The Des Moines Register poll is considered the gold standard of polling for the first state in the Union to caucus for the next president of the United States. So, when the latest poll rolled out that showed Sen. Elizabeth Warren, D-Mass in the lead at 22 percent, eyebrows raised across the political punditry. Former Vice President Joe Biden trailed at 20 percent, with Sen Bernie Sanders, I-Vermont at 11 percent.
While most political observers noted that the poll might be an outlier, that Warren’s surge, while real, has not been as pronounced in national polls, some Democrats are worried. Hot Air explains:
“From the beginning of this mess, I’d never imagined that Donald Trump could be lucky enough to draw Warren as an opponent, but at this point, it’s impossible to deny that she looks like she has a real chance. That’s kind of amazing because she is a dud of a candidate. She’s terrible on the stump and leaves people with the impression that she’s lecturing them more than relating to them. And she’s already gone on the record with a bunch of policies that will ruin people’s financial situations while driving the country in an extreme leftward tilt.”
What sort of policies? Hot Air also relates the consequences of what Warren calls ‘Accountable Capitalism.” The concept involves the government mandating that private corporations pursue policies that will enhance “the public good,” as defined by the government. Germany has already instituted such a policy, which has resulted in slower growth and lower stock prices.
One estimate suggests that Warren’s policy will lower the stock value of American corporations by 25 percent. Since many Americans have their retirement funds invested in stocks, that means their funds that they will depend on in their golden years will take a hit.
Warren has also proposed a wealth tax. Unlike an income tax, such a levy would take away money from people who, in the judgment of the government, are too rich. The Warren version would take away 2 percent of every dollar someone has over $50 million and 3 percent over $1 billion.
According to CNBC, the Warren plan has a perverse marriage penalty in it. A married couple who is worth just shy of $100 million could divorce, split the nest egg in two, and they each have a little less than $50 million and would thus owe no tax. Billionaires who divorce could save even more money by divorcing, even if they continue to cohabit. The result would not be pretty for those who believe the institution of marriage is a good thing.
Forbes notes that Warren would not only ban hydraulic fracking but also harbors a dislike for carbon-free nuclear power. A ban on fracking would mean the end of cheap, abundant energy in America, with the prices of gasoline and electric power skyrocketing. Of course, the cynical might suggest that such a development is the feature and not the bug. How better to force people to accept government-approved ways of generating electricity such as wind and solar?
Warren’s abhorrence of nuclear power is even more puzzling. If one believes that climate change is going to kill us all, nuclear power constitutes a proven technology that will help to stave off that doom. Nuclear power does not emit even an ounce of carbon dioxide and thus does not contribute to climate change.
Finally, Warren is a strong proponent for a version of Medicare for All. The problem is, as the candidate proved when she was on Stephen Colbert’s late-night show, Warren is being just a little coy about how she would pay for nationalizing the health insurance industry. She is pretending that only the wealthy and big corporations will pay the cost. Bernie Sanders, according to the Hill, is upfront with the fact that the plan would require that ordinary people will have to pay more taxes. Sanders claims that the cost would be more than offset by people no longer having to pay premiums and copays, which most analysts consider dubious at best.
Hot Air concludes, “If Trump is running even a modestly competent campaign next year he should be able to tear her to shreds. But I’m not getting my hopes up yet. Joe Biden is still very strong in a lot of other states and he remains the most likely winner in my opinion.”