Sen. Bernie Sanders, a self-described socialist, called for a progressive estate tax on multi-millionaires and billionaires during a speech on Saturday.
“A nation will not survive morally or economically when so few have so much while so many have so little,” Mr. Sanders said at the Vermont AFL-CIO annual convention.
“We need a tax system which asks the billionaire class to pay its fair share of taxes and which reduces the obscene degree of wealth inequality in America,” said Mr. Sanders, an independent who caucuses with the Democrats.
According to Mr. Sanders, taxing the top .25 percent of wealthiest Americans is the fairest way to reduce wealth inequality, lower the $17 trillion national debt and pay for investments in infrastructure, education and other neglected national priorities.
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