Latest Breaking News
In reply to the discussion: Clinton Would Raise Taxes On The Wealthy. Here's What You Need To Know [View all]riversedge
(70,183 posts)Nope, no plan yet.. still waiting.
Wealthiest will pay more but not as much as under Eisenhower
Q: Let's get specific. How high would you go on tax rates? You have said before you would go above 50%.
SANDERS: We haven't come up with an exact number yet, but it will not be as high as the number under Dwight D. Eisenhower, which was 90%. I'm not that much of a socialist compared to Eisenhower. But we are going to end the absurdity, as Warren Buffet often reminds us, that billionaires pay an effective tax rate lower than nurses or truck drivers. That makes no sense at all. There has to be real tax reform, and the wealthiest and large corporations will pay when I'm president.
Gov. O'MALLEY: May I point out that under Ronald Reagan's first term, the highest marginal rate was 70%. And in talking to a lot of our neighbors who are in that super wealthy, millionaire and billionaire category, a great numbers of them love their country enough to do more again in order to create more opportunity for America's middle class.
Source: 2015 CBS Democratic primary debate in Iowa , Nov 14, 2015