Tax the rich: What Democrats' plans could mean for growth, spending and inequality




 

Senators Elizabeth Warren and Bernie Sanders, and freshman Representative Alexandria Ocasio-Cortez, have all proposed major tax increases on wealthy Americans. History shows that the United States has not only survived, but thrived when the rich had higher marginal tax rates. But how much would increasing rates actually raise, and what could it do to the economy? The real reason to tax might be to decrease inequality itself.

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Bernie Sanders announces plan to double union membership if elected
Bernie Sanders announces plan to double union membership if elected

Workplace Democracy Act expansion would restore rights to collectively bargain for better wages, benefits and conditions Bernie Sanders speaks at a campaign event in West Branch, Iowa, on 19 August. Photograph: Alexander Drago/ReutersBernie Sanders has released plans to double union membership in the US during his first term in office as he campaigns to secure the Democratic presidential candidacy.Sanders' plan is an expansion of the Workplace Democracy Act, previously championed by the Vermont senator, and would also restore workers' rights to collectively bargain for better wages, benefits and working conditions.Between 1983 and 2015, union membership declined by 2.9 million workers,...

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