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...It is hard to grasp the enormity of the tax increases Bernie Sanders is proposing, how far out-of-step he is with recent economic history in the U.S., and what a stunning contrast he presents with Republican presidential hopefuls. Where Sanders backs tax increases of more than $1 trillion a year aimed mostly at high income households, GOP candidates are proposing massive tax cuts that would largely benefit those same taxpayers...He estimates his “Medicare for all” health plan alone would cost nearly $1.4 trillion annually. To help finance it, he’s proposing a 6.2 percent employer tax, which he calls an “income-based health care premium” (and which would likely be passed on to workers). And a 2.2 percent income-based tax on most households. And income tax rate hikes on income in excess of $250,000, with a top rate of 52 percent, a level the US has not seen since 1981. And big rate hikes on most investment income, which would be taxed at the same rate as wages. And he’d expand the estate tax and cap the value of deductions at 28 percent for those making $250,000 or more.....http://www.forbes.com/sites/beltway/2016/01/19/bernie-sanders-is-proposing-really-big-tax-increases/#16bd7448617c
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Topic: Here's Just How Enormously Big Bernie Sanders' Tax Increases Would Be (Read 209 times)
