«Breaking News» Sanders launches plan to expand the estate tax including taking 77 per cent from billionaires

Sen. Bernie Sanders presented a plan Thursday to expand estate taxes on the wealthy, including a new 77 percent rate on billionaires', as he becomes the latest liberal Democrat to advocate a levy on the rich to combat income inequality.

'The fairest way to reduce wealth inequality, invest in the disappearing middle class and preserve our democracy is to enact a progressive estate tax on the inherited wealth of multi-millionaires and billionaires,' Sanders tweeted of his proposal.

Sanders dropped his plan amid speculation he'll make another run for the Democratic presidential nomination next year.  

Bernie Sanders' new plan expand estate taxes on the wealthy, including a new 77 percent rate on billionaires'

Sanders dropped his plan amid speculation he'll make another run for the Democratic presidential nomination next year

His legislation, the 'For the 99.8% Act,' would tax the estates of the 0.2 percent of Americans who inherit more than $3.5 million, while the rest of the country 'would not see their taxes go up by one penny under this plan,' his aides told The Washington Post.

Sanders touted how only the rich would be affected by his proposal: 

'Our bill only applies to the richest 0.2% of Americans. It would establish a: 

-45% tax on estate values $3.5M to $10M 

-50% tax on estate values $10M to $50M 

-55% tax on estate values over $50M

-77% tax on estate values over $1 billion,' the liberal senator from Vermont tweeted.

He is the latest 2020 contender to push a plan aimed at the wealthy - a sign income inequality will be a huge issue in the race for the Democratic presidential nomination.

A Fox News poll out last week showed 70 percent of Americans favor raising taxes on those who make over $10 million. 

Sanders' plan would raise $2.2 trillion from 588 billionaires, but it's not known how long because the tax only kicks in once they die, his staff told the paper.

Sanders, seen here campaigning in 2016, is believed to be making another run next year

Sanders touted his plan as a way to less income inequality

Over the next decade, it would raise $315 billion, they claim.

Sanders is not the only liberal out with a tax on the rich. 

Liberal Sen. Elizabeth Warren, another 2020 contender, recently released her 'Ultra Millionaire' tax that includes a 2 percent annual tax on those with more than $50 million and a 3 percent annual tax on those with more than $1 billion.

Income inequality is an issue being embraced by the progressive wing of the Democrats.

Freshman Rep. Alexandria Ocasio-Cortez, a self-described socialist, is advocating for a 70 percent tax rate on those making more than $10 million. 

 

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https://hienalouca.com/2019/02/01/sanders-launches-plan-to-expand-the-estate-tax-including-taking-77-per-cent-from-billionaires/
Main photo article Sen. Bernie Sanders presented a plan Thursday to expand estate taxes on the wealthy, including a new 77 percent rate on billionaires’, as he becomes the latest liberal Democrat to advocate a levy on the rich to combat income inequality.
‘The fairest way to reduce wealth inequality,...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves US News HienaLouca





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