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Bernie Sanders is famous for being a socialist that generally dislikes billionaires

Bernie Sanders is wanting to get rid of all billionaires by imposing taxes. Bernie has never been a big fan of billionaires, because he thinks they take away money from middle-class Americans. If these taxes were to go through a married couple that makes $32.5 million has to pay a 5,000 dollar tax.  Which doesn’t seem like a lot, but sometimes it is. So, that means they get a 1% tax on net worth above $32.5 million dollars. The tax percentage keeps going up and up the higher net worth the more money they owe.. if, net worth is $10 billion, that means people would have to pay an 8 percent tax on that 10 billion.

His plan is that the wealth of billionaires would be cut in half in 15 years which would help lower privileged classes. That would greatly deplete the number of billionaires in the U.S.A. There would still be some billionaires but not nearly as many as before. Bernie Sanders is set on investing in working people. For years he has been wanting to get rid of billionaires, but he is now getting serious about it. Many billionaires do good with their money, however, some of them do bad, that’s one reason Bernie has an idea to get rid of them. The end goal for Sanders is to get rid of billionaires entirely. Bernie Sanders is currently running for president and one of his competitors, Donald J. Trump, is a billionaire.

The media is taking this in for both sides and it is getting pretty interesting. Bernie Sanders recently called out the “national wealth registry”, to support the extreme tax on the rich. He unveiled the plan to tax assets of the nation’s wealthiest individuals. Bernie is currently listening to the people that want it to be taxed to make his points more valid, which is helping him in his 2020 campaign. Bernie is running for the Democratic nomination. Bernie Sanders’s new tax and Elizabeth Warren’s tax are very similar. Elizabeth originally came up with the idea, and Bernie has made a conclusion on it. Bernie is taking more of an aggressive approach and is saying he will collect $4.35 trillion dollars over a decade versus Elizabeth’s $2.6 Trillion over a decade. This would greatly diminish billionaires’ fortunes.