Sen. Elizabeth Warren (D–Mass.) tells Amy Goodman that "Markets without rules are theft." Sen. Bernie Sanders (I–Vt.) tweets that "billionaires should not exist." The conversation gets people so excited that soon former cabinet secretaries are tweeting that there are no honest ways to accumulate a billion dollars, commentators are warning that "these fortunes will destroy our democracy," and The New York Times is publishing entire news articles taking at face value the numerical fantasies of Warren's economic advisers.
It was just another week in the 2020 Democratic presidential primaries, in other words, albeit with one main exception—the race saw the entrance of a brand new (though also old) billionaire! All of which gets a thorough round of yakking from Nick Gillespie, Peter Suderman, Matt Welch, and Katherine Mangu-Ward on today's Reason Roundtable podcast. The gang also talks about the latest impeachment dramedy, the best arguments in favor of capitalism, and the life well lived of the late libertarian philanthropist and financial-markets investor Don Smith.
Audio production by Ian Keyser and Regan Taylor.
Relevant links from the show:
"The Reason Podcast Is Now 3 Great New Podcasts. Subscribe!" by Katherine Mangu-Ward
"Democratic Wealth Tax Proposals Demonstrate Economic Ignorance," by Veronique de Rugy
"Elizabeth Warren Wants To Raise Taxes by $26 Trillion," by Peter Suderman
"Elizabeth Warren's 'Wealth Tax' Is Punishment, Not Taxation," by Ira Stoll
"Leftist Tax Schemes Bash the Rich, but Depend on Their Success," by Steven Greenhut
"Are Billionaires a Policy Failure?" by Matt Welch
"Reason.tv: Investor Don Smith on the Economy," by Nick Gillespie