February 3, 2019
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5:26Now PlayingBernie Sanders just unveiled his new tax plan. John Iadarola breaks it down on The Damage Report. Follow The Damage Report on Facebook
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"Sen. Bernie Sanders plans to introduce an expanded estate tax plan with rates up to 77 percent as he explores another run for the presidency.
Sanders touted the plan on Twitter after The Washington Post first reported it Thursday morning.
The "For the 99.8% Act" would tax the estates of those who inherit more than $3.5 million, which Sanders estimates is 0.2 percent of the country. Currently, the estate tax only applies to individuals who inherit more than $11 million, as a result of the 2017 Tax Cuts and Jobs Act passed by Republicans."
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