One of the economists behind Sen. Warren's wealth tax defends the policy

Senator Elizabeth Warren is rising in the polls, grabbing the attention of many on Wall Street. Gabriel Zucman, one of the economists who helped design Senator Warren's tax plan, and Andy Puzder, former CKE Restaurants CEO, join "Squawk Box" to discuss.

[michaeldewhirst]

4 against 1. Way to go CNBC. Really great coverage.

[ramilyouhana]

You guys should be more polite and at least let your guest to finish his sentence!

[TheNextTurn]

Here are some ultra rich people and they think the wealth tax is bad.... OMG how Shocking

[PT]

Never ask french economists to advise you USA

They're looking at the issue back to front and inside out. The real issue doesn't stem from a lack of money, but a lack of entrepreneurship and hard skills to grow money in conjunction with monopolies ruling the market and destroying small businesses. We're living under corporatism not capitalism where making money is about who you know and not what you can do. This is predominantly why education has been dumbed down, the 1% doesn't want any plebs taking their business.

[codycast]

If they government said “we are going to balance the budget, and add a wealth tax to accelerate paying down the debt”. I’d be for it

[bh]

This was great I wish the debate was 40 mins someone should do that

[worldshaper]

Zucman, made solid points. I agree with him one hundred percent. The wealth tax is the way to go.

[mikekelley]

So, one French guy who doesn’t speak English that well against four others with clearly closed minds. And, by the way, the French guy is not affiliated with the Warren campaign. Clearly, no one at CNBC was looking for an intelligent discussion. I am looking for intelligent discussion, not derisive laughter.

[b.terenceharwick]

The bald guy talks a lot. The least amount of time was given to the person supposedly being interviewed. A sad show.

[jamestalocka]

Bald guy pulls the rug out from under Pepe at 11:14

[KKOPPONG]

People are good at deciding what to do with other peoples money. It’s ridiculous.

[aymane.]

Sorry, but no one around the table is understanding how income taxes, CT and wealth tax work...

[thierrynolevaux]

The key is learning to live in a world with no growth. Infinite growth is a pipe dream.

[michael]

Wealth tax is absurd. Inflation targeting is already a form of wealth tax.

[vietimports]

history has shown that given enough time, the rich always get eaten

[buckygoldstein]

"Make Them Pay". That is the stupidest thing I've ever heard. If I have $101, 000, 000 that I've already paid income tax on I(and probably also alternative minimum tax) will now be taxed an additional $1, 000, 000 on that amount. If I then invest the remaining $100, 000, 000 in US Steel trading at $50/share and it dropw to $40/share, I've now lost $20, 000, 000. But the next year I will still be taxed $600, 000 on the $80, 000, 000 wealth I have remaining, even though I already paid income tax on it and also paid wealth tax on it the previous year.

Also, why only tax people who have more than $50, 000, 000? Because there are so few of them they can be overwhelmed by those who are less wealthy? Why not have a wealth tax on everybody, maybe 1%. If you have a house or savings, you have more than someone else. Why shouldn't you also be included in the wealth tax. You also have something to contribute, after all it's only 1 cent on the dollar. It's time to give just a little back. Don't you think, after all some people have nothing. That money could go to help people in debt pay off their debt, even if they just squandered their money.

It would make more sense to eliminate capital gains tax, alternative minimum tax, and all deductions (which benefit the rich more than the poor), then adjust the income tax until the government can pay it's debts. However the aid that the government is paying out during this Corvid 19 "crisis" makes it clear that the government could already provide free college, and food assistance and wipe out child poverty if they wanted. I have no confidence that if the government taxed the wealth, that the income gained would go to any of these worthy causes anyway.

[clarestucki]

People who believe the high-earners aren't paying enough taxes need to visit the IRS website to discover who actually pays the taxes in this country.

[Peter-dfip]

NIce point, Andrew, about other countries coming online as competitors in the 70’s-80’s.

[cyanginpedro]

Wow, both of the guests are extremely
out of touch. We don’t have “real growth, ” as the guy on the right says — our cities are overrun with homeless people. We also won’t see as much revenue as the guy on the left thinks we’ll get from a wealth tax, because the rich will evade it. He also says the income tax is a huge success but then says we need a wealth tax because it’s not working. Oh, and he’s French too so that will be used against him to discredit the policy. Come on CNBC, that’s the best you can do? #YangGang