Billionaires Could Face Tax Rates Up to 97.5% Under Sanders

The video discusses proposed wealth tax plans by Bernie Sanders and Elizabeth Warren, focusing on their potential impact on America's wealthiest individuals. Sanders' plan targets wealth above $10 billion with an 8% annual tax, while Warren's plan is more moderate. The video also examines the effects of the 2017 tax law under President Trump, which lowered tax rates for billionaires. Criticisms of the wealth tax, including concerns about creativity and economic impact, are highlighted, along with the political and constitutional challenges these proposals face.

What is the main feature of Bernie Sanders' tax proposal for billionaires?

• A reduction in corporate tax rates

• A tax on all income above $1 million

• A tax on wealth above $10 billion

• A flat income tax rate for all

How does Elizabeth Warren's wealth tax proposal differ from Bernie Sanders'?

• It includes a flat tax rate for all

• It only taxes corporate income

• It is more moderate than Sanders'

• It is more aggressive than Sanders'

What was the effect of the 2017 tax law on the wealthiest Americans?

• Introduced a new wealth tax

• Had no effect on their tax rates

• Decreased their tax rates significantly

• Increased their tax rates significantly

Which candidate's tax plan aims to return to pre-2017 tax rates?

• Bernie Sanders

• Elizabeth Warren

• Joe Biden

• Donald Trump

What is a major concern critics have about the wealth tax?

• It will decrease government revenue

• It will stifle creativity and innovation

• It will only affect middle-class families

• It will increase economic inequality