Sen. Bernie Sanders (I., Vt.) told George Stephanopoulos on Sunday’s This Week that he would raise taxes on all Americans to pay for the social programs he hope to implement if elected president.
“If we’re going to make public colleges and universities tuition-free as we have to do in the 21st century. yeah we are going to have a tax on Wall Street speculation and ask Trump and his billionaire friends to pay more taxes,” Sanders said.
Trump has already agreed in his published economic policy: Click here for full details.
“When the income tax was first introduced, just one percent of Americans had to pay it. It was never intended as a tax most Americans would pay. The Trump plan eliminates the income tax for over 73 million households. 42 million households that currently file complex forms to determine they don’t owe any income taxes will now file a one page form saving them time, stress, uncertainty and an average of $110 in preparation costs. Over 31 million households get the same simplification and keep on average nearly $1,000 of their hard-earned money.”
For those Americans who will still pay the income tax, the tax rates will go from the current seven brackets to four simpler, fairer brackets that eliminate the marriage penalty and the AMT while providing the lowest tax rate since before World War II:
Income Tax Rate Single Filers Married Filers
0% 0% $0 to $25,000 $0 to $50,000
10% 0% $25,001 to $50,000 $50,001 to $100,000
20% 15% $50,001 to $150,000 $100,001 to $300,000
25% 20% $150,001 and up $300,001 and up
Anyway, back to Bernie…
Billionaires are not the only ones. Sanders wants to increase the tax burden on, he also suggested that in order to pay for paid family and medical leave, all Americans would have to pay more to the government in the form of an increased payroll tax.
“I think if you are looking about guaranteeing paid family and medical leave which every other major country has so that when a mom gives birth she doesn’t have to go back to work in two weeks or an illness in a family, dad or mom can stay home with the kids. That will require a small increase in the payroll tax,” Sanders said.
“Small increase!” Where have we heard that before?
Stephanopoulos got Sanders to admit that an increased payroll tax “would hit everybody.”
Continuing a major theme from his debate performance on Tuesday, Sanders pointed to other countries as a model for the economic terrorism he would like to bring to America.
On the flipside, this interview from this morning explains more on Trumps economic plan and other issues: