Sen. Bernie Sanders (I-Vt.) just proposed huge increases to the estate tax, which would reverse decades of cuts that have allowed the nation’s richest to establish generations of wealth. Sanders wants to tax billionaires at a rate of 77 percent when they die, a massive increase from the current rate. His Thursday announcement of what he’s calling the For The 99.8% Act came just days after Republican senators announced they wanted to repeal the estate tax wholesale. introduced legislation that would go even further: permanently eliminating the federal estate tax altogether. Emmanuel Saez, a supporter of Sanders' estate tax proposal

Source: Huffington Post January 31, 2019 15:30 UTC