Elizabeth Warren on Welfare & Poverty
Massachusetts Senator; former head of CFPB; Dem. Presidential Challenger
In 1999 Congress passed a law known as the Faircloth Amendment, requiring that not a single new unit of public housing could be built unless an existing unit of public housing was destroyed or sold to a private party. The magical market that would provide housing for everyone turned out to be an illusion.
[During] the housing crash of 2008, I was out there fighting for a consumer agency to make sure people never get cheated again on their mortgages. I have a housing plan, and what it has in it specifically is a piece to deal with the effects of red-lining. We can no longer pretend that everything is race-neutral. We have got to address race consciously, what's happening in this country.
When asked if Buttigieg's response was substantial, Warren replied simply, "No."
"It's important to own up to the facts about how race has totally permeated our criminal justice system," she said. Warren referenced her housing plan, saying that the United States needs to "start having race-conscious laws."
"It was the policy of the United States of America to discriminate against African Americans and any other people of color for buying homes until 1965," she said. "You can't just repeal that and say, 'Okay, now everything is even.' It's not."
I propose to expand our funding that is specifically targeted to LGBTQ youth who are homeless.
DELANEY: I think wealthy Americans have to pay more. But the wealth tax will be fought in court forever. It's arguably unconstitutional.
WARREN: It's time to tax the top 0.1% of fortunes in this country. Your first $50 million, you can keep free and clear. But your 50 millionth and first dollar, you got to pitch in two cents. Two cents. What can America do with two cents? We can provide universal childcare from zero to five. We can raise the wages of every childcare worker and preschool teacher in this country. We can provide universal tuition-free college. We can put $50 billion into our historically black colleges and universities. It tells you how badly broken this economy is that two cents from the wealthiest in this country would let us invest in the rest of America.
Warren, in her book "The Two-Income Trap", and on a blog called Warren Reports on the Middle Class, which she wrote with some collaborators, pushed [that] view. Her argument was that structural shifts in American family and economic life had made middle-class finances more fragile, leading to a spike in bankruptcies induced by job losses or medical problems. She castigated the [2005 Congressional bankruptcy] bill as exacerbating the middle-class squeeze and as being an example of a broken politics working for special interests rather than average Americans. In her book,
The housing collapse wiped out trillions of dollars in family wealth nationwide, but the crash hit African Americans and Latinos like a tidal wave. And the hit was doubly hard because these were the families that generation after generation, had already been aggressively discriminated against in housing. Restrictive deeds, land sales contracts, redlining--American history is littered with examples of housing laws and lending strategies that were designed to deny black and Hispanic families mortgages.
For most middle-class families in America, purchasing a home is the best way to build financial security. And it worked that way, for much of the twentieth century, at least for white Americans.
SEN. WARREN: Take a look at the House if you want to see what happens when Republicans take over. What are they on now, is this their fiftieth vote to repeal Obamacare? That's not how you run a country. We have real issues we need to deal with. Minimum wage, student loan debt, equal pay for equal work, a little accountability for the big financial institutions.
Q: Your fans say you're a populist, but your critics say you're just basically a socialist.
WARREN: I just don't know where they get that. You know, look at the issues. Minimum wage? I just believe nobody should work full time and live in poverty. And you know what? Most of America agrees. Student loans, I don't think the U.S. government should be making tens of billions of dollars in profits off the backs of our students, which is what the current student loan system is doing. And I think most Americans agree with me on that.
By the end of his first term, Obama would likely be able to say that he helped a few million Americans avoid foreclosure. Of course it wouldn't be much to brag about because millions more would be forced from their homes.
What is balance? You've heard of a balanced diet, with enough of each of the basic food groups. Balancing your money follows the same general idea. The right amount of this, the right amount of that, and not too much of any one thing--and you have the formula for a sustainable, lifetime plan. When your money is in balance, you spend just the right amount on each of your major expense categories.
And you know what? Roberto owed thousands of dollars to the IRS because he hadn't gotten around to filing his tax returns in the last three years. He didn't have car insurance or health insurance. And he hadn't saved a nickel for retirement. Every week Roberto spent hours saving pennies and updating his financial records. But when it came to what really mattered, his financial house was built on sand.
So, what's the alternative to counting the pennies? Follow the steps in All Your Worth.
Well, it isn't smart. In fact, it's dangerous. Really, really dangerous. Borrowing against your home to pay off other debt violates the first principle of debt-free living: You can't borrow your way out of debt. Ever.
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Joe Kennedy III
Senate races 2021-22:
AK: Incumbent Lisa Murkowski(R)
vs.Challenger Kelly Tshibaka(R)
vs.2020 candidate Al Gross(D)
AL: Incumbent Richard Shelby(R)
vs.U.S. Rep. Mo Brooks(R)
vs.Ambassador Lynda Blanchard(R)
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AR: Incumbent John Boozman(R)
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AZ: Incumbent Mark Kelly(D)
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CA: Incumbent Alex Padilla(D)
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CO: Incumbent Michael Bennet(D)
CT: Incumbent Richard Blumenthal(D)
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FL: Incumbent Marco Rubio(R)
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HI: Incumbent Brian Schatz(D)
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IA: Incumbent Chuck Grassley(R)
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IL: Incumbent Tammy Duckworth(D)
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IN: Incumbent Todd Young(R)
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KY: Incumbent Rand Paul(R)
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LA: Incumbent John Kennedy(R)
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NH: Incumbent Maggie Hassan(D)
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SC: Incumbent Tim Scott(R)
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SD: Incumbent John Thune(R)
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WA: Incumbent Patty Murray(D)
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WI: Incumbent Ron Johnson(R)
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Senate Votes (analysis)