Tuesday, February 25, 2020
Friday, February 7, 2020
Here's some of the democratic candidates 2020 plans on taxes/economy
TAXES
Biden
-Increase federal minimum wage to $15 an hour
https://joebiden.com/joes-vision/
Sanders
-Annual tax on top 0.1% of US households (those whose net worth is over $32 million);
-it'll raise an estimated $4.35 trillion in revenue over the next decade and cut the wealth of billionaires in half over 15 years
-1% tax on net worth above $32 million
-2% tax on net worth from $50 million to $250 million
-3% tax on net worth from $250 million to $500 million
-4% tax on net worth from $500 million to $1 billion
-5% tax on net worth from $1 billion to $2.5 billion
-6% tax on net worth from $2.5 billion to $5 billion
-7% tax on net worth from $5 billion to $10 billion
-8% tax on net worth over $10 billion
https://berniesanders.com/issues/tax-extreme-wealth/ Warren
-Tax on excessive lobbying that applies to every corporation and trade organization that spends over $500,000 per year lobbying the government
-Companies that spend between $500,000 and $1 million per year on lobbying, calculated on a quarterly basis, will pay a 35% tax on those expenditures. For every dollar above $1 million spent on lobbying, the rate will increase to 60% – and for every dollar above $5 million, it'll increase to 75%.
-Corporate profits tax on companies that report over $100 million in profits (1200 most profitable firms)
-The first $100 million if left alone, but every dollar above that is taxed at 7%
https://elizabethwarren.com/plans/excessive-lobbying-tax
https://elizabethwarren.com/plans/real-corporate-profits
Buttigieg
-Increase federal minimum wage to $15 an hour and index it to wage growth
-End right to work laws
https://peteforamerica.com/policies/empower-workers/
Bloomberg
-Increase federal minimum wage to $15 an hour, indexed to inflation
-Increase federal tax on cigarettes, cigars, e-cigarettes and pipe tobacco by $1
-Double federal spending on homelessness from under $3 billion to $6 billion annually
-Restore the top rate on ordinary income from 37% to 39.6%
-5% surtax on incomes above $5 million a year (effects less than 0.1% of taxpayers)
-Close the "pass-through" 20% deduction that lets many rich taxpayers pay less
-End the carried-interest loophole
-Raise the corporate tax rate from 21% to 28%
https://www.mikebloomberg.com/policies/all-in-economy
https://www.mikebloomberg.com/policies/e-cigarettes-and-vaping
https://www.mikebloomberg.com/policies/housing-affordability-and-homelessness#half
https://www.mikebloomberg.com/policies/tax-policy
Steyer
-Increase federal minimum wage to $15 an hour
-1% on those whose net worth is above $32 million
-Establish a national referendum process and Congressional term limits
https://www.tomsteyer.com/economic-agenda/
Yang
-Freedom Dividend, a universal basic income of $1,000/month, $12,000 a year, for every American adult over the age of 18. This is independent of one’s work status or any other factor, would grow economy by 12.56-13.1%($2.5 trillion) by 2025, would increase labor force by 4.5-4.7 million people
-50% tax on all online poker and use revenue to fund research towards prevention, awareness campaigns, and treatment programs
-0.1% financial transaction tax that would raise as much as $50 billion per year that'll be used to help fund Universal Basic Income
-Implement value added tax of 10%
-Mandatory family and maternity leave for full-time employees
-Tax on profits from self driving trucks to provide severance packages for drivers whose jobs are replaced ($168 billion)
https://www.yang2020.com/policies/the-freedom-dividend/
https://www.yang2020.com/policies/regulate-online-poker/
https://www.yang2020.com/policies/financial-transaction-tax/
https://www.yang2020.com/policies/value-added-tax/
https://www.yang2020.com/policies/single-parent-assistance/
https://www.yang2020.com/policies/trucking-czar/
Bennet
-Raise minimum wage $15 an hour, with exemption for rural or low cost communities that would potentially harm emplyment/small businesses
-Raise corporate tax rate from 21% to 28%
-Restore the top rate on ordinary income from 37% to 39.6%
-Adding another tax bracket of 44% for very high income taxpayers
https://michaelbennet.com/realdeal/
Patrick
-Return federal estate tax to 55%
https://devalpatrick2020.com/an-economy-for-everyone-everywhere/
Biden
-Increase federal minimum wage to $15 an hour
https://joebiden.com/joes-vision/
Sanders
-Annual tax on top 0.1% of US households (those whose net worth is over $32 million);
-it'll raise an estimated $4.35 trillion in revenue over the next decade and cut the wealth of billionaires in half over 15 years
-1% tax on net worth above $32 million
-2% tax on net worth from $50 million to $250 million
-3% tax on net worth from $250 million to $500 million
-4% tax on net worth from $500 million to $1 billion
-5% tax on net worth from $1 billion to $2.5 billion
-6% tax on net worth from $2.5 billion to $5 billion
-7% tax on net worth from $5 billion to $10 billion
-8% tax on net worth over $10 billion
https://berniesanders.com/issues/tax-extreme-wealth/ Warren
-Tax on excessive lobbying that applies to every corporation and trade organization that spends over $500,000 per year lobbying the government
-Companies that spend between $500,000 and $1 million per year on lobbying, calculated on a quarterly basis, will pay a 35% tax on those expenditures. For every dollar above $1 million spent on lobbying, the rate will increase to 60% – and for every dollar above $5 million, it'll increase to 75%.
-Corporate profits tax on companies that report over $100 million in profits (1200 most profitable firms)
-The first $100 million if left alone, but every dollar above that is taxed at 7%
https://elizabethwarren.com/plans/excessive-lobbying-tax
https://elizabethwarren.com/plans/real-corporate-profits
Buttigieg
-Increase federal minimum wage to $15 an hour and index it to wage growth
-End right to work laws
https://peteforamerica.com/policies/empower-workers/
Bloomberg
-Increase federal minimum wage to $15 an hour, indexed to inflation
-Increase federal tax on cigarettes, cigars, e-cigarettes and pipe tobacco by $1
-Double federal spending on homelessness from under $3 billion to $6 billion annually
-Restore the top rate on ordinary income from 37% to 39.6%
-5% surtax on incomes above $5 million a year (effects less than 0.1% of taxpayers)
-Close the "pass-through" 20% deduction that lets many rich taxpayers pay less
-End the carried-interest loophole
-Raise the corporate tax rate from 21% to 28%
https://www.mikebloomberg.com/policies/all-in-economy
https://www.mikebloomberg.com/policies/e-cigarettes-and-vaping
https://www.mikebloomberg.com/policies/housing-affordability-and-homelessness#half
https://www.mikebloomberg.com/policies/tax-policy
Steyer
-Increase federal minimum wage to $15 an hour
-1% on those whose net worth is above $32 million
-Establish a national referendum process and Congressional term limits
https://www.tomsteyer.com/economic-agenda/
Yang
-Freedom Dividend, a universal basic income of $1,000/month, $12,000 a year, for every American adult over the age of 18. This is independent of one’s work status or any other factor, would grow economy by 12.56-13.1%($2.5 trillion) by 2025, would increase labor force by 4.5-4.7 million people
-50% tax on all online poker and use revenue to fund research towards prevention, awareness campaigns, and treatment programs
-0.1% financial transaction tax that would raise as much as $50 billion per year that'll be used to help fund Universal Basic Income
-Implement value added tax of 10%
-Mandatory family and maternity leave for full-time employees
-Tax on profits from self driving trucks to provide severance packages for drivers whose jobs are replaced ($168 billion)
https://www.yang2020.com/policies/the-freedom-dividend/
https://www.yang2020.com/policies/regulate-online-poker/
https://www.yang2020.com/policies/financial-transaction-tax/
https://www.yang2020.com/policies/value-added-tax/
https://www.yang2020.com/policies/single-parent-assistance/
https://www.yang2020.com/policies/trucking-czar/
Bennet
-Raise minimum wage $15 an hour, with exemption for rural or low cost communities that would potentially harm emplyment/small businesses
-Raise corporate tax rate from 21% to 28%
-Restore the top rate on ordinary income from 37% to 39.6%
-Adding another tax bracket of 44% for very high income taxpayers
https://michaelbennet.com/realdeal/
Patrick
-Return federal estate tax to 55%
https://devalpatrick2020.com/an-economy-for-everyone-everywhere/
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