By Shawn Langlois, MarketWatch
Spare a thought for the billionaires? The very richest among us have been getting smacked around by the likes of presidential hopefuls Elizabeth Warren and Bernie Sanders during this contentious run-up to the 2020 election, and the Employment Policies Institute, a Washington-based conservative think tank, has had enough:
‘The wealthy Americans they attack created world-changing technologies, entertainment empires, millions of middle-class jobs and funded countless charitable endeavors. The American dream shouldn’t punish success.’
That’s just a snippet from a new ad airing Monday that defends billionaires with flashing images of Berkshire Hathaway’s /zigman2/quotes/208872451/composite BRK.A +1.54% Warren Buffett, Facebook /zigman2/quotes/205064656/composite FB +3.50% CEO Mark Zuckerberg and Amazon /zigman2/quotes/210331248/composite AMZN +1.94% founder Jeff Bezos, among others.
The message seems to be in direct response to the “Elizabeth Warren Stands Up to Billionaires” ad from a week ago that took aim at Leon Cooperman, Lloyd Blankfein, Joe Ricketts and Peter Thiel.
Warren’s proposal would levy a 2% tax on individuals worth more than $50 million and a 6% tax on those worth more than $1 billion. Bernie Sanders’s plan would be even more costly for billionaires.
Watch the full ad from the conservative group: