Why do we fail in protecting our own people’s health and well-being while we squander more than a trillion dollars each year – with the assent of both Republicans and Democrats – on maintaining a failed and futile military empire across the world?
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And in addition to the 3 billionaires Bernie mentioned, we should also be worried about the expanding fortunes of multi-generational wealth dynasties
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American wealth inequality is staggering. A wealth tax, which would home in on the money people actually have, rather than just the money we earn and spend, could be a solution.
Between 1930 and 1980, the rate applied on the highest incomes was on average 81 percent, and the rate applied to the highest inherited estates was 74 percent. Clearly this did not destroy American capitalism.
Sanders plans to introduce an estate tax plan with rates up to 77 percent. The "For the 99.8% Act," would tax the estates of those who inherit more than $3.5 million. The proposal comes after Republican senators call for eliminating the estate tax.
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