Sen. Elizabeth Warren is calling out Washington Redskins owner Dan Snyder, and this time it has nothing to do with his football team’s name.
In a tweet Saturday, the Massachusetts senator and 2020 presidential candidate used Snyder’s recent purchase of a $100 million yacht as evidence that the super-wealthy could afford to pay her recently proposed wealth tax. As the Washington Post reported, the 305-foot ship is believed to be the first “superyacht” with a certified Imax theater.
“This billionaire NFL owner just paid $100M for a ‘superyacht’ with its own Imax theater,” Warren wrote. “I’m pretty sure he can pay my new #UltraMillionaireTax to help the millions of yacht-less Americans struggling with student loan debt.”
Warren unveiled a proposed wealth tax on so-called “ultra-millionaires” this week. Rather than taxing income, the 2 percent annual fee would apply to all assets, including stocks and real estate, owned by households with a net worth of $50 million or more. It would also include an additional 1 percent surtax on the assets of households with a net worth of over $1 billion.
Warren is the first declared 2020 candidate to propose a tax on wealth.
“It’s time to fundamentally transform our tax code so that we tax the wealth of the ultrarich, not just their income,” she told The New York Times. “By asking our top 75,000 households to pay their fair share, my proposal will help address runaway wealth concentration and at the same time accelerate badly needed investments in rebuilding our middle class.”
Snyder has a net worth of $2.2 billion, according to Forbes. The 54-year-old, who has been named the most hated owner in the league, is hardly the first NFL owner to buy a superyacht. He does, however, appear to be the first to do so while both hemorrhaging fans and seeking publicly owned land to build a new stadium.