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In reply to the discussion: Sanders Endorses Small Tax Hike On All To Fund Family Leave [View all]BainsBane
(54,162 posts)Payroll taxes are regressive and disproportionately burden those with the lowest incomes.
I understand Americans pay low federal income taxes, both in comparison to other countries and our own historic rates. What we need, however, is a progressive system of taxation, not more flat taxes.
His transaction tax applies also to retirement funds, and those non-profit investors like TIAA-Cref and funds for state and municipal employees will be taxed to pay for college (yet the numbers aren't close to meeting the costs of running our current post-secondary educational systems). However, he has no plan that I've seen (and I've looked on his website) to prepare the poor to be able to get into college. Therefore those most benefited are those who don't currently receive financial aid, the upper middle class.
So he has proposed two new taxes, both of which benefit the upper middle class. I suppose it makes sense given that is his support base, but it flies in the face of the notion that he is a champion for the rest of us.