Bernie Sanders, who is running for president in 2020, recently told a major New York newspaper that he is formulating a tax on the most wealthy that will, he hopes, eliminate billionaires. Both he and Sen. Liz Warren are proposing taxes on immoderate wealth that push accumulated assets into the stratosphere of hundreds of billions of dollars. While Democratic presidential candidates have often promised to ‘soak the rich’ if they were put in the White House, so far it has been mostly a bit of campaign razzle dazzle, not something you could take to the bank. But political experts are now eyeing both Sanders and Warren as possible White House residents, since Trump has been losing ground over his withdrawal of troops in Syria and continuing issues with tariffs in China.
CEO of Facebook, Mark Zuckerberg, begged to differ from Sanders this past Friday. Zuckerberg, who is estimated to be worth over seventy billion dollars, told Fox News that taxing billionaires into extinction would be a severe blow to philanthropy and the funding of much cutting edge scientific and medical research.
Zuckerberg also told Fox News that while he was uneasy with the idea of single individuals possessing huge fortunes in the billions, he thought letting government take the money for its own purposes would be even worse.