Yahoo Finance | November, 2019

Estate Taxes Could Hit the Not-So-Wealthy

Democratic presidential candidates Elizabeth Warren and Bernie Sanders have unveiled ambitious plans to fund universal health care and other programs by hiking taxes on the wealthiest Americans. But lurking beneath proposed tax hikes on the super rich are measures that could affect a broader swath of taxpayers.

Both Warren and Sanders want to lower the amount of assets exempt from federal estate taxes--$11.58 million per person in 2020--to $3.5 million. Sanders has also proposed increasing the estate tax rate, which now tops out at 40%, to 45% to 77%, depending on the size of the estate.