Tom Steyer on Tax Reform Democratic Presidential Challenger; CEO

Take on corporations that are not paying their fair share

Unbearable inequality in most unfair tax regime I've seen

Cut taxes for 95% of Americans by 10%

Elizabeth Warren: Oh, they're just wrong. Let's start with a wealth tax: a two cent tax on the great fortunes in this country, on $50 million dollars and above.

Tom Steyer: I agree with Senator Warren in much of what she says. I've been for a wealth tax for over a year. I'm in favor of undoing all the tax breaks for rich people and big corporations that this administration has put through. And in addition, I've talked about equilibrating the taxes on passive investment income, which would allow us to cut taxes for 95% of Americans by 10%.

Supports higher estate tax, annual wealth tax

Repeal Trump tax cuts; close corporate tax loopholes

Boost taxes 1% on wealthiest 0.1% of Americans

EIGHT CANDIDATES HAVE SIMILAR VIEWS: Peter Buttigieg; John Delaney; Seth Moulton; Beto O`Rourke; Bernard Sanders; Joseph Sestak; Elizabeth Warren; Marianne Williamson.

Tom Steyer has proposed a 1 percent tax on the wealthiest 0.1 percent of Americans. Former Rep. Joe Sestak advocates raising the estate tax rate to 45 percent and lowering the exemption to $3.5 million for the 400 wealthiest families in the country.

Upper income people have done disproportionally well

Upper-income people have done "disproportionately well"

Oppose legislative supermajority for raising fees & levies

Report on Steyer's stance and spending on ballot initiatives:
• California Proposition 26, Supermajority Vote to Pass New Taxes and Fees (2010)
• Steyer Opposed; Steyer spent $1 million; outcome: Approved
• California Proposition 26, or the Supermajority Vote to Pass New Taxes and Fees Act, was on the November 2, 2010 ballot in California as an initiated constitutional amendment, where it was approved.
• Proposition 26 requires a two-thirds supermajority vote in the California State Legislature to pass any fees, levies, charges and tax revenue allocations that under the state's previous rules could be enacted by a simple majority vote.
• Supporters of Proposition 26 called it the Stop Hidden Taxes initiative, saying that fees, levies, and so on imposed by the California government amount to taxes, and should therefore require the same supermajority vote required to enact income or sales tax increases.

Tax surcharge on personal incomes over $250,000

Report on Steyer's stance and spending on ballot initiatives:
• California Proposition 55, Extension of the Proposition 30 Income Tax Increase (2016)
• Steyer Supported; Steyer spent $1.75 million; outcome: Approved
• Proposition 55 was on the November 8, 2016, ballot in California as an initiated constitutional amendment. It was approved.
• A "yes" vote supported extending the personal income tax increases on incomes over $250,000 approved in 2012 for 12 years in order to fund education and healthcare.
• A "no" vote opposed extending the personal income tax increases on incomes over $250,000 approved in 2012 for 12 years, allowing the tax increase to expire in 2019.
• The measure was designed to allocate about 89 percent of revenue from the tax increase to K-12 schools and 11 percent to state community colleges. It was also designed to allocate an additional $2 billion in certain years to Medi-Cal and other health programs.

Tax reform bill keeps the rich happy but hurts middle class

"They won't tell you that their so-called tax reform plan is really for the wealthy and big corporations while hurting the middle class. It blows up the deficit," he says.

Implement 1 percent annual wealth tax on America's richest

OpEd: Steyer's tax proposal would hit poor hardest