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I thought the same thing so I looked it up. Sander’s proposal to increase the estate tax to near Clinton era levels and recover some of the trust loophole woul
by CoolGuySteve 7y ago
I thought the same thing so I looked it up. Sander’s proposal to increase the estate tax to near Clinton era levels and recover some of the trust loophole would only recover about $300 billion over the next 10 years (about 1% of federal revenue).
Warren estimates her wealth tax will generate $2.75 trillion over the same time period. I’m skeptical she’ll hit that target but it’s still many times greater.
The Atlantic says Medicare for all would cost $34 trillion over 10 years.
- etrautmann 7y agoyes but it also has the added benefit of preventing heirs of plutocrats from hijacking democracy.
- CoolGuySteve 7y agoThere are so many loopholes involving trusts, corporate ownership, family foundations, and offshore assets that the effective tax rate is actually not that high. The Walton family is a good case study. So heirs are still gonna heir, for the most part.