FILE - In this Jan. 22, 2019, file photo, Sen. Elizabeth Warren, D-Mass., speaks at the "Community Conversation about Puerto Rico and its Recovery" held at the Alejandro Tapia y Rivera Theater, in San Juan, Puerto Rico. Warren is dismissing criticism of her tax plan from two billionaires who are also considering presidential runs. (AP Photo/Carlos Giusti, File)

Billionaires hit Warren on proposed tax hike on top earners

January 29, 2019 - 5:38 pm

WASHINGTON (AP) — Sen. Elizabeth Warren is dismissing criticism of her tax plan from two billionaires who are also considering presidential runs.

Former New York Mayor Michael Bloomberg said her "ultra-millionaire tax" was "probably unconstitutional" and warned against a slide toward socialism.

Meanwhile, former Starbucks CEO Howard Schultz told NPR the plan was "ridiculous."

Warren, a Massachusetts Democrat, tells The Associated Press the tax is necessary and dismissed the comments from Bloomberg and Schultz, who are both considering using their wealth to fund a 2020 campaign.

She points to them as "another billionaire who thinks that billionaires shouldn't pay more in taxes."

Comments ()