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Two sides to every story - 0 views

Hello, I have started a new project designed to engage critical thinking and to be the antidote to one sided media, whichever side you are on. The project is called Counterpointing, and consists o...

politics bipartisan election Trump Clinton GOP critical thinking news

started by counterpointing on 28 Jan 16 no follow-up yet

Bernie Sanders Flirted With 100% Marginal Tax on the Rich, Maximum Wage - Bloomberg Pol... - 0 views

www.bloomberg.com/...l-tax-on-the-rich-maximum-wage

shared by Bakari Chavanu on 30 Nov 15 - No Cached

“No. That's not 90 percent of your income, you know? That's the marginal.”
- Bakari Chavanu on 30 Nov 15
  
  Marginal tax is simply the amount of tax paid on an additional dollar of income. As income rises, so does the tax rate. This is different than a flat tax rate where you pay the same rate of tax no matter what your income level is.
  
  <div class="cArrow"> </div><div class="cContentInner">Marginal tax is simply the amount of tax paid on an additional dollar of income. As income rises, so does the tax rate. This is different than a flat tax rate where you pay the same rate of tax no matter what your income level is.</div>
  
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Sanders is described as wanting to “make it illegal to amass more wealth than a human family could use in a lifetime.” He would do that, the article said, with “a 100 percent tax on incomes above this level ($ one million per year)” and “would recycle this money for the public need.”
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he still had the issue on his mind while serving in the House in 1992, entering into the Congressional Record a Los Angeles Times op-ed written by Sam Pizzigati, the author of The Maximum Wage. In that piece, Pizzigati details President Franklin Delano Roosevelt’s proposal for a “100% war supertax,”
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Pizzigati noted that there’s been momentum in recent years to cap executive salaries and bonuses but that “Sanders saw the importance of thinking about that much earlier than everybody else.”
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Benjamin Spock, who advocated capping incomes and inheritances. Spock believed that “not only should every family of four receive a minimum income of $6,500 annually but the wealthy should be entitled to a maximum income of $50,000 and a minimum annual inheritance of $55,000,” according to a Burlington Free Press article from September of that year.
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