Elizabeth Warren: "The system is rigged"

Massachusetts Senate candidate Elizabeth Warren addresses the Democratic National Convention in Charlotte, N.C., on Wednesday, Sept. 5, 2012.

/ AP Photo/J. Scott Applewhite

(CBS News) CHARLOTTE, N.C. -- Massachusetts Senate candidate Elizabeth Warren slammed Wall Street, talked about economic issues and took the opportunity to sharply criticize Mitt Romney during her speech to the Democratic National Convention Wednesday night.

Warren, the Harvard professor who's locked in a tight battle with Republican Sen. Scott Brown, said she and President Obama are on the side of small business owners.

"People feel like the system is rigged against them. And here's the painful part: they're right," she said.

"Oil companies guzzle down billions in profits. Billionaires pay lower tax rates than their secretaries. And Wall Street CEOs--the same ones who wrecked our economy and destroyed millions of jobs--still strut around Congress, no shame, demanding favors, and acting like we should thank them."

As for small business owners, Warren added, "Not one of them--not one--made big bucks from the risky Wall Street bets that brought down our economy."

"I talk to nurses and programmers, salespeople and firefighters--people who bust their tails every day. Not one of them--not one--stashes their money in the Cayman Islands to avoid paying their fair share of taxes," Warren continued, alluding to Democratic accusations that Romney is stashing some of his wealth in offshore accounts.

(Watch the full speech at left)

She also accused Romney of wanting "to give tax cuts to millionaires and billionaires...but for middle-class families who are hanging on by their fingernails? His plans will hammer them with a new tax hike of up to $2,000."

"Mitt Romney wants to give billions in breaks to big corporations - but he and Paul Ryan would pulverize financial reform, voucher-ize Medicare, and vaporize Obamacare," she added.

"After all, Mitt Romney's the guy who said corporations are people. No, Governor Romney, corporations are not people. People have hearts, they have kids, they get jobs, they get sick, they cry, they dance. They live, they love, and they die. And that matters. That matters. That matters because we don't run this country for corporations, we run it for people," Warren said.

Warren's high-profile, prime time appearance at the convention just prior to former President Bill Clinton serves two purposes: to fight back against Republican attacks, especially their continued use of the president's "you didn't build that" line, and to boost her profile for the final stretch of her Senate campaign.

"President Obama believes in a level playing field," she said. "He believes in a country where nobody gets a free ride or a golden parachute.

"A country where anyone who has a great idea and rolls up their sleeves has a chance to build a business, and anyone who works hard can build some security and raise a family," she added.

"President Obama believes in a country where billionaires pay their taxes just like their secretaries do."

[TimeToEvolve]

After the Democratic Convention and the RepubliCON CONvention, it makes the idiocy of the Cons party that much more apparent. They have no plans, no ideas to help anyone but rich white men. They really are a cult, a band of ideological radicals that are out to serve a few billionaires at the expense of the rest of us. And people vote for this. Unbelievable.

[baser13]

Well said, " The only freedom we keep is that of self-thought and choice, once they too are surrendered we lose our individuality conforming to whatever trickles down our way.

[thefatcat2]

WHO IS THE PARTY OF WALL STREET
Democrats are and have been the party of wall street.
SIMPLY CHECK THE OBAMA DONATIONS

[baser13]

TOP 5 OBAMA_CHANGE donors MICROSOFT-419K, UNIVERSITY OF CALI-412K, DLA PIPER-315K, GOOGLE-304K, HARVARD U.-277K.

TOP 5 ROMNEY_BELIEVE ME donors GOLDMAN SACHS-637K, JP CHASE BANK-503K, MORGAN STANLEY-477K, BANK OF AMERICA-466K, CREDIT SUISSE-422K.

When did progressive industries like Universities, Internet and its diverse holdings become Wall Street not to mention the lowest of Romney's donors contributed more than Obama's top donor. The facts are out there please I encourage you not to take my word for it, don't believe me believe what you find out through your independent verification of statements and events.

[TimeToEvolve]

Exactly, that is why there never was, is not and never will be a "free" market. This is a scam made up by rich, greedy people so they could exploit the rest of us.

And the stupid, pathetic, blind Republicon Party is STILL running on this crap. Unbelievable!!!!!

[baser13]

@urtruth2141 let's get down to it since you newfound Arithmetic Masters don't seem to validate a law as simple as Arithmetic and with the complexity of Calculus. Forget your made up Romney numbers and let's forgo itemized deductions. Romney reported in 2010 about 21million taxed at long term capital gains .15x21mil= 3150000 now no matter how you put the secretary HoH or Single a 100K income puts her earned rate in the 25-28% brackets even at the .25x100K=25,000 her rate is higher and when proprtionate to Romney's wages of 21million she would pay .25x21mil=5,250,000 or 2,100,000 than Romney. Only with your creative math is it URTRUTH .

[TimeToEvolve]

Warren is awesome and a true progressive we need in the Senate. I keep giving donation and I recommend that we all do that. There is not excuse for Scott Brown. I thought MA was a educated blue state.

[GreedyOldPartee]

There are so many similarities between this election and 2008; GOP has big money corporation thugs backing them, no direction, answers or plans for America futures. They just want to be in charge. When will the conservatives take back their party, the absurd are running the party and always morphing into something different (crazier) like the T-baggies. If they were true to their cause, they would want transparency with Robme's tax return records.

[vengenceofgod100]

As far as i'm concerned Elizabeth Warren is the real deal, and I will definitely be voting for her in the election. Scott Brown on ran his cute slogan, the 'People's Candidate'. He's as phony as a three dollar bill with a picture of Mitt Romney on it. See gave a remarkable speech and I hope it propels her into the Senate. She has a backbone and Scott Brown doesn't. Go Liz!

[SpoonT]

See Captain, reading is how you learn things. Spewing out of that useless hole in your face doesn't actually make something true. To be critical of investigating a subject to learn is absolutely repulsive and I'm sure the reason you love Fox news. That and you having to concentrate longer than a goldfish is why Romney is where he is. Don't argue because you think you are right, find out what is right and argue for that

[qyeteye]

Amen.

[youngfarm]

There are a many furious people in America concerning their treatment by the "super citizens", those in Congress and in the White House. They are furious that millions of tax dollars are taken for personal perks, vacations to Spain, India, Hawaii, Copenhagen..hotels in Vegas by GSA employees...just anywhere the "super citizens" have an urge to visit for a conference or to "represent" the Joe Citizen of America. If voters continue to allow this practice to happen, it will continue to happen and will like get even worse. If you, as a concerned voter, do not participate in the political process, you will be controlled by inferiors. Keep watching your freedoms vanish.

[akibeel]

Seems like a h a g to me... hands up, mouth open in an obvious squaking motion... this my friend is what a Democrat looks like.

[netjunkie1]

Look at a mirror my friend.

[taxed01]

Warren - other people are supposed to pay my bills and they don't want to. Wa-Wa-Wa. Boo-Hoo-Hoo.