Establish a Wealth Tax on the Top 0.1 percent Archives

daniel September 14, 2017 “last-in, 4 percent income-based premium paid by households, 7.5 percent income-based premium paid by employers, Bernie Sanders' Proposed Medicare for All Tax Increases, By U.S. Senator Bernie Sanders (I-Vermont), Close the Gingrich-Edwards Loophole and Create Parity for Wealthy Business Owners, Establish a Wealth Tax on the Top 0.1 percent, first-out” (LIFO) accounting method, Impose a Fee on Large Financial Institutions, Impose a one-time tax on currently held offshore profits, Limit tax deductions for the wealthy, Make the Estate Tax More Progressive, Make the Personal Income Tax More Progressive, Medicare for All Tax Increases, Options to Make the Wealthy Pay Their Fair Share, Options to Make Wall Street and Large, Options to Save Families and Businesses on Health Care Expenses, Profitable Corporation Pay Their Fair Share, Progressive income tax rates., Repeal Corporate Accounting Gimmicks, Revenue raised: $249 billion over ten years., Savings from Health Tax Expenditures, Taxing capital gains and dividends the same as income from work.

Bernie Sanders’ Proposed Medicare for All Tax Increases

Progressive income tax rates.
Under this plan the marginal income tax rates would be:

40 percent on income between $250,000 and $500,000.
45 percent on income between $500,000 and $2 million.
50 percent on income between $2 million and $10 million. (In 2014, only 136,000 households, the top 0.1 percent of taxpayers, had income between $2 million and $10 million.)
52 percent on income above $10 million. (In 2014, only 16,700 households, just 0.02 percent of taxpayers, had income exceeding $10 million.)