Bernie Sanders Calls for Confiscation of Wealth Above $999 Million
Senator Bernie Sanders (I-Vt.) called for the U.S. government to confiscate assets over $999 million, and also announced his support for President Joe Biden.
The senator spoke with CNN anchor Chris Wallace last week for an interview when he declared that billionaires should not exist.
Sanders said he believes that the government should seize personal assets over his suggested limit before any American could become a billionaire.
He appeared on Wallace’s show to talk about his new book, “It’s OK to Be Angry About Capitalism.”
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A former Democratic party presidential candidate, in 2016 and 2020, the senator amassed huge support in the primaries and raised large amounts of money, but failed to secure the nomination each time.
The CNN host questioned Sanders about a statement in his book that called for the government to prevent the creation of new billionaires.
“So are you basically saying that once you get to $999 million, that the government should confiscate all the rest?” Wallace asked.
“Yeah, I think people can make it on $999 million,” Bernie responded.
“Which would mean that all these billion dollars, basically, it all goes to the government,” said Wallace.
Sanders recently got into an exchange during a contentious Senate hearing over Starbuck’s labor practices, with a not too subtle remark on the billionaire status of the company’s former CEO, Howard Schultz.
“The fundamental issue we are facing today is whether we have a system of justice that applies to all—or whether billionaires and large corporations can break the law with impunity,” said Sanders.
“Your [billionaire] moniker constantly is unfair,” responded Schultz, adding, “Yes, I have billions of dollars. I earned it. No one gave it to me. And I’ve shared it constantly with the people of Starbucks.”
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Bernie, who is himself worth $3 million, according to GoBankingRates, previously criticized both millionaires and billionaires, but now only opposes those worth over a billion dollars.
“In your book you say flatly, billionaires should not exist,” said Wallace, who defended billionaires like Sam Walton and Elon Musk for building businesses that employ hundreds of thousands of workers.
“That’s right,” Sanders responded, adding, “you can have a vibrant economy without three people owning more wealth than the bottom half of American society.”
“Do I think people who work hard, create new businesses should become rich? I do. Do I think they should have $50 billion or $100 billion when you have got half a million people who are homeless in America today, when you have 85 million people who can’t affor
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