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Kapur writes: "Democratic presidential candidate Elizabeth Warren proposed a universal child care plan that would limit American families' expenses to 7 percent of income regardless of how many children they have in care - paid for by a tax on the ultra-wealthy."

Elizabeth Warren. (photo: Daniel Acker/Bloomberg)
Elizabeth Warren. (photo: Daniel Acker/Bloomberg)


Warren Proposes Universal Child Care Plan Funded by Wealth Tax

By Sahil Kapur, Bloomberg

19 February 19

 

emocratic presidential candidate Elizabeth Warren proposed a universal child care plan that would limit American families’ expenses to 7 percent of income regardless of how many children they have in care -- paid for by a tax on the ultra-wealthy.

The Massachusetts senator’s plan, unveiled Tuesday on Medium.com, would make child care free for families with incomes below 200 percent of the poverty level, or less than $51,500 for a family of four. Other families would pay up to 7 percent of income, depending on how much they earn.

The proposal marks the latest policy entry into a 2020 contest that features scores of progressive Democrats competing over how best to mitigate income inequality and expand the economic safety net for working families. Americans pay nearly as much for child care as they do for rent, with the average cost of child care in the U.S. approaching $1,400 a month, according to a 2018 HotPads analysis of a Care.com state and metro area pricing index.

Warren’s economic populist vision, paired with fierce attacks on corporations and wealthy Americans who she says are rigging the system for self-interest, is at the heart of her campaign, which has already drawn attacks from President Donald Trump.

Warren’s plan would cost taxpayers $70 billion per year, according to an analysis by Moody’s Analytics economists Mark Zandi and Sophia Koropeckyj. It would be paid for with some of the revenue from an annual wealth tax Warren has proposed on assets above $50 million, the person said.

The proposal would “substantially increase the number of children able to receive formal child care” from 6.8 million (or one-third of those under 5 years old) to 12 million (or 60 percent of children under 5), the economists said. It would cut formal care costs for families with young children by about 17 percent.

In an email to supporters, Warren said her proposal would include locally licensed child care centers, preschools and in-home child care facilities with governments, school districts, nonprofits, tribes and faith-based organizations to create a network of care options. Local communities would be in charge and held to national standards, Warren said.

It would be set up as a federal program, built on existing ones like Head Start and administered by local governments and nonprofit entities.

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+1 # Rodion Raskolnikov 2019-02-20 09:05
Unfortunately, Warren is dropping like a stone in a well as far as her presidential chances are concerned. This is what she said in a CNBC interview:


"Democratic Sen. Elizabeth Warren: 'I am a capitalist' – but markets need to work for more than just the rich"


She just does not know what capitalism is. She thinks capitalism is about markets, as if non-capitalists don't have markets. No, markets are part of what humans have always done. Marx defined humans as laboring being -- labor is the transformation of object of nature into objects of human use. Humans have done these things from the time they first emerged on earth.

Capitalism is about the "control of markets. If you are a capitalist, then you support their control. To the capitalist, labor is a market commodity. They are required by their law to pay as little as possible for labor. If you want fairness in markets, then you are an anti-capitalist .

Warren needs to go to school. She should read Karl Marx, the clearest eyed thinker on everything to do with capitalism.
 
 
0 # Robbee 2019-02-20 11:25
Warren Proposes Universal Child Care Plan Funded by Wealth Tax
By Sahil Kapur, Bloomberg
19 February 19

- what? quality child care for all?

bravo! elizabeth rocks!
 

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