News | 02.01.19
Bernie Sanders Proposes Estate Tax of Up to 77 Percent for Billionaires
Independent Senator Bernie Sanders of Vermont, who is considering a second run for president, is proposing to expand the estate tax on wealthy Americans, including a rate of as much as 77 percent on the value of estates above $1 billion. Sanders's plan comes as potential Democratic challengers to President Donald Trump eye progressive tax ideas intended to reduce income inequality. Polls show that voters are becoming more receptive to the idea of increasing taxes on the wealthy. Freshman Democratic Representative Alexandria Ocasio-Cortez of New York floated a 70 percent top tax rate on incomes of $10 million or more, an idea that 59 percent of people supported in a Hill–HarrisX poll conducted January 12-13.
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