Bernie Sanders Proposes 100% Tax on Incomes Over $999M – Walmart (NYSE:WMT)

Sen. Bernie Sanders (I-Vt.) reportedly said the U.S. government should confiscate 100% of any money that Americans make above $999 million.

“You may disagree with me but, fine, I think people can make it on $999m. I think that they can survive just fine,” Sanders told the host of “Who’s Talking to Chris Wallace?” on HBO Max, according to a report by The Guardian.

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On Walmart: Wallace had earlier noted how the late Sam Walton could make Walmart Inc WMT the largest single private employer in the U.S. because of the huge family net worth of about $225 billion.

Sanders responded by saying the company, in many cases, pays starvation wages to its 1.2 million employees despite how rich the Waltons are, the report said.

“Many of their workers are on Medicaid or food stamps,” Sanders said.

He, however, added that his comments were not a personal attack against the Waltons or other billionaires. “It is an attack upon a system,” Sanders said. “You can have a vibrant economy without [a few] people owning more wealth than the bottom half of American society combined.”

Sanders published his book “It’s OK to Be Angry About Capitalism” in February where he notes that one-tenth of 1% of the U.S. population owns 90% of the nation’s wealth, the report said.

On Debt Ceiling: Earlier, the Senator had also voiced his take on the debt ceiling crisis stating that the Republican hypocrisy on the national debt “stinks to high heaven.”

“They want to repeal the estate tax. The estate tax, if they got their way, would be a $1.8 trillion tax break to the top 1/10th of 1%. And they are staying up nights worrying so much about government spending. It’s hypocrisy,” Sanders had said.

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