Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Hillary Proposes Raising Estate Tax... Sort Of
Posted
September 24, 2016
Views
66,309
Likes
1,117
Comments
422
Engagement
2.32%
September 24, 2016
66,309
1,117
422
2.32%
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9:01Now PlayingHillary Clinton recently announced a new plan to raise the estate tax under very particular conditions. It’s not very ambitious, but it’s something. Shau shau change. Cenk Uygur, Ben Mankiewicz, Jimmy Dore, and Brett Erlich, hosts of The Young Turks, break it down. Tell us what you think in the comment section below.
"Originally, Clinton proposed increasing the tax on estates worth $3.5 million or more to 45 percent, raising it back to where it was after President George W. Bush succeeded in whittling it down from 55 percent. On its own, that plan would have raised $160 billion over a decade.
But her new position will go much further. She recently expressed support to the Committee for a Responsible Federal Budget (CRFB) for higher tax rates on the largest estates, along the lines of what Sen. Bernie Sanders (I-VT) was proposing during the primaries. The new rates would be 50 percent for individual estates valued over $10 million, 55 percent over $50 million, and the highest rate of 65 percent over $500 million. (All the thresholds would double for a married couple.) That would bring the highest rate back to where it was in 1982.
Currently, the estate tax is 40 percent on estates worth $5.45 million for an individual or $10.9 million for a married couple. Thanks to intricacies in the tax code and various loopholes the rich can use to shield their estates though, the effective rate is more like 17 percent.
According to the CRFB’s analysis, Clinton’s new proposals for the estate tax would tack on an additional $75 billion in revenue.”*
Read more here
Hosts: Cenk Uygur, Ben Mankiewicz, Jimmy Dore, Brett Erlich
Cast: Cenk Uygur, Ben Mankiewicz, Jimmy Dore, Brett Erlich
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The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 68pm ET.
Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)
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