Democratic presidential hopeful Bernie Sanders would raise income taxes across the board — and by substantially more on high earners — to pay for an ambitious single-payer health-care plan, under details released Sunday night.
The senator from Vermont said the $1.38-trillion-a-year plan, which was outlined before a Democratic debate here, would ultimately save most families thousands of dollars a year on out-of-pocket health-care costs.
Sanders would pay for it largely through higher income taxes. Those making more than $250,000 a year would pay a marginal tax rate of 37 percent, up a few percentage points from what they now pay.
Sanders would add three more tax brackets, with marginal rates topping out at 52 percent for those making $10 million a year — significantly more than the current top rate of 39.6 percent.
– The Washington Post