big banks.
Bloomberg leaned on his financial success as a differentiator. “I’m the only one here that’s ever started a business,” he said. The chief executive of Bloomberg LP has spent more than $409 million since launching his campaign just 10 weeks ago. That money has, essentially, bought him second place in national polling. It’s still less than 1 percent of his net worth, which Forbes estimates at $65.2 billion – making him the eighth richest person in America.
Elizabeth Warren compared Bloomberg to President Trump. “Democrats take a huge risk if we just substitute one arrogant billionaire for another,” said the senator from Massachusetts, as he stood next to her, avoiding eye contact.
“How Bloomberg would make community college free and overhaul student loans,” by Michael Stratford: “Democratic presidential candidate Mike Bloomberg on Tuesday released a new $700 billion higher education plan that calls for free community college and doubling Pell Grants for low-income students.
“The former New York City mayor’s proposal would significantly increase federal spending on higher education and aims to target those subsidies to lower-income families. It doesn’t go as far as proposals by other Democrats to eliminate tuition at public, four year universities for large swaths of students or provide student loan forgiveness on the scale that progressives have sought.” The plan
“Bloomberg distances himself from Wall Street with tough new plan,” by Victoria Guida: “Bloomberg, who earned his multibillion-dollar fortune in the finance world, says he would restore restrictions placed on banks after the 2008 crisis that have been loosened under the Trump administration, including a regulation that bans banks from making speculative gambles with depositors’ money.
“The plan is peppered with ideas that Wall Street opposes, such as taxing individual financial transactions, providing financial services through the U.S. Postal Service, and decreasing the extent to which banks can rely on debt to fund their operations.”
Bloomberg tears into Bernie Sanders: ‘We’re not going to throw out capitalism’
“How Sanders would provide free child care and early education for all,” by Juan Perez Jr.: “Sen. Bernie Sanders on Monday outlined a pitch to replace the country’s onerous child care and early childhood education system with a federally funded and universal program … “Sanders and his campaign say the plan offers up free, full-day child care for every child from infancy, plus pre-K to every child in the country, starting at age 3. Much like his ‘Medicare for All’ pledge, Sanders’ idea features an eyebrow-raising price tag: $1.5 trillion spent during the next decade. How to pay for it? Tax the rich.” The plan
Could Sanders’ tax-and-spend agenda be his biggest general election weakness?
Bernie Fears Some Will Seek to Flee If He Succeeds
His plan imposes a severe penalty on anybody who tries to leave to avoid paying his “wealth tax.” “The wealth tax includes a 40 percent exit tax on the …
Sanders challenges NBC moderator over question about unfavorable poll on socialism.
The news on President Donald Trump’s oft-discussed new tax proposal keeps coming out in dribs and drabs, and the latest is that the plan is expected in September and could include a 10 percent tax cut for middle-income folks, as Pro Tax’s Brian Faler reported.
White House considering tax incentive for more Americans …
As part of a forthcoming package of proposed tax cuts, the White House is considering ways to incentivize U.S. households to invest in the stock market, according to four senior administration officials familiar with the discussions. The proposal, one of many new tax cuts under consideration, would see a portion of household income treated as tax-free for the purposes of investing outside a traditional 401(k). Under one hypothetical scenario described by multiple officials, a household earning up to $200,000 could invest $10,000 of that income on a tax-free basis, although officials noted these numbers are fluid. Larry Kudlow, director of the National Economic Council, told CNBC the approach looked at most closely centers on creating universal savings accounts, which would combine retirement, education and health care savings into one vehicle.
Trump weighing 10 percent middle-class tax cut plan. The proposal is mostly designed to set up a contrast with Democrats ahead of the November elections.
Elizabeth Warren just tore apart a billionaire. Why not Trump?
“Elizabeth Warren Buys Ad In Sheldon Adelson’s Paper Telling Sheldon Adelson How Much He’ll Pay Under Her Wealth Tax,”
The field narrows…
Minnesota Democratic Sen. Amy Klobuchar is ending her Democratic presidential campaign and endorsing former Vice President Joe Biden.
Pete Buttigieg is dropping out of the 2020 presidential race after losing momentum following top-two finishes in Iowa and New Hampshire. The former mayor of South Bend, Ind. rose from obscurity to the top levels of the presidential race, but he was unable to sustain the campaign against better-known national Democrats.
Steyer drops out of 2020 race
Billionaire businessman Tom Steyer dropped out of the presidential race after a disappointing showing in South Carolina’s primary.