‘Billionaires should not exist’: Is Bernie Sanders’ wealth tax too extreme for America? ...News

Democrat 2020 contender Bernie Sanders has unveiled an ambitious wealth tax proposal, promising to slash the fortunes of America’s uber-rich. Is his plan an existential threat to the wealthy or mere election bluster? The Vermont senator unveiled his plan on Tuesday, declaring on Twitter afterwards that “billionaires should not exist.” If implemented, his ‘Tax on Extreme Wealth’ would see a progressive tax applied to couples with a net worth of $32 million, or singles with a worth of at least $16 million. These groups would give the government a one-percent cut of their fortune annually, while those with assets of $10 billion or more wo

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