Democratic Primaries
Related: About this forumDemocratic White House hopeful Sanders urges 'wealth tax' on richest 180,000 Americans
Source: Reuters
Democratic White House hopeful Sanders urges 'wealth tax' on richest 180,000 Americans
Simon Lewis
3 MIN READ
WASHINGTON (Reuters) - U.S. presidential contender Bernie Sanders released a plan on Tuesday to tax fortunes worth more than $32 million, in a move that follows his Democratic rival Elizabeth Warrens own wealth-tax proposal.
Sanders, a U.S. senator from Vermont, said his extreme wealth tax would address historically high levels of inequality and fund his healthcare plan, known as Medicare for All, as well as plans for affordable housing and universal childcare.
Enough is enough. We are going to take on the billionaire class, substantially reduce wealth inequality in America and stop our democracy from turning into a corrupt oligarchy, Sanders said in a statement.
Sanders, one of 19 Democratic candidates hoping to challenge Republican President Donald Trump in the November 2020 election, is calling for a dramatic economic restructuring that would limit corporate influence and level the economic playing field.
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Read more: https://www.reuters.com/article/us-usa-election-sanders/democratic-white-house-hopeful-sanders-urges-wealth-tax-on-richest-180000-americans-idUSKBN1W91I3
primary today, I would vote for: Joe Biden
brooklynite
(93,873 posts)...if they take back the White House in 2024 after campaigning on Sanders' socialist policies, there'll be a lot of money in the Treasury they can use to give out more tax cuts...
primary today, I would vote for: Joe Biden
comradebillyboy
(10,119 posts)going to enact his legislative proposals. He won't be part of the next administration.
primary today, I would vote for: Joe Biden
Wawannabe
(5,580 posts)I am guessing even though hes a multimillionaire hell draw the line above his tax bracket! Tax yourself Bernie !
primary today, I would vote for: Joe Biden
Hoyt
(54,770 posts)child care, college debt reduction, "free" college, climate change, infrastructure, bolstering Social Security, deficit and debt reduction, etc.
Not against it at all, but to pay for the things we need/want, increased tax rates are going to have to reach much lower income levels. Time to own up to it.
And, as article says: "Some governments, including France, have in the past abandoned wealth taxes after they found they were difficult to administer and sometimes led to the wealthy leaving the country."
primary today, I would vote for: Joe Biden
George II
(67,782 posts)Is he proposing a tax on "income" or "assets"?
primary today, I would vote for: Joe Biden
Eugene
(61,595 posts)The last paragraph mentions a new national wealth registry, tracking of foreign assets, and audits of all billionaires.
primary today, I would vote for: Joe Biden
SharonClark
(10,005 posts)primary today, I would vote for: Joe Biden
George II
(67,782 posts)People and trillions of dollars will leave the country since this appears to be a recurring tax on the same "wealth" year after year.
Is this a "list"? This is frightening. Plus, the IRS audits INCOME tax returns, not net worth. Again, frightening.
primary today, I would vote for: Joe Biden