Sunday, January 17, 2016

Are Artists for Bernie Ready For Comrade Sanders' Higher Marginal Tax Rates?

Are Artists for Bernie ready for Comrade Sanders' higher marginal tax rates Comrade Sanders is proposing?
Under the Sanders proposal, health care would be paid for by a 2.2 percentage-point increase in the individual income tax, a new 6.2 percent health care payroll tax on employers, higher estate taxes on wealthy Americans and a “more progressive” tax code, including higher tax brackets for the wealthy.

While the current highest tax bracket is 39.6 percent for Americans making $415,051 and more, the proposal calls for a 43 percent tax rate on income between $500,000 and $2 million; a 48 percent rate on income between $2 million and $10 million; and a 52 percent rate on income above $10 million. The Sanders campaign estimates his health plan would cost $1.38 trillion a year.
Why not repeal the Hollywood tax cuts since so many artists want higher taxes?