DAVID: FIRST IT WAS
OCASIO-CORTEZ WITH HER 70% TAX
RATE, THEN ELIZABETH WARREN WITH
HER WEALTH TAX.
NOW SENATOR BERNIE SANDERS WANTS
TO DRAMATICALLY REVERSE RECENT
DOWNWARD TREND OF ESTATE TAXES,
IMPOSING A MASSIVE 77% TOP RATE
ON THE RICHEST AMERICANS.
HE ALSO WANTS TO WIDEN THE TAX
NET TO INCLUDE ANYBODY
INHERITING AN ESTATE THAT'S
WORTH MORE THAN $3.5 MILLION.
CANDIDATE HILLARY CLINTON HAD A
SIMILAR PLAN IN 2016, BUT OF
COURSE, VOTERS REJECTED HER AND
THAT PLAN.
SO WILL VOTERS IN 2020 FEEL THE
SAME OR IS THIS TAXING THE RICH
NARRATIVE GAINING TRACTION?
WHAT DO YOU THINK?
>> DAVID, IT'S ABSOLUTELY
GAINING TRACTION, BECAUSE IT HAS
BROAD APPEAL.
THE FACT IS, MOST OF US DON'T
KNOW THE TOP 1% OF AMERICANS SO
TO TAX THE OTHER GUY, IF YOU'RE
NOT IN THAT BRACKET, SOUNDS
FANTASTIC.
IN FACT, MOST PEOPLE DON'T EVEN
HAVE A DREAM OF BEING IN THE TOP
1% NO MATTER HOW HARD THEY WORK.
NOW, THAT'S POLITICALLY, I THINK
IT'S A GOOD MESSAGE FOR BERNIE
SANDERS.
REALISTICALLY, OF COURSE IT'S A
SILLY MESSAGE AND THIS IS IRONIC
COMING FROM SOMEONE LIKE
SANDERS, WHO PROBABLY HIMSELF
WITH HIS WORTH OF I THINK OVER
$2 MILLION IS PROBABLY IN THE
TOP 10% HIMSELF.
IT RUINS ANY INCENTIVE TO TRY TO
GET AHEAD.
FORGET ABOUT COMPANIES LIKE
AMAZON AND MICROSOFT.
GUYS LIKE GATES AND BEZOS AND
ELON MUSK, WHAT'S THE INCENTIVE
TO CREATING AND ACCUMULATING
VAST WEALTH IF YOU CAN'T GIVE IT
AWAY TO YOUR KIDS AND YOUR
FAMILY AND YOUR ESTATE?
BUT FOR SANDERS, PROBABLY A GOOD
PLATFORM TO RUN ON.
>> YEAH, I'M WITH YOU 100%.
I THINK IT'S A WONDERFUL
MESSAGE.
I MEAN, WE REMEMBER HERE AS NEW
YORKERS, THE 99% VERSUS THE 1%,
IT WAS REALLY ALL ABOUT BRINGING
DOWN THE 1% AND THE 99% WEREN'T
PARTICULARLY ORGANIZED WHICH IS
WHY IT DIDN'T REALLY SORT OF
TAKE OFF IN A MEANINGFUL WAY OR
WITH TEETH, BUT I SPENT SOME
TIME IN LOUISIANA, IN NEW
ORLEANS, SPEAKING WITH A LOT OF
FARMERS AT THIS FARM BUREAUS
ASSOCIATION AND FOR THEM, THIS
IS REALLY A BIG DEAL.
THIS IS ACRES AND ACRES OF LAND
THAT HAS BEEN IN THEIR FAMILY SO
I MEAN, WE THINK OF, I THINK,
THE HOLLYWOOD VERSION OF THE 1%
OR .1% WHICH IS HEDGE FUND
MANAGER ON A BOAT IN THE RIVIERA
BUT I SPENT ALL DAY, A DAY AND A
HALF, WITH PEOPLE FOR WHOM THIS
IS REALLY AN ISSUE.
THIS IS A LIVELIHOOD.
IT'S A LEGACY.
TO YOUR POINT --
DAVID: PEOPLE WHO WORK WITH
THEIR HANDS.
>> YEAH.
>> FORGIVE ME.
I DON'T WANT TO SOUND CYNICAL
HERE BUT IT SEEMS LIKE EVERY NEW
PROGRESSIVE WHO JUMPS INTO THE
RACE FINDS A NEW TAX THAT THEY
CAN KIND OF MAKE THAT THEIR OWN.
WE'VE GOT, YOU KNOW, ELIZABETH
WARREN WITH THE WEALTH TAX.
NOW WE'VE GOT BERNIE SANDERS
WITH THE ESTATE TAX.
IS THERE ANOTHER TAX OUT
THERE --
DAVID: OH, I'M SURE.
>> WHAT WILL KIRSTEN GILLIBRAND
LOOK AT?
I DON'T THINK ANY OF THESE
THINGS WILL PASS BECAUSE THERE
IS ENORMOUS INTEREST AGAINST
THEM BUT I AGREE WITH GARY,
UNFORTUNATELY THE NARRATIVE FROM
THE LEFT IS THAT THE WORLD IS
UNFAIR, THAT THE UNITED STATES
IS UNFAIR.
I WISH THEY WOULD SPEND A LITTLE
MORE TIME TALKING ABOUT HOW TO
CREATE WEALTH, MAKE MORE PEOPLE
MOVE INTO THAT 1%, THAN ONLY
FIGURE OUT HOW TO BRING DOWN
THAT 1%.
>> THE WORLD IS UNFAIR.
IT IS UNFAIR, BUT INSTEAD OF
RIPPING PEOPLE DOWN, LET'S
CREATE MORE TOOLS TO LIFT MORE
PEOPLE UP.
>> THAT OLD AUSTRALIAN SAYING,
YOU WANT TO CUT DOWN THE TALL
POPPIES.
MEN LIKE BILL GATES ARE THE TALL
POPPIES AND THEY EARNED IT.
I'M BEWILDERED WHY BILLIONAIRES,
PEOPLE WHO EARNED ALL THIS
MONEY, BECOME PUBLIC ENEMY
NUMBER ONE.
THEY HAVE CREATED THESE
TREMENDOUS VALUES AND THERE'S
THAT WELL, THEY LEAVE IT TO THE
WORTHLESS HEIRS.
YOU KNOW WHAT, THAT'S THEIR
DECISION.
WHAT THEY WANT TO DO, LIKE BILL
GATES OR JEFF BEZOS CAN BLAST IT
OFF IN A SPACESHIP OR GIVE IT TO
HEIRS, THAT'S THEIR DECISION.
THERE'S THIS HATRED FOR WEALTH,
FOR SUCCESSFUL INDIVIDUALS.
IT'S TREMENDOUSLY EUROPEAN.
IT'S NEVER REALLY BEFORE BEEN
SEEN IN AMERICAN HISTORY.
DAVID: BUT I DON'T THINK THAT --
I WOULDN'T SAY IT'S A DEAD SURE
THING THAT AMERICANS ARE GOING
TO FALL FOR THE SNAKE OIL
BECAUSE IN FACT, THERE WAS A
POLL OUT IN 2016 AND LIZ, WE
WERE TALKING ABOUT ONE IN 2017
SAYING THAT MOST AMERICANS WANT
TO ELIMINATE THE DEATH TAX OR
INHERITANCE TAX.
SO MAYBE AMERICANS AREN'T BUYING
INTO THIS RHETORIC.
MAYBE DEMOCRATS ARE JUST TALKING
AMONGST THEMSELVES.
THEY THINK IT'S GOING TO SELL
BUT IT WON'T.
>> I TELL YOU WHO'S COME OUT
VERY INTELLIGENTLY AGAINST THIS
IS HOWARD SCHULTZ, WHO BASICALLY
SAID HEY, I'M A BILLIONAIRE, I