Communist Bernie Sanders wants to crash the stock market in order to “help” the millions of people who lost their jobs due to the government mandated lockdown of private businesses
By Daniel Alman (aka Dan from Squirrel Hill)
August 7, 2020
Bernie Sanders has introduced a bill called “The Make Billionaires Pay Act.”
The bill would impose a 60% wealth tax on the urealized capital gains that billionaires made during the COVID-19 pandemic.
The only way that Jeff Bezos, Elon Musk, and others could get the money to pay this tax would be by selling their stocks in the very companies that they themselves created.
That would push stock prices down and crash the stock market.
Sanders thinks this is the way to “help” the millions of people who lost their jobs due to the government mandated lockdown of private businesses.
Sanders is upset that amazon founder Jeff Bezos has been successfully delivering essential goods to the homes of millions of Americans during the government lockdown.
Sanders is also upset that Tesla Motors founder Elon Musk has been successfully manufacturing huge numbers of electric cars.
So Sanders wants to punish them for their success.
And in punishing these billionaires for their success, Sanders would also end up punishing anyone who has a job or wants a job.
Sanders doesn’t like it when private businesses sell customers the goods and services that customers want. Instead, Sanders prefers that people have to wait in line. Sanders said it’s a “good thing” when people have to wait in line for food. These are Sanders’s exact words:
“It’s funny, sometimes American journalists talk about how bad a country is, cause people are lining up for food. That’s a good thing! In other countries people don’t line up for food: the rich get the food and the poor starve to death.”
You can see and hear Sanders saying those words in this video:
https://www.youtube.com/watch?v=zJBjjP8WSbc
While Sanders thinks it’s a “good thing” when people have to wait in line for food, I wrote this blog post about what it’s actually like in the real world when people have to wait in line for food: The Maduro diet: How most Venezuelans lost an average of 19 pounds in 2016, plus another 24 pounds in 2017
Sanders also said the following:
“You don’t necessarily need a choice of 23 underarm spray deodorants or of 18 different pairs of sneakers”
Well, as it turns out, the communist policies of Hugo Chavez and Nicolas Maduro have caused shortages of both deodorant and shoes in Venezuela.
In addition, Vermont has declared clothing to be “non-essential,” and has ordered Target, Wal-Mart, and other stores to stop selling it.
The people who elected Sanders to the U.S. Senate are the same people who elected the politicians in Vermont who ordered Target, Wal-Mart, and other stores to stop selling clothing.
Sanders is a communist who said:
“I favor the public ownership of utilities, banks and major industries”
Sanders’s entire economic policy is based on his envy and jealousy of those who are more financially successful than himself.
Sanders’s proposal is called “The Make Billionaires Pay Act.”
It would have been “Millionaires and Billionaires,” except hypocrite Sanders stopped using that phrase after the New York Times reported that Sanders himself was a millionaire.
Sanders then proceeded to defend his own millionaire status by saying:
“I wrote a best-selling book. If you write a best-selling book, you can be a millionaire, too.”
I agree with Sanders on that one point.
But Sanders is a hypocrite because he does not apply the same justification to the wealth of Bezos, Musk, etc., that he applies to his own wealth.
Sanders claims that his proposed tax on billionaires’ wealth would be a “one time” event.
However, in the past, Sanders proposed an annual wealth tax that billionaires would have to pay every year, until they were no long billionaires.
Sanders tried to justify his proposed annual tax on billionaires’ wealth by saying:
“Billionaires should not exist”
https://twitter.com/berniesanders/status/1176481898685710337
The reason that Sanders thinks billionaires should not exist is because he is against allowing people to spend their own money on the goods and services that they want. Sanders prefers that people have to wait in line for food, and that there be fewer choices when it comes to everyday consumer products such as shoes and deodorant.
That’s not “democratic socialism” like they have in Sweden, Norway, Finland, and Denmark.
That’s communism, like they have in Venezuela, Cuba, and North Korea.
Here’s an article about Sanders’s new bill:
https://www.yahoo.com/news/bernie-sanders-tax-billionaires-pandemic-health-care-204709337.html
Bernie Sanders wants to tax billionaires’ pandemic gains to fund health care
By Adriana Belmonte
August 6, 2020
A new bill introduced by Sens. Bernie Sanders (I-VT), Kirsten Gillibrand (D-NY), and Ed Markey (D-MA) would implement a one-time 60% tax on billionaires to cover the health care costs of every American for a year.
The Make Billionaires Pay Act would tax the $731 billion in wealth accumulated by the richest 0.001% of America between March 18 through August 5. This would apply towards 467 individuals.
“The legislation I am introducing today will tax the obscene wealth gains billionaires have made during this extraordinary crisis to guarantee healthcare as a right to all for an entire year,” Sen. Sanders said in a statement. “At a time of enormous economic pain and suffering, we have a fundamental choice to make. We can continue to allow the very rich to get much richer while everyone else gets poorer and poorer. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and well-being of tens of millions of Americans.
The money generated from this 60% tax would go towards covering out-of-pocket expenses for the uninsured and underinsured for one year.
The top five richest Americans – Amazon CEO Jeff Bezos, Microsoft Founder Bill Gates, Facebook CEO Mark Zuckerberg, Berkshire Hathaway CEO Warren Buffett, and Oracle Founder Larry Ellison —-would pay a combined $87.1 billion under the bill. In total, the tax would generate over $421.6 billion.
“In my view,” Sanders added, “it is time for the Senate to act on behalf of the working class who are hurting like they have never hurt before, not the billionaire class who are doing phenomenally well and have never had it so good.”
‘Demanding that billionaires pay their fair share of taxes’
The Make Billionaires Pay Act would cover all medical bills, including prescription drugs and coronavirus-related expenses, over the next 12 months with the tax staying in effect until January 1, 2021.
“Instead of more tax breaks for the rich while more Americans die because they cannot afford to go to a doctor, let us expand Medicare and save lives by demanding that billionaires pay their fair share of taxes,” Sanders said.
The popular senator also lambasted the fact that CEOs like Bezos and Tesla (TSLA) CEO Elon Musk saw their net worth surge during the pandemic — Bezos’ wealth increased by 63% while Musk’s nearly tripled.
In that same period of time, over 5 million Americans have lost their employer-sponsored health care. And although President Trump pledged to reimburse hospitals for any coronavirus-related expenses for the uninsured, that still leaves non-coronavirus expenditures that could add up.
“During this unprecedented economic and public health crisis, millions of Americans are out of work and struggling to put food on the table while billionaires are getting even wealthier,” Gillibrand said in a statement. “Requiring billionaires to pay their fair share will help support workers and families dealing with job losses, food insecurity, housing instability and health care. Not only is this a common-sense proposal, but it’s a moral one and Congress should be doing all we can to assist Americans struggling right now.”
This isn’t the first wealth tax that’s been floated through Congress: Both Sanders and Sen. Elizabeth Warren (D-MA) frequently targeted the ultra wealthy throughout their presidential campaigns and each proposed their own kind of wealth tax that would go towards funding Medicare for all.
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