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Bernie Sanders Says "Government Should Confiscate All Wealth Over $999 Million"
No billionaires at all!
Not American ones, at least.
Bernie Sanders’s choice of $999 million as the permissible level of wealth and no more brings to mind Barack Obama’s words: “I mean, I do think at a certain point you’ve made enough money.”
Of course, once such a wealth confiscation is announced, billionaires will depart for friendlier shores, there will be very little left to confiscate, and entrepreneurs will be creating jobs and wealth elsewhere.
That’s what happened when France tried a wealth tax, and that’s why it was repealed.
Watch as Bernie defines ”enough” to Chris Wallace of CNN:
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.WALLACE: “Sir, you’re saying that billionaires should not exist. So, are you basically saying that once you get to $999 million, that the government should confiscate all the rest?”
SANDERS: “I’m saying that we should go back to a very progressive tax policy like what we had under Dwight D. Eisenhower.”
WALLACE: “Which would mean that — that — over a billion, basically it all goes to the government?”
SANDERS: “You may disagree with me, but — fine, yeah, I think people can make it on $999 million.”
Sanders, alongside Sen. Elizabeth Warren (D-Mass.) and Rep. Jimmy Gomez (D-Calif.) had introduced new legislation in April, called the “For the 99.5 Percent Act,” which was announced on Sanders’ Senate website.