Sen. Bernie Sanders called for a whopping 77% estate tax on billionaires across the country this week; saying America will never “thrive” when “so few have so much and so many have so little.”
“In America today, the top one-tenth of one percent owns almost as much wealth as the bottom 90 percent. The three wealthiest people in this country own more wealth than the bottom half of Americans — 160 million people,” said Sanders’ statement.
“The fairest way to reduce wealth inequality, invest in the disappearing middle class, and preserve our democracy is to enact a progressive estate tax on the inherited wealth of multi-millionaires and billionaires,” he added.
The proposal calls for a 55% estate tax on those worth more than $50 million and a 77% tax on those worth more than $1 billion.
Read Sanders’ full proposal here.
SOCIALISM USA! Bernie Calls for ‘Political Revolution’ Against ‘Fossil Fuel Billionaires’
Vermont Senator and potential 2020 candidate Bernie Sanders set his sights on “fossil fuel billionaires” Monday; saying the United States needs a “political revolution” to turn the country towards “clean energy.”
Sanders posted his incendiary comments on social media this week; slamming President Trump’s tax cuts as an outright “lie” to middle class Americans.
“During Trump’s campaign, he repeatedly promised the American people that ‘the rich would not gain at all’ from his tax plan. He said it would provide a ‘big-league tax cut for the middle class.’ He lied. It’s time for an economy that works for all of us, not just the rich,” Sanders tweeted.
During Trump's campaign, he repeatedly promised the American people that “the rich would not gain at all” from his tax plan. He said it would provide a “big-league tax cut for the middle class."
It’s time for an economy that works for all of us, not just the rich.
— Bernie Sanders (@BernieSanders) December 1, 2018
It’s time for a political revolution that takes on fossil fuel billionaires, accelerates our transition to clean energy, and finally puts people before the profits of polluters.
— Bernie Sanders (@BernieSanders) December 3, 2018
The self-described Democratic Socialist is widely believed to planning another run for the White House in the coming months; refusing to deny his political ambitions when asked in recent interviews.
SOCIALISM USA! Bernie Claims USA ‘Owned’ and ‘Controlled’ by a Handful of ‘Billionaires’
Vermont Senator and likely 2020 presidential candidate Bernie Sanders slammed the United States capitalist system this week; baselessly claiming the country was “owned” by a small group of “billionaires.”
Sanders was speaking with The Real News Network in recent days when he unloaded on the current economic system; saying “incredible greed” is having a “negative impact on the fabric of our entire country.”
"It is not just that the one tenth of 1% owns more wealth than the bottom 90%. They don’t put their wealth underneath their mattresses, right. They use that wealth to perpetrate, perpetuate their power. And they do that politically" – @BernieSanders https://t.co/mNMcmVeJeK
— The Real News (@TheRealNews) December 10, 2018
“We live in a nation owned and controlled by a small number of multi-billionaires whose greed, incredible greed, insatiable greed, is having an unbelievably negative impact on the fabric of our entire country,” said the self-described Democratic-Socialist.
“When we deal with climate change, when we deal with the economy, when we deal with housing, when we deal with criminal justice or immigration issues, we have got to deal with those in a holistic way, and understand why all of that is happening. Not see them as silo-ized separate issues,” Sanders added.
Read the full story at CNBC.