U.S. presidential contender Bernie Sanders released a plan on Tuesday to tax fortunes worth more than $32 million, in a move that follows his Democratic rival Elizabeth Warren’s own wealth-tax proposal. Sanders, a U.S. senator from Vermont, said his “extreme wealth tax” would address historically high levels of inequality and fund his healthcare plan, known as Medicare for All, as well as plans for affordable housing and universal childcare. Sanders, one of 19 Democratic candidates hoping to challenge Republican President Donald Trump in the November 2020 election, is calling for a dramatic economic restructuring that would limit corporate influence and level the economic playing field.
