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May 2 - Sanders says US needs progressive taxation on the wealthy to pay fo infrastructure



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 1 week ago '15        #1
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May 2 - Sanders says US needs progressive taxation on the wealthy to pay fo infrastructure
 

 

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Independent Sen. Bernie Sanders of Vermont on Sunday said that the US needs to institute "progressive taxation" on inherited wealth to help fund President Joe Biden's spending proposals, notably a $2 trillion infrastructure plan.

During an appearance on NBC's "Meet the Press," Sanders stressed that it was imperative that the country deals with pertinent and longstanding economic issues facing the country.

"We have massive income and wealth inequality," he said. "Half our people live on paycheck to paycheck. We've got to raise the minimum wage to a living wage. You've got to do that."

Progressive legislators sought to include a $15 minimum wage bill provision in the $1.9 trillion COVID-19 relief package while it was being debated in Congress earlier this year, but Senate parliamentarian Elizabeth MacDonough ruled that it could not be included in the final bill under budget reconciliation rules.

Sanders, who has long said that the nation's infrastructure was in dire need of repair, stressed that Biden's spending plans would be beneficial to the American public.

"We have infrastructure that is collapsing," he said. "We've got to address the existential threat of climate change. When you make those investments, we create millions of good-paying jobs."

Reminiscent of his 2016 and 2020 presidential campaigns, Sanders also brought up the need for health care reform and student loan debt, issues that progressives in Congress have not forgotten about.

"We are the only major country not to guarantee health care to all people as a right, the only major country not to have paid family and medical leave," he said. "We pay the highest prices in the world for prescription drugs. Hundreds of thousands of kids can't afford to go to college, and millions leave school deeply in debt. Well, you know what? You've got to address those issues."

Sanders, who chairs the powerful Senate Banking Committee, then went after major corporations that he says haven't paid any federal income taxes and again called for instituting a progressive estate tax rate starting at 45% on inherited wealth of more than $3.5 million.

"Warren Buffett, one of the richest guys in the world, reminds us that the effective tax rate for working families is higher than it is for the billionaire class," he said. "I do think we need progressive taxation, which says to the very rich Biden says the cap should be, the floor should be $400,000. Nobody under that should pay more in taxes."

He added: "The very rich and large corporations should start paying their fair share of taxes to help us rebuild America and create the jobs that we need."


When Sanders was asked if he would back the spending proposals if they don't come with the desired tax increases, the senator said that "the devil is in the details."

"I think once we start discussing these issues in the Congress, there will be differences of opinion," he said. "I think there is a consensus, at least within the Democratic caucus, that now is the time to start protecting working families and the middle class and not just the 1 percent."
visit this link https://www.businessinsid .. ucture-2021-5?
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 1 week ago '17        #2
TheLastNonEarth  topics gone triple plat - Number 1 spot x13
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I fux with Bernie, but sometimes he comes off as a hater.

I agree that corporations should pay their fair share, but id prefer if the 'inequality' rhetoric was toned down for people like Bezos.

He took a huge risk, and started by running amazon out of his garage. He's made thousands of other people millionaires.

We're playing monopoly, and HE WON THE GAME.
Either We're playing this capitalism game or not. It's designed for a small percentage of people to win. Remove the incentive to become one of those few people and you ruin the game

Every idiot with a 100 dollar investment needs to believe he can win at the capitalism casino or the casino will go down.


Why not get rid of some of YOUR WEALTH Bernie. You got way more money than the average person. You won the game too, just not as well as Bezos did
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 1 week ago '20        #3
Xiox  topics gone triple plat - Number 1 spot x1
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I wish someone would say let's cut the Pentagons budget
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 1 week ago '15        #4
Mexicanelvis 
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Why do we need to tax more, why not stop spending so much on empire building

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 1 week ago '16        #5
Boogersugar  topics gone triple plat - Number 1 spot x13
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 TheLastNonEarth said


I fux with Bernie, but sometimes he comes off as a hater.

I agree that corporations should pay their fair share, but id prefer if the 'inequality' rhetoric was toned down for people like Bezos.

He took a huge risk, and started by running amazon out of his garage. He's made thousands of other people millionaires.

We're playing monopoly, and HE WON THE GAME.
Either We're playing this capitalism game or not. It's designed for a small percentage of people to win. Remove the incentive to become one of those few people and you ruin the game

Every idiot with a 100 dollar investment needs to believe he can win at the capitalism casino or the casino will go down.


Why not get rid of some of YOUR WEALTH Bernie. You got way more money than the average person. You won the game too, just not as well as Bezos did
There's no less incentive. What are you talking about? Wealth is relative. There will always be the same incentive to have more than the person next to you. That's human nature. That was just as true when the top tax rate was 90% as it is now and is the same as it would be if the tax rate is 0%. The tax rate has no impact on people's desire to have more than the person next to them or to keep up with the Joneses. None.
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 1 week ago '16        #6
00010111  topics gone triple plat - Number 1 spot x4
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BX billionaire crew already in here caping for the 1%.

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 1 week ago '07        #7
yola  topics gone triple plat - Number 1 spot x45
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there's plenty of money for everyone and everything, but conservative christians want the people who matter and contribute the least to have to ability to hoard it, so they can gamble on high stakes bets

it's crazy how people keep perpetuating the narrative that Bezos is some hard work success story, somehow, the part about borrowing and failing and obstructing competition for over a decade gets left out of the narrative every time
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 1 week ago '17        #8
TheLastNonEarth  topics gone triple plat - Number 1 spot x13
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 Boogersugar said
There's no less incentive. What are you talking about? Wealth is relative. There will always be the same incentive to have more than the person next to you. That's human nature. That was just as true when the top tax rate was 90% as it is now and is the same as it would be if the tax rate is 0%. The tax rate has no impact on people's desire to have more than the person next to them or to keep up with the Joneses. None.


You misunderstood my point in regards to Bernie's focus on Inequality

Hypothetically speaking, removing the ability to become one of those Bezos type people would ruin the game of capitalism. Inequality is baked into the system. How many more millionaires can you have until a million dollars isn't as valuable as it is today?

If you earned it, you earned it right? Bernie earned his spot above most people financially too.
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 1 week ago '16        #9
Boogersugar  topics gone triple plat - Number 1 spot x13
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 TheLastNonEarth said


You misunderstood my point in regards to Bernie's focus on Inequality

Hypothetically speaking, removing the ability to become one of those Bezos type people would ruin the game of capitalism. Inequality is baked into the system. How many more millionaires can you have until a million dollars isn't as valuable as it is today?

If you earned it, you earned it right? Bernie earned his spot above most people financially too.
No, I didn't misunderstand you're just wrong. How could you possibly remove the ability to become a "Bezos-type" with higher taxes on the wealthy?

When the highest marginal tax rate was 90%, there is nothing supporting that people strived less or didn't try to reach that highest earning bracket. And there were still people that were much richer than others.

 1 week ago '17        #10
TheLastNonEarth  topics gone triple plat - Number 1 spot x13
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 Boogersugar said
No, I didn't misunderstand you're just wrong. How could you possibly remove the ability to become a "Bezos-type" with higher taxes on the wealthy?

When the highest marginal tax rate was 90%, there is nothing supporting that people strived less or didn't try to reach that highest earning bracket. And there were still people that were much richer than others.
Reading comprehensive 》 everything.

I said I didn't have a problem with them paying a fair share. I pointed to the inequality rhetoric. That's the name of the game. Bernie has an unequally high amount of wealth himself. Capitalism leads to gross inequality.
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 1 week ago '16        #11
Boogersugar  topics gone triple plat - Number 1 spot x13
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 TheLastNonEarth said
Reading comprehensive 》 everything.

I said I didn't have a problem with them paying a fair share. I pointed to the inequality rhetoric. That's the name of the game. Bernie has an unequally high amount of wealth himself. Capitalism leads to gross inequality.
Reducing inequality does not eliminate the incentives to try and have more than the person next to you. Even with a top tax rate of 90% we didn't see that. We've had less inequality in the past and we've never seen people stop striving and we've always had ultra-wealthy people. Rhetoric doesn't impact that either. You are wrong.
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 1 week ago '17        #12
TheLastNonEarth  topics gone triple plat - Number 1 spot x13
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 Boogersugar said
Reducing inequality does not eliminate the incentives to try and have more than the person next to you. Even with a top tax rate of 90% we didn't see that. We've had less inequality in the past and we've never seen people stop striving and we've always had ultra-wealthy people. Rhetoric doesn't impact that either. You are wrong.
Reducing inequality does not eliminate the incentives

I agree with you. I said that the incentive to get rich and become like Bezos is what drives this capitalism ship.


That drive leads to inequality, especially when you get wealthy enough to steer policy in your direction.
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 1 week ago '11        #13
Sin  topics gone triple plat - Number 1 spot x29
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 00010111 said
BX billionaire crew already in here caping for the 1%.

BX thousandaires are here lol




Bernies has great ideas but nobody wants to be taxed more

 1 week ago '12        #14
Gramz  topics gone triple plat - Number 1 spot x41
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 Xiox said
I wish someone would say let's cut the Pentagons budget
Bernie tried to push a bill that would have cut 8% into the defense budget and even some of the corporate Dems like Kamala were clutching their pearls on how dare he try to cut an inflated budget and give it back to programs for communities.

Trump tripled the defense budget and Biden actually just raised it.
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 1 week ago '12        #15
Gramz  topics gone triple plat - Number 1 spot x41
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We spend more on national defense than we did during the Cold War, the Vietnam War, and the Korean War

 1 week ago '16        #16
foshoVoodoo  topics gone triple plat - Number 1 spot x34
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call it the covid tax since they gonciding us n sterilizing us at the same time. Lets sterilize them pockets

 1 week ago '20        #17
Xiox  topics gone triple plat - Number 1 spot x1
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I say we need less taxes because the government is to wasteful in spending money



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