Democratic presidential hopeful and class warrior Sen. Elizabeth Warren, D-Mass., is still worth millions, new financial records show — as she pushes a new wealth tax aimed at millionaires and billionaires.
According to Warren’s presidential candidate personal financial disclosure, obtained by The Center for Public Integrity, Warren is worth somewhere between roughly $4 million and $10 million. The exact number is not clear as the report includes ranges for various investments and income streams, rather than exact amounts.
The center reports that she’s earning some money from book royalties from various publications. But the bulk of her wealth is held in bond and mutual funds, as it has been for years. The forms also show Warren retaining her title as “emeritus professor” at Harvard.
Warren’s wealth has been no secret, but could become a political target in 2020 for anyone looking to chip away at her image as a left-wing economic populist who has rallied for everyday workers against big banks and the ultra-rich.
Warren has taken a consistently hard-left approach to taxation, tax avoidance and income inequality. Last month, she called for a “wealth tax” on Americans with more than $50 million in assets. Warren’s filing indicates she would fall below that threshold.
“We need structural change. That’s why I’m proposing something brand new – an annual tax on the wealth of the richest Americans. I’m calling it the ‘Ultra-Millionaire Tax’ & it applies to that tippy top 0.1% – those with a net worth of over $50M,” Warren tweeted.
She went on to claim that it would generate almost $3 trillion over 10 years.
Her pitch is likely to be greeted positively by the party’s base, which has shown signs of lurching to the left in recent years — with 2020 candidates following and embracing once-fringe policies such as a Green New Deal and “Medicare-for-all.”
Warren has announced an exploratory committee for a presidential run, and is expected to formally announce her candidacy on Saturday.