News & Politics

Bernie Sanders' Frightening Tax Plan: Confiscate Half of Billionaires' Wealth to Finance Medicare for All

Bernie Sanders' Frightening Tax Plan: Confiscate Half of Billionaires' Wealth to Finance Medicare for All
(AP Photo/Mary Schwalm)

The New York Times can barely control itself: Senator Bernie Sanders has proposed a plan to tax “the rich” into oblivion in order to fund “Medicare for all.” It goes without saying that our friends in the mainstream media love him for it.

With regards to the tax, the NYT’s Thomas Kaplan admits that it is “a steep tax on billionaires that could greatly diminish their fortunes… His wealth tax would apply to a larger number of households” than Senator Elizabeth Warren‘s plan and “impose a higher top rate and raise more money.”

In theory, that is. Because those billionaires he wants to bankrupt will undoubtedly quickly move their families and their assets abroad so they won’t end up paying anything. But yeah, tell that to Bernie.

Sanders’ plan is extremely “aggressive,” the NYT admits. That’s not an exaggeration either. After 15 years, his tax will have cut in half the wealth of American billionaires.

“Let me be very clear: As president of the United States, I will reduce the outrageous and grotesque and immoral level of income and wealth inequality,” Bernie said in an interview about the plan. “What we are trying to do is demand and implement a policy which significantly reduces income and wealth inequality in America by telling the wealthiest families in this country they cannot have so much wealth.”

Next, Sanders actually admitted that it’s his goal to wipe out all billionaires — or at least their fortunes. “I don’t think that billionaires should exist,” he explained. “This proposal does not eliminate [them], but it eliminates a lot of the wealth that billionaires have, and I think that’s exactly what we should be doing.”

He added that he hopes “the day comes” when billionaires don’t exist in the United States. But, he added, “it’s not going to be tomorrow.”

This is hardcore socialism and it’s downright frightening. I don’t believe for one second that Bernie will become America’s next president, but people like him are in charge of the Democratic Party. If those fools win the elections, they’ll end up not only bankrupting billionaires but everybody else too.

Any guesses as to when the good old U.S.A. will officially change its name into the “United Soviet Republics of America”?

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