Bernie Sanders Proposes Estate Tax that Would allow Government Takeover of Businesses

Bernie Sanders is the first openly socialist member of the US Senate, although many of the Democrats and possibly some of the Republicans in the Senate are closet socialists.

As more Democrats begin to openly embrace and push socialistic policies, Sanders is becoming more socialistically aggressive in the legislation he proposes.

In one of his latest announcements, he wants to raise the estate taxes on estates worth over a billion dollars.

His proposal is more than dangerous, it would allow the federal government to take over a number of large companies.

Trending: The Myth of Three Co-Equal Branches of Government [VIDEO]

CNBC (yes, a liberal source) – Bernie Sanders proposes a big hike in the estate tax, including a 77% rate for over $1 billion –

KEY POINTS

  • Sen. Bernie Sanders plans to introduce an estate tax plan with rates up to 77 percent.
  • The “For the 99.8% Act,” as the bill is known, would tax the estates of those who inherit more than $3.5 million.
  • The proposal comes after Republican senators proposed eliminating the estate tax, and as the 2020 presidential campaign gets going.

Sen. Bernie Sanders, the left-wing populist who is exploring another run for the presidency, plans to introduce an expanded estate tax plan with rates up to 77 percent.

Sanders touted the plan on Twitter after The Washington Post first reported it Thursday morning.

Bernie Sanders

✔@SenSanders

The fairest way to reduce wealth inequality, invest in the disappearing middle class and preserve our democracy is to enact a progressive estate tax on the inherited wealth of multi-millionaires and billionaires.

Today I’m introducing a bill to do that:https://www.washingtonpost.com/us-policy/2019/01/31/bernie-sanders-propose-dramatic-expansion-estate-tax-richest-americans-including-percent-rate-billionaires/ …

One of the things that has made America great is the free enterprise system and the ability for someone to work hard and build an empire.

Those empires employee countless Americans, providing them with a way to put a roof over their heads and food on their tables.

But what happens to those empires when the owner dies and the government takes 77% of the company via estate taxes?

You end up with government owned businesses instead of private owned.

Most likely, that would put many Americans out of work or have their hours cut.

Folks – this is socialism in its purest form!

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