The 2020 Democratic primary field is getting crowded, and contenders are busy trying to outbid each other with new anti-wealth policies. In the wake of Rep. Alexandria Ocasio-Cortez’s (D-N.Y.) proposal to raise the top marginal tax rate to 70 percent, Sen. Elizabeth Warren (D-Mass.) came out with a wealth tax that would confiscate two percent of one’s assets every year. Not willing to cede the mantle of most anti-wealth Democrat so easily, Vermont Sen. Bernie Sanders followed these proposals up with one of his own — an estate tax with a top rate of 77 percent.
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