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Brian Bengs on Tax Reform

 

 


Supports a wealth tax for households over $50 million

I am focused on helping regular South Dakotans so I support a wealth (yacht) tax. A wealth tax is imposed annually on the net wealth held by a person. A federal wealth tax of 2% would apply to households worth $50 million to $1 billion. The wealthiest 75,000 households in America would pay $0.02 for every dollar above $50 million. Households worth more than $1 billion would be subject to a 3% wealth tax.
Source: 2022 South Dakota Senate campaign website BengsForSenate.com , Mar 15, 2022

I'm talking about blowing up the status quo of tax policy

His plan would exempt people from federal income tax if they make up to four times the median income. In South Dakota, that's $124,000. Families with an income of $248,000 and businesses making $100 million or less would also be exempt. "I'm talking about blowing up the status quo of tax policy in the United States," he said. The goal, he said, is to shift the tax burden to the states, which then create their own systems.
Source: Aberdeen News on 2022 South Dakota Senate race , Nov 12, 2021

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