Bernie Sanders Proposes Wealth Tax That Would Cut Billionaires’ Net Worth in Half
- Flanking Warren on left, Sanders drops assets to $32 million
- Rate would rise until it reaches 8% for $10 billion and above
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Bernie Sanders on Tuesday unveiled a proposal for a wealth tax that takes Elizabeth Warren’s signature idea and pushes it even further, saying his goal is to cut American billionaires’ fortunes in half over 15 years.
Sanders, who is struggling to maintain his top-three standing in the Democratic presidential primary campaign, announced the proposal while campaigning in Iowa counties that voted for Barack Obama in 2012 before switching to Donald Trump in 2016.