Why Won't Bernie Sanders and Elizabeth Warren Raise Their Own Taxes?
I asked this same question back in 2019.
"Nobody should earn more than a million dollars," Bernie Sanders declared in 1974.
During his original Senate run, the socialist candidate claimed that “concentrations of wealth” were the greatest threat to America and could be ended with a 100% tax on wealth over $1 million a year.
Bernie now has 3 homes and is worth millions. When asked about it, the socialist had a great capitalist comeback.
“I wrote a best-selling book,” he declared in a bootstrapping invocation of capitalism and the American Dream. “If you write a best-selling book, you can be a millionaire, too.”
His big push to tax the 1% became a push to tax the 0.8%.
But Bernie is making it clear that he’s no longer opposed to millionaires. After all he’s part of the 1%. His latest tax proposal is named the "For the 99.8 Percent Act". Forget the 99%. After making a few million, Bernie is shaving off .2% to make room for him and other struggling socialist millionaires fighting the influence of wealth and power by those who, as of right now, have more of it than he does.
“We are the 99.8%,” is the new fractional message of the fractional candidate.
The proposal starts with estates of $3.5 million. Bernie’s own fortune is estimated at $2.5 million.
The theme here is, “Tax everyone richer than me.”
Literally. As Bernie Sanders and Elizabeth Warren are rolling out a tax hike carefully calculated to leave them out.
A slew of Democrats on Capitol Hill — including progressives Sen. Elizabeth Warren, D-Mass., and Sen. Bernie Sanders, I-Vt. — on Monday proposed a 3% total annual tax on wealth exceeding $1 billion.
They also called for a lesser, 2% annual wealth tax on the net worth of households and trusts ranging from $50 million to $1 billion.
$50 million. That conveniently leaves out Warren whose net worth is a mere $12 million.
Would it be too much to ask these millionaire class warriors to raise their own damn taxes, instead of proposing tax hikes on people wealthier than they are? If Warren and Sanders hit the $50 million mark, we all know that their tax plan would somehow start at $75 or $100 million.