In a tweet touting his newly unveiled plan to tax the ultra-wealthy, the Sen. Bernie Sanders wrote this: 'There should be no billionaires. We are going to tax their extreme wealth and invest in working people.' | Analysis by Chris Cillizza
Unless you've lived on another planet for the last five years, you know that Bernie Sanders isn't a big fan of the uber-wealthy. He's been railing against the detrimental effects of millionaires and billionaires on the nation's economy for years.
But on Tuesday afternoon, Sanders took it even a step farther. In a tweet touting his newly unveiled plan to tax the ultra-wealthy, the Vermont senator wrote this:"There should be no billionaires. We are going to tax their extreme wealth and invest in working people." .
In each episode of his weekly YouTube show, Chris Cillizza will delve a little deeper into the surreal world of politics. Click to subscribe! No billionaires! As in, Sanders is going to tax them out of existence?That's not, at least according to my reading of the plan, what Sanders is actually proposing. Here's the basics of his ultra-wealth tax, according to his website:"It would start with a 1 percent tax on net worth above $32 million for a married couple. That means a married couple with $32.5 million would pay a wealth tax of just $5,000.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bernie Sanders rolls out wealth tax plan that would help fund 'Medicare for All'Sen. Bernie Sanders on Tuesday unveiled plans for a hefty tax on the ultra-rich that he says will pay for several of his expensive social spending proposals, including part of 'Medicare for All.'
Read more »
Bernie Sanders tries to outdo Elizabeth Warren with tougher wealth tax proposalSen. Bernie Sanders unveiled a tax on wealth Tuesday as he aims to cut income inequality and fund his sprawling social programs.
Read more »
Bernie Sanders unveils 'Tax on Extreme Wealth' planPresidential candidate Bernie Sanders has been a loud critic of the ultra wealthy. Under his newest plan, he is ensuring those in the highest income bracket pay what he sees as their fair share in taxes.
Read more »
Jeff Bezos would pay $9 billion a year in wealth taxes under Bernie Sanders' planIn an effort to outflank the rise of Sen. Elizabeth Warren, Sen. Bernie Sanders announced a wealth tax that would hit multibillionaires like Bezos especially hard.
Read more »
Bernie Sanders proposes a wealth tax, setting up a clash with Elizabeth WarrenDemocratic candidate Bernie Sanders unveils a plan to tax the nation's top earners and says it will generate more than $4 trillion in the next decade.
Read more »