A Progressive Tax System

Bernie Sanders believes that at a time of massive wealth and income inequality, we need a progressive tax system that is based on the ability to pay. The wealthiest Americans, large corporations, and Wall Street need to pay their fair share in taxes. Bernie Sanders considers it is unacceptable that major corporations have paid nothing in federal income taxes, and that corporate CEOs in this country often enjoy an effective tax rate that is lower than their secretaries.Bernie Sanders believes that at a time of massive wealth and income inequality, we need a progressive tax system that is based on the ability to pay. The wealthiest Americans, large corporations, and Wall Street need to pay their fair share in taxes. Bernie Sanders considers it is unacceptable that major corporations have paid nothing in federal income taxes, and that corporate CEOs in this country often enjoy an effective tax rate that is lower than their secretaries. On January 31, 2019, after Republicans introduced a bill in the Senate to repeal the estate tax, Sanders introduced an expansion of the estate tax, lowering its exemption amount and forming a progressive rate structure. In a statement, Sanders said the bill "does what the American people want by substantially increasing the estate tax on the wealthiest families in this country and dramatically reducing wealth inequality" and that the US would "not thrive when so few have so much and so many have so little." When Bernie Sanders is in the White House he intends to pass the For the 99.8 Percent Act to establish a progressive estate tax on multi-millionaire and billionaire inheritances. Sanders will eliminate offshore tax scams through the Corporate Tax Dodging Prevention Act. He will also scrap the income cap on Social Security payroll taxes through the Social Security Expansion Act so that millionaires and billionaires pay more into the system. Bernie Sanders is going to increase the top marginal tax rate on income above $10 million and close tax loopholes that benefit the wealthy and large corporations.
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