Sanders launches plan to expand the estate tax including taking 77 per cent from billionaires 

Mail Online | 1/31/2019 | Emily Goodin, U.s. Political Reporter For Dailymail.com
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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.

Sanders - Plan - Speculation - Run - Nomination

Sanders dropped his plan amid speculation he'll make another run for the Democratic presidential nomination next year.

His legislation, the 'For the 99.8% Act,' would tax the estates of the 0.2 percent of Americans who inherit more than $3.5 million, while the rest of the country 'would not see their taxes go up by one penny under this plan,' his aides told The Washington Post.

Sanders - Proposal

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:

% - Tax - Estate - Values

-45% tax on estate values $3.5M to $10M

-50% tax on estate values $10M to $50M

% - Tax - Estate - Values

-77% tax on estate values...
(Excerpt) Read more at: Mail Online
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