Sanders Renews Call For One-Time Tax On Billionaires

Sen. Bernie Sanders writes for The Guardian:

As a nation, the time is long overdue for us to finally address the grotesque level of income and wealth inequality that exists. In my view, we can no longer tolerate the three wealthiest people in America owning more wealth than the bottom 50%, the top 1% owning more wealth than the bottom 92% and 45% of all new income going to the 1%.

At a time of enormous economic pain and suffering, we have a choice to make. We can continue to allow the very rich to get much richer while most everyone else gets poorer. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and wellbeing of tens of millions of Americans.

The time has come for the Congress to act on behalf of the working class who are hurting like they have never hurt before, not the billionaire class who are doing phenomenally well and have never had it so good. Making billionaires pay to expand Medicare to all during a public health emergency is a good place to start.

BERNIE GOES FULL USSR: Sanders Sponsors Historic 60% Tax on Billionaires to ‘Provide Healthcare for All!’ https://t.co/Qo88Fi87UV

— Sean Hannity (@seanhannity) August 11, 2020

The “Make Billionaires Pay Act” would impose a one-time 60% tax on wealth gains made by billionaires between March 18, 2020, and Jan. 1, 2021. https://t.co/fBxIEOZiCV

— Faiz (@fshakir) August 8, 2020

Increase in billionaire wealth since the start of the pandemic:

? Jeff Bezos: $71 billion
? Elon Musk: $46 billion
? Mark Zuckerberg: $38 billion

Meanwhile, women across America are struggling to afford rent, put food on the table, and pay for bills. Where’s our bailout?

— Women’s March (@womensmarch) August 10, 2020