I'm Darrin Mish. For 32 years I've practiced federal tax litigation — routine audits, Tax Court cases, and everything in between. If you're facing an IRS issue, here's what you need to know first.
2016 presidential candidate Bernie Sanders is planning to increase taxes for America’s wealthiest citizens. Speaking with Al Hunt, host of Charlie Rose, Mr. Sanders described a tax package that he and his team have been formulating that hinges on raising taxes for the most affluent of American taxpayers. Click here to watch or read more information on IRS Back Taxes.
Sanders was quoted as saying “We’re working right now on a comprehensive tax package, which I suspect will, for the top marginal rates, go over 50 percent.”
An intended rate of 50% for the highest earners in the nation would be the first time since 1982 that taxes were so high for the top tax brackets. Mr. Sanders claims that the taxation increase to 50% for the highest income bracket will coincide with the closing of loop holes that allow individuals and corporations to keep money overseas.
The overall goal of Mr. Sanders’ plan is to revitalize middle class families. “…Yeah, it’s time to redistribute money back to the working families of this country from the top 1/10th of one percent, and tax policy is one of the ways we do that,” he said.
While his comments on Charlie Rose were specifically about tax increases for individuals, he has made recent mention of targeting corporate taxes as well.
Bernie Sanders is currently serving as an independent senator from Vermont, and is seeking the Democratic nomination in the 2016 presidential election. His recent conversation regarding economic redistribution is very similar to what he has stood for since being elected mayor of Burlington, Vermont, in 1981.
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