The Blubber

Bernie Sanders says it’s possible to eliminate poverty altogether—if society is willing to heavily tax billionaires, a group he argues shouldn't even exist.

In an interview with PoliticsJOE, the Vermont senator emphasized the vast concentration of global wealth, noting that the richest 1% now hold more wealth than the bottom 95% combined.

Citing Elon Musk, whom he referred to as Donald Trump’s “first buddy,” Sanders called it “insane” that someone like the Tesla CEO can amass hundreds of billions of dollars while millions of Americans struggle to afford essentials like health care and childcare.

“We can literally abolish poverty right now,” Sanders said, calling for a fundamental restructuring of the economy. “If we have the courage to make sure that this new technology, the creation of wealth, goes to all people, not just the people on top.”

Pressed on whether that meant a wealth tax, Sanders went further: he said billionaires should be taxed out of existence.

“In the United States, we should not have billionaires,” he said, pointing to growing inequality around the world. “In nation after nation, the income and wealth gaps are widening, and in this country, it’s just unacceptable.”

Referencing Musk again, Sanders said: “The idea that someone can have $300 to $400 billion, while people are sleeping on the streets and can’t afford basic needs—that is absolutely insane.”

He called for a broad “democratization of society,” one that includes ordinary people in shaping an economy “that works for all of us—not just Wall Street and the new tech elite.”