Sanders, tax proposal to wealthy people with more than $ 32 million in assets

[Reuters, Washington, 24]-Senator Bernie Sanders, who is aiming to be a Democratic candidate for the US presidential election in 2020, announced on 24th that he would tax the “super-rich” who had more than $ 32 million in net assets.

The plan will deal with the problem of disparity between the rich and the poor, as well as the national universal insurance plan and the housing supply plan for low-income families.

Mr. Sanders said in a statement, “A lot more. We have confronted the super wealthy and have rectified the wealth inequality in the United States and prevented democracy from falling into a corrupt dictatorship by a minority.”

Senator Elizabeth Warren, who is also nominated for a Democratic Party candidate, has also proposed a unique plan to tax wealthy people with net assets of over $ 50 million.

Both are led by former vice president Joe Biden in a poll on the Democratic Party's candidate battle.

Mr. Sanders imposes a 1% tax rate on wealthy people with more than $ 32 million in net assets. The tax rate will be raised in stages, reaching 8% for net assets over $ 10 billion. It is said that 180,000 wealthy people will be targeted.

According to professors at the University of California, Berkeley on the proposal distributed by the Sanders faction, tax revenue from the proposal is estimated to be about $ 4.5 trillion over 10 years.

The taxation plan for the wealthy needs to be approved by the Parliament like many other proposals. If the Republican Party maintains a majority of the Senate in next year's election, it is almost certain that the plan will face opposition from the Republican Party.