Bennet has introduced his economic plan which he calls his “Real Deal” as a contrast to what he clearly sees as the pie-in-the-sky type of plans from those candidates to his left, and a way to avoid a quagmire over Medicare for All.
The plan includes a more sweeping Child Tax Credit, and an expanded Earned Income Tax Credit that offers more assistance to workers without children at home. Also in the plan: a higher minimum wage, universal preschool and a paid family leave initiative. And how to pay for those priorities? Bennet gets more than a third of his tax offsets (some $2.2 trillion) from what he terms a “smart wealth tax” — a mark-to-market system that would tax wealthy investors every year on unrealized gains — and ending the “step up in basis” that allows heirs to pay lower taxes on inherited assets. Other ideas: Bringing tax rates to the levels either proposed or enacted under former President Barack Obama — like a 28 percent corporate tax rate (which was lowered to 21 percent under the GOP tax law) and bringing back a 39.6 percent rate for high-earning individuals. Bennet also proposes a new top individual rate of 44 percent, and reinstating the estate tax parameters back to their more stringent parameters from earlier this century.
The former South Bend, Ind., mayor and 2020 candidate came out with a $1 trillion infrastructure plan and it would all be paid for by rolling back the Trump administration tax cut.
And two we can say goodbye to…
Former Obama housing secretary Julian Castro drops out of 2020 presidential race Julian Castro, a former Obama housing secretary and San Antonio mayor, has dropped out of the race for the Democratic presidential nomination.
Marianne Williamson announced the suspension of her presidential campaign in a letter to supporters today. The self-help author and spiritual guru who became a viral sensation in the first Democratic primary debates before fizzling out, announced on Friday that she is ending her bid for president.
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