Bloomberg Proposes Tax Plan to Raise $5 Trillion for Policies

(Bloomberg) -- Michael Bloomberg said Saturday he would raise taxes on the wealthy, increase the corporate tax rate, and curb tax-free inheritances of large estates, elements of a tax plan that he says would raise $5 trillion over a decade.Tax rates on low-income and middle-class Americans set by the 2017 Republican tax law would remain the same.Bloomberg’s plan serves to show how he’d pay for an array of proposed new spending initiatives, which so far top $3 trillion. But his campai