Bernie Sanders Calls for All Wealth Above $999 Million to Be Confiscated by Federal Government

Socialist Sen. Bernie Sanders (I-VT) has called for America to eliminate billionaires.

Speaking during an interview with CNN anchor Chris Wallace, Sanders declared that the federal government should confiscate the assets of billionaires, even if their wealth has been acquired legally and honestly.

According to Sanders, America should roll out a communist-style asset seizure of all personal wealth above $999 million.

He appeared on Wallace’s show to talk about his new book, “It’s OK to Be Angry About Capitalism.”

A former Democratic Party presidential candidate, the senator amassed huge support in the primaries and raised large amounts of money.

Yet Sanders failed to secure the Democrat nomination in 2016 and 2020.

The CNN host questioned Sanders about a statement in his book that called for the government to prevent the creation of new billionaires.

“So are you basically saying that once you get to $999 million, that the government should confiscate all the rest?” Wallace asked.

“Yeah, I think people can make it on $999 million,” Bernie responded.

“Which would mean that all these billion dollars, basically, it all goes to the government,” said Wallace.


Sanders recently got into an exchange during a contentious Senate hearing over Starbucks’ labor practices.

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The senator made a not-too-subtle remark on the billionaire status of the company’s former CEO, Howard Schultz.

“The fundamental issue we are facing today is whether we have a system of justice that applies to all—or whether billionaires and large corporations can break the law with impunity,” said Sanders.

“Your [billionaire] moniker constantly is unfair,” responded Schultz.

“Yes, I have billions of dollars.

“I earned it. No one gave it to me,” he asserted.

“And I’ve shared it constantly with the people of Starbucks.”

Sanders, who is himself worth $3M and owns three homes, according to GoBankingRates, previously criticized both millionaires and billionaires.

However, he appears to have changed his tune and now only opposes those worth over a billion dollars.

“In your book, you say flatly; billionaires should not exist,” said Wallace, who defended billionaires like Sam Walton and Elon Musk for building businesses that employ hundreds of thousands of workers.

“That’s right,” Sanders responded.

“You can have a vibrant economy without three people owning more wealth than the bottom half of American society.”

“Do I think people who work hard, create new businesses should become rich? I do.

“Do I think they should have $50 billion or $100 billion when you have got half a million people who are homeless in America today when you have 85 million people who can’t afford health insurance? No, I don’t.”

“We should go back to a very progressive tax policy like what we had under Dwight D. Eisenhower,” Sanders added.

The Vermont senator said that a return to the 90 percent top marginal tax rate of the Eisenhower administration was a way to accomplish that.

READ MORE: Biden Provokes Outrage with Anti-Parent Comments: ‘There’s No Such Thing as Someone Else’s Child!’

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By Frank Bergman

Frank Bergman is a political/economic journalist living on the east coast. Aside from news reporting, Bergman also conducts interviews with researchers and material experts and investigates influential individuals and organizations in the sociopolitical world.

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