estate tax: Elizabeth Warren wants to target wealth, and now Vermont Independent Sen, according to CNN. Bernie Sanders has a third proposal for taxing the very rich Hit their estates. Alexandria Ocasio-Cortez is going after income, Massachusetts Sen. Sanders, who is considering a 2020 presidential run, unveiled a proposal Thursday that would expand the federal estate tax on the wealthiest 0.2% of Americans, imposing a top rate of 77% on estates worth more than 1 billion. The increasing and varied levies would raise revenue to pay for new social spending and, more radically, to redistribute wealth -- and power -- across a society where the richest three people in the US, according to a report cited by Sanders, now own more wealth than the entire bottom half of the American population combined. Sanders' bill is the latest call to restructure the tax code to address the dramatic rise in US economic inequality.
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