Soros-Aligned Dem. Donor Bankrolled 'Modern Marx' and His 80 Percent Income Tax
As Democrats gear up in an effort to retake Congress in the 2018 elections, many have decided to put forth a more moderate face, knowing they have to win in conservative states and districts. Meanwhile, extremely liberal donors still have a tremendous impact. The Houston, Texas, power couple of John and Laura Arnold deserves more attention in this light.
The Arnolds bankrolled an economist dubbed the "Modern Marx," who advocated for an 80 percent tax rate and a global wealth registry. They have partnered with notorious Leftist donors George Soros, Tom Steyer, and Michael Bloomberg. Their influence in the Democratic Party is on the rise.
According to the Center for Responsive Politics, former Enron trader John Arnold has made at least $2.5 million in federal campaign contributions to candidates, committees, and super PACs. His wife Laura has donated at least $900,000. The Arnolds have contributed to both parties, but overwhelmingly to Democrats.
In the 2018 cycle, the Laura & John Arnold Foundation has given $930,244, and 83 percent to Democrats and liberals. John Arnold bundled between $50,000 and $100,000 for Barack Obama in 2008. The couple were slated to host a $10,000-per-ticket Obama fundraiser featuring Michelle Obama in October 2011.
Both Laura and John Arnold donated $23,900 to the Democratic National Committee in 2008. Laura Arnold has donated more than $50,000 to the Democratic Senatorial Campaign Committee (DSCC).
For the 2018 cycle, both Arnolds maxed out their contributions ($5,400) for Sen. Claire McCaskill (D-Mo.) and Sen. Heidi Heitkamp (D-N.D.).
Together, the Arnolds gave at least $410,000 to Common Sense Leadership for America, a Super PAC supporting Rep. Darren Soto (D-Fla.). They also gave at least $650,000 to Californians for Innovation, a Super PAC backing Rep. Ro Khanna (D-Calif.). John Arnold gave at least $100,000 to Georgians Together, a PAC backing Rep. Michelle Nunn (D-Ga.). Finally, the couple together donated at least $200,000 to the American Leadership PAC, a group dedicated to progressive women running for governor.
While Laura Arnold identifies as a Democrat, her husband John hilariously claims to be a libertarian. What kind of libertarian bankrolls a research paper written by the "Modern Marx"?
In December 2016, the Laura and John Arnold Foundation funded a research paper by French economist Thomas Piketty — dubbed the "Modern Marx" — and California economist Gabriel Zucman, who has advocated for a global register of financial assets and a worldwide tax on global profits.
By December 2016, the Leftist views of both economists had become widely publicized. Zucman's book "Parking the Big Money" advocated a "radical reform of corporate taxation." As Cass Sunstein noted in January 2016 in The New York Review of Books, Zucman proposed "an automatic, fully global register, so that every government in the world can know where money is kept," and "a kind of tax on global profits, one that starts with the worldwide profits of firms, and then apportions them to each country."