This estate tax reform is important for several reasons. It institutes a graduated rate structure, so that the wealthiest billionaires pay at a higher rate. Under current law, a rich person with $25 million will pay the same estate tax rate as an oligarch with $25 billion. Sanders proposes a 65 percent top tax rate on estates over $1 billion, a restoration of the highest rate that existed between 1942 and 1976.
This will greatly slow the build-up of inherited wealth dynasties, especially if combined with an annual wealth tax, along the lines introduced by Senator Elizabeth Warren and Rep. Pramila Jayapal."
-->The NYT, owned by the very rich and run by wealthy elite corporate board members, is distinctly disinterested in taxing the wealthy. It didn't cover this story, although if the legislation gathers momentum, the NYT will have to.
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Common Dreams:
"Nearly 3 out of 4 voters in New York would prefer taxes on the rich and corporations over new budget austerity that would see vital public services and programs slashed, according to a poll released Friday.
The survey, conducted by Data for Progress, a left-leaning polling and analysis group, found that while the recently passed 'American Rescue Plan'—which provided far-reaching and direct federal assistance and aid to individuals, local communities, and social programs—is one of the most popular pieces of legislation among the U.S. public in 'modern memory,' New Yorkers on a state level 'recognize that in this time of need, the wealthy should pay more in taxes and the state should support those who need help the most.'
Overall, the poll showed that 73% percent of New Yorkers would like to patch the state's projected revenue shortfall in the state by taxing the rich—not further austerity measures like cutting public services, especially during the ongoing pandemic. Along ideological lines, the poll showed that 66% of Republicans, 64% of Independents, and 81% of Democrats 'favor a wealth tax over cuts to health care, education, and other public services.' "
https://www.commondreams.org/news/2021/03/26/nearly-3-4-new-yorkers-favor-taxing-rich-austerity-poll
-->One would expect the NYT to cover this story, especially since if involves NY state. But the NYT, including much of the major media, is reluctant to spread the word about how popular taxing the very rich actually is with the general public. US media is owned by the rich, who hide the fact that no progressive legislation gets past in the Oligarchy.
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Common Dreams:
"A coalition of more than 25 groups representing a range of political perspectives sent a letter Wednesday to key congressional committees with specific suggestions for slashing the Pentagon's budget by roughly $80 billion—savings that progressives say could be redirected from war to address pressing human needs.
'Well-researched analysis from experts across the ideological spectrum show[s] that the Pentagon can dramatically reduce its spending, meet today's national security challenges, and continue supporting our troops and their families,' the letter (pdf) reads. 'As a coalition of organizations representing diverse political views, we share a common goal of reducing wasteful spending at the Pentagon.'
The letter identifies several ways that military spending could be slashed. Specific opportunities mentioned include eliminating the Space Force created under former President Donald Trump; reducing—rather than expanding—the nation's nuclear arsenal; and canceling the purchase of additional F-35 fighter jets, a weapons program the coalition called 'the most expensive in the Pentagon's history while also having over 850 design flaws that haven't been resolved.' "
-->The NYT didn't think this story worth printing, although it has called the F-35 jet a "boondoggle ... we are stuck with" in the past.
