Tax the rich….
Give to the poor (And everybody else)…..
His….”Tax on Extreme Wealth” would kick in at earnings of $32 million….
Elizabeth Warren also has a wealth tax plan to kick in at $50 million…
Both idea’s are dead on arrival if Republicans still hold a majority in the US Senate….
University of California, Berkeley economists Emmanual Saez and Gabriel Zucman said in a letter that they estimate that Sanders’ proposed wealth tax would raise $4.35 trillion over a decade and would “fully eliminate the gap between wealth growth for billionaires and wealth growth for the middle class.”
Sanders proposes using the revenue raised from his wealth tax to pay for his affordable-housing plan and universal child care, as well as to help fund “Medicare for All.”
Warren and Sanders have been battling for progressive voters and attention as they contend with Biden for the Democratic presidential nomination. A wealth tax has been one of Warren’s signature proposals, with her supporters cheering it at rallies by chanting “two cents.” She has touted it as a way to pay for her other plans….