With Democrats in control of the Senate, Bernie Sanders has assumed the gavel as head of the powerful Senate Budget Committee, and he’s beginning to flex his muscle. Specifically, Sanders has unveiled two separate bills looking to raise taxes on the super-rich, one that returns corporate tax rates to 35 percent from the 21 percent level where the Trump tax cuts reset them and another that substantially raises tax rates on estates worth multiple millions of dollars and raises them even higher for estates worth more than $1 billion. Joe Biden has supported raising corporate taxes as well, but only to 28%, essentially splitting the difference between pre and post-Trump levels.
In this clip Ana and Cenk discuss Bernie’s various bills, and the likelihood that the Vermont Senator will have any success in seeing them pass into law. Ana suggests that Sanders’ past success in persuading Joe Biden to move left may bode well for getting the President on board with these bills while Cenk is, let’s say, less optimistic. Cenk says he loves the framing and titling of the bills, which focus on getting the super-rich to pay their fair share, but adds that we’ll be lucky to even get the 28 percent top marginal rate that Biden supports. That’s mainly because of opposition by the corporatists in both parties, he says, who exist to serve their donors, and as a result will fight tooth and nail to pursue the interests of the uber-rich and mega-corporations.
The only way these bills pass as is, Cenk adds, is if Bernie puts on a full-court press and goes to places like West Virginia to drum up support among the public, which would put pressure on so-called “centrists” like Joe Manchin. But Bernie likely won’t do that, Cenk says, because while he’s a stalwart defender of everyday Americans, and believes deeply in his policy proposals, he also is reluctant to put his fellow Senators on the spot, and so the disappointing outcome is likely a foregone conclusion.