02-24-2020, 10:31 AM
--Sanders also proposes to revert back to the pre-Trump corporate tax rates and increase them for the highest earning and most profitable corporations, as well as implementing additional tax on those where the CEOs earnings are 50x more than the average employee's earnings.
--In addition, Sanders seeks to end massive tax breaks for the 0.1 wealthiest Americans, increasing government revenue by $14.5 trillion over 10 years.
He proposes a progressive tax on extreme wealth starting at 1 percent tax on net worth above $32.5 million for couples (equates to $5,000 in additional taxes).
The wealth tax rate would increase to 2% on net worth from $50 to $250 million, 3% from $250 to $500 million, 4% from $500 million to $1 billion, 5% from $1 to $2.5 billion, 6% from $2.5 to $5 billion, 7% from $5 to $10 billion, and 8% on wealth over $10 billion. These brackets are halved for singles.
--In addition, Sanders seeks to end massive tax breaks for the 0.1 wealthiest Americans, increasing government revenue by $14.5 trillion over 10 years.
He proposes a progressive tax on extreme wealth starting at 1 percent tax on net worth above $32.5 million for couples (equates to $5,000 in additional taxes).
The wealth tax rate would increase to 2% on net worth from $50 to $250 million, 3% from $250 to $500 million, 4% from $500 million to $1 billion, 5% from $1 to $2.5 billion, 6% from $2.5 to $5 billion, 7% from $5 to $10 billion, and 8% on wealth over $10 billion. These brackets are halved for singles.