REPORT: Bernie Sanders’s new tax plan takes 77 percent from dead billionaires

As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by DailyMail:

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.

The article goes on to state the following:

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.

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The post REPORT: Bernie Sanders’s new tax plan takes 77 percent from dead billionaires appeared first on DML News.

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