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  1. #1 Bernie Sanders Proposes 77% Estate Tax For Billionaires 
    Senior Member Banacek's Avatar
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    Jumping on the "tax the rich" bandwagon, senator Bernie Sanders has proposed to expand the estate tax on wealthy Americans, including a rate of up to 77% on the value of estates above $1 billion.

    Sanders, who is considering a fresh run for president, said in a statement his plan would apply to the wealthiest 0.2% of Americans, with Bloomberg reporting that his proposal would set a 45% tax on the value of estates between $3.5 million and $10 million, increasing gradually to 77% for amounts more than $1 billion. The current estate tax kicks in when an estate is worth about $11 million.

    If enacted, the legislation would raise up to $2.2 trillion in estate taxes from the families of all 588 billionaires in the U.S. with a combined net worth of more than $3 trillion, according to a summary of the plan.

    Sanders’s plan comes as potential other challengers to President Trump eye progressive tax ideas intended to reduce income inequality. One such proposal comes from Senator Elizabeth Warren who is seeking an annual 2% tax on households worth more than $50 million. Sanders, who ran in the Democratic primaries against Hillary Clinton in 2016, hasn’t yet confirmed whether he’ll run in 2020.

    While the estate tax exemption was $3.5 million as recently as 2009, in 2017 the GOP tax overhaul increased the exemption to $11 million through 2025, and some Senate Republicans are renewing an effort to repeal the tax entirely
    https://www.zerohedge.com/news/2019-...x-billionaires
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    Senior Member Dlr Pyro's Avatar
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    no society has ever taxed their way into prosperity. Apparently the democrat party didn't get this memo.
    "People who think they know it all, are annoying to those of us who really do".... Pyro Bob

    "Even if Trump didn't pay Russian hookers to pee on one another to defile a bed the Obamas once slept on it sounds like something he would do and that's all that matters." DemocratSinceBirth, Wed Jan 11, 2017, 09:32 AM

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    Festivus Moderator ralph wiggum's Avatar
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    And Dems rarely create jobs. This will benefit tax lawyers to maneuver money legally before and after the uber wealthy pass on.
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    Senior Member DumbAss Tanker's Avatar
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    It would be very unusual for a billionaire to directly give that kind of property to his oor her heirs free and clear. There are several trust and corporate vehicles specifically designed to avoid direct taxable transfers.
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    Festivus Moderator ralph wiggum's Avatar
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    Quote Originally Posted by DumbAss Tanker View Post
    It would be very unusual for a billionaire to directly give that kind of property to his oor her heirs free and clear. There are several trust and corporate vehicles specifically designed to avoid direct taxable transfers.
    Very true. One of my least favorite business cliche's, but that is "above my pay grade". Only because I don't specialize in family estate tax law, and am not a lawyer. Corporate taxation is more my speed.

    Rather amazing that the Walton family still has about 10 of the top 20 richest people in the U.S. Has been several years since I looked that up.
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    Senior Member Tecate's Avatar
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    There was one thing ever that I agreed with Bernie Sanders. In the 2008 financial collapse, he did speak out against the too big to fail banksters and the federal reserve.

    Other than that, he’s pretty much a piece of shite who rolled over and played along with Hillary Clinton stealing the Democratic nomination from him.

    His name was Seth Rich...
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    Senior Member Dlr Pyro's Avatar
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    that freshman muslim chick from Minnesota is upping the ante to 90% because she doesn't feel the 1% are paying their "fair" share

    “There are a few things that we can do,” Rep. Omar said in an interview with “Through Her Eyes.” “One of them, is that we can increase the taxes that people are paying who are the extremely wealthy in our communities. So, 70 percent, 80 percent, we’ve had it as high as 90 percent. So, that’s a place we can start.”

    “The one percent must pay their fair share,” she continued.
    https://news.yahoo.com/rep-ilhan-oma...135004259.html

    of concern is her comments about our Defense spending...

    The national defense budget is another area Rep. Omar has her eye on.

    “I’m also one that really looks at the defense budget that we have, Rep. Omar said. “That has increased nearly 50% since 9/11. And so, most of the money that we have in there is much more than with we spend on education, on healthcare.”
    The left is all but convinced that President Trump is Putin's puppet. With comments like this about our Defense spending, I wonder who in the muslim world is pulling her puppet strings.
    "People who think they know it all, are annoying to those of us who really do".... Pyro Bob

    "Even if Trump didn't pay Russian hookers to pee on one another to defile a bed the Obamas once slept on it sounds like something he would do and that's all that matters." DemocratSinceBirth, Wed Jan 11, 2017, 09:32 AM

    "Enemy. The word you are looking for is enemy. When the ideals of someone are antithetical to yours, you can say the word "enemy". DUmmy ret5hd Fri Aug 24, 2018, 05:10 PM
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