“They're just wrong.” That was Elizabeth Warren's DemDebate answer to economists who worry about the effects of tax increases. Here's what you should know about the wealth tax:
Bernie Sanders
has proposed hiking estate taxes, up to 77 percent for estates valued above $1 billion and capping itemized deductions at 28 percent for households making over $250,000. Former Vice Presidentwould increase the tax rate on Americans in the top earnings bracket to 39.6 percent. He would also put a 28% cap on the value of tax breaks for wealthy taxpayers. Former Rep.advocates raising the estate tax rate to 45 percent and lowering the exemption to $3.
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