Tax the Rich and More: A Guide to Potential Democratic Plans
Wealth, estate taxes won’t cover all 2020 Democratic proposals. Levies that hit middle class could be on the progressives’ menu.
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Democratic presidential hopefuls are talking a big game about taxing the rich to pay for social programs.
Some ideas they’ve proposed so far—such as Senator Bernie Sanders’s plan to expand the estate tax, Senator Elizabeth Warren’s idea to impose an annual wealth tax on millionaires, or Senator Kamala Harris’s intention to repeal the Republican tax cuts—would raise some new tax revenue that Democrats would need to expand the social safety net. But Democrats will need trillions more to pay for key portions of some of the favored policy promises, including universal health care or free college tuition.