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Sanders unveils 'extreme' wealth tax proposal
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| Contributor | RP |
| Last Edited | RP Sep 24, 2019 09:07am |
| Category | Proposed Legislation |
| News Date | Sep 24, 2019 07:50am |
| Description | Sen. Bernie Sanders (I-Vt.) unveiled a wealth tax proposal on Tuesday that goes further than his Democratic presidential race rival Elizabeth Warren in hitting the rich with new taxes.
The Sanders plan, which he touts as a "Tax on Extreme Wealth," would kick in at a lower threshold than his fellow senator's proposal, and would rise all the way to an 8 percent tax on households with wealth over $10 billion.
While Warren's plan starts with a 2 percent tax on wealth valued at between $50 million and $250 million, the Sanders plan starts with a 1 percent tax on net worth above $32 million. |
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