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Elizabeth Warren says Trump is right about 1 thing
By Heather Long
2016-03-24 11:00:26
 
Source: money.cnn.com/

 

Senator Elizabeth Warren went on a Twitter tirade on Monday, calling Donald Trump a "loser" and "tyrant."

But later, the fiery Democratic senator said she agrees with Trump on one point: Getting tough on Wall Street.

 

"He talks about some important economic issues," Warren told the Boston Globe. "He came out last month and said hedge fund managers should be taxed at the same rates as everyone else. He's right on that."

It was quite a concession, coming from the senator who has has made stopping Trump her top goal because of "the hate, the xenophobia, and the downright ugliness."

"The way I see it, it's our job to make sure @realDonaldTrump ends this campaign every bit the loser that he started it," Warren tweeted Monday.

 

Related: I went from Wall Street...to working at Waffle House

Warren and Trump clearly aren't buddies. She blasted him in a Facebook post, and he's had some choice words for her too. But they are united on an issue that reflects how angry Americans across the political spectrum still are about Wall Street's role in causing the Great Recession.

Trump actually came out in August and said hedge fund (and other) Wall Street money managers should face much higher taxes.

"The hedge fund guys are getting away with murder," he told CBS in August.

Trump wants to eliminate the "loophole" in the tax code known as "carried interest" that allows many hedge fund managers to pay a mere 20% tax on their investment earnings.

It's a big savings. If that provision went away, the hedge manager crowd would pay up to a 39.6% tax rate on some of those earnings.

"They're paying nothing, and it's ridiculous," he said over the summer.

Related: New York millionaires say 'raise our taxes' and combat child poverty

For Warren, taxing Wall Street more is only the start. She and presidential hopeful Bernie Sanders want to see the big banks like JPMorgan Chase broken up.

Trump hasn't gone that far, but he's certainly no friend of Wall Street.

Many people believe that Hillary Clinton would be Wall Street's preferred candidate if it came down to Clinton vs. Trump in November. Not only has Clinton given many paid speeches to Wall Street bankers, she is generally seen as not having as harsh a view of them.

Whereas Trump has specifically called them out on the campaign trail: "The hedge fund guys didn't build this country. These are guys that shift paper around and they get lucky."

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