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Details on Bernie's wealth tax.

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The proposal would cut the wealth of billionaires in the United States in half in 15 years, and entirely close the gap in wealth growth between billionaires and the average American family, according to University of California Berkeley economists Gabriel Zucman and Emmanuel Saez, who advised Sanders on his plan. Hitting the richest 180,000 American households, Saez and Zucman estimate the tax would raise $4.35 trillion over the next decade, which Sanders says would go toward paying for his biggest policies, including Medicare-for-all, affordable housing, and universal child care.

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Here’s how it would work. Sanders wants to levy a 1 percent tax on wealth above $32 million, for married couples, and then slowly increase the tax for wealthier households: a 2 percent for wealth between $50 to $250 million; 3 percent for wealth from $250 to $500 million; 4 percent from $500 million to $1 billion, 5 percent from $1 to $2.5 billion, 6 percent from $2.5 to $5 billion, 7 percent from $5 to $10 billion, and 8 percent on wealth over $10 billion. Same thing goes for super rich single people, except the wealth thresholds are cut in half. In other words, an unmarried person with $16.5 million in wealth would pay a $5,000 tax, as would a married couple with $32.5 million in net worth.

Bernie is a compomise candidate. This is baby stuff.

It's the most ambitious of all, but it's still pretty lame.

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It looks like he toned down his 2014 wealth tax and reworked the framework to align with Warren’s percentage numbers, except more aggressive.  

In the same way Bernie has front ended Medicare for All and Liz piggybacks it, Bernie is back ending his wealth tax off of Liz’s work mainstreaming the idea on the campaign trail.

This was a smart move by Bernie. 

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Bernie's campaign is sending a lot of "oh god we need more donations before this FEC deadline!" like they did last time.

It would be very interesting if Warren got more individual donors than him this quarter. That, plus the fact that Warren is a more clear 2nd (to Bernie's 3rd) in national polling, would be a cause for worry in Bernieland.

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Does your $100M+ company have a massive gap between in CEO and worker compensation?

BERNIE HAS A PLAN FOR THAT

The income inequality tax, which comes less than a week after Sanders released a separate wealth tax plan, would penalize companies who have large disparities in compensation between their highest paid officials and median workers. The plan would raise an estimated $150 billion over the next decade, according to a Sanders campaign statement.

The tax kicks in at half a percentage point for companies who pay their chief executive -- or their highest paid employee, if it's not the CEO -- more than fifty times their median worker and caps off at 5 percentage points for companies who pay their top executive as much as five hundred times more than the median employee. This tax applies to all private and publicly held corporations with annual revenue of more than $100 million. The Securities and Exchange Commission requires companies to disclose its CEO to median work pay ratio.

n the release of the plan, Sanders outlined how much this tax would have forced large corporations to pay in taxes.

According to the campaign, if this tax were in effect last year, "McDonald's would have paid up to $110.9 million more in taxes, Walmart would have paid up to $793.8 million more in taxes, JPMorganChase would have paid up to $991.6 million more in taxes, Home Depot would have paid up to $538.2 million more in taxes, and American Airlines would have paid up to $18.8 million more in taxes."

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For like the last 3 pay periods I thought I'd gotten a micro raise that HR forgot to tell me about or something because I was netting like $300 more than usual. I compared pay stubs and come to find out, the government stopped taking social security out of my check. Upon further investigation (google, because I'm a finance dummy lol), it appears that once you pay in X amount to Social Security a year, you get to stop paying in. That is rad. Is Bernie cool with this? 

For the middle-class working stiffs like me this amounts to an extra night out at the local steakhouse chain after soccer practice and is a real win and good guy. Genuinely curious if Bern favors these max contributions and limits because for all the talk about being for the middle-class and the labor are we talking about the same thing? Or is this a more measured take that someone like Pete or Warren would have?

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Is there an attack somewhere I'm not seeing, or have we gotten to the point where we just invent them completely instead of point to randos on Twitter with 4 followers?

(And LOL if you don't think people on Twitter have called Bernie a hypocrite for having grassroots fundraisers while howling against rich-people fundraisers.)

[edit]

I can't check because I'm blocked by this guy I've never heard of lol

Edited by bad_teammate
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4 minutes ago, bad_teammate said:

Bernie is going to try to get the custodians to unionize and strike and they will kick him out of the hospital.

(And yes, I'm thinking a millenial body for Bernie's brain and not a fellow septuagenarian. Or a robot body like Nixon in Futurama.)

warning get out GIF

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On 10/1/2019 at 4:49 AM, Rougarou said:

For like the last 3 pay periods I thought I'd gotten a micro raise that HR forgot to tell me about or something because I was netting like $300 more than usual. I compared pay stubs and come to find out, the government stopped taking social security out of my check. Upon further investigation (google, because I'm a finance dummy lol), it appears that once you pay in X amount to Social Security a year, you get to stop paying in.

Nice humblebrag.  You hit $132.9K in late August.  Nice.

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Just now, bad_teammate said:

Bernie is alive! (or, at least his social media manager is!)

 

Never waste the chance to push your message Bernie!  Was thinking how shitty he must have felt in that room. He has a chance this time and his ticker fucked him in a way the DNC couldn't. 

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13 minutes ago, InkaUtexas said:

Never waste the chance to push your message Bernie!  Was thinking how shitty he must have felt in that room. He has a chance this time and his ticker fucked him in a way the DNC couldn't. 

weird you went that way with it. As I started to read it I thought you were going to say those docs must have been shitting their britches. imagine fucking up Bernie's surgery. Oy vey!

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1 minute ago, Longhorn_Fan68 said:

weird you went that way with it. As I started to read it I thought you were going to say those docs must have been shitting their britches. imagine fucking up Bernie's surgery. Oy vey!

Just think of the conspiracies if they did fuck up. 

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