Elizabeth Warren to Billionaire Sheldon Adelson: Here’s Your Wealth Tax Bill

Michael Rainey

Sen. Elizabeth Warren came out swinging against Michael Bloomberg in the Democratic debate Wednesday night, and then took aim at a different billionaire the next day. The Warren campaign ran a full-page ad in the Las Vegas Review-Journal Thursday that calculates how much money Sheldon Adelson – the billionaire owner of the newspaper who is a major Republican donor and supporter of President Trump – would owe the federal government if the wealth tax proposed by the Massachusetts senator were to take effect.

“Here’s how much Sheldon Adelson pays under Elizabeth Warren’s wealth tax in the first year: $2,300,000,000,” the ad says, before listing the ways the money could be used, including providing “free, high-quality child care” for 91,000 Nevada families and the elimination of “tuition and fees at all of Nevada’s public universities, community colleges, and public trade schools.”

The Warren campaign valued Adelson’s personal wealth at $39.6 billion and said the tax would claim less than 6% of his net worth.

Jon Ralston of the Nevada Independent, who served as a moderator in Wednesday’s debate, highlighted Warren’s aggressive move on Twitter, saying, “I think that’s called chutzpah.” (Click here for Ralston’s tweet, which includes a photo of the Warren ad.)

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