-- Democratic presidential front-runners largely agree on their first tax priority: Scrap President Donald Trump’s tax overhaul and institute new levies to pay for social programs to benefit the middle class.
“Yes, they will pay more in taxes, but less in health care for what they get,’’ he said Thursday night in Miami during the second round of the first Democratic presidential debates. Former Vice President Joe Biden and Senator Kamala Harris of California both said during the debate they would make eliminating the Republican tax law a priority.
Story continuesWarren has promoted an annual 2% wealth tax on those with fortunes of at least $50 million, a levy she estimates would raise about $2.75 trillion. Sanders is proposing a tax on Wall Street trades that would include a 0.5% tax on stock transactions, a 0.1% tax on bond trades and a .005% tax on derivatives transactions to pay off student debt and finance tuition at public colleges and universities.