LIVE Bernie Sanders TAX THE RICH Rally in NYC

Bernie Sanders highlights the unprecedented level of wealth inequality in the US. The top 1% owns more wealth than the bottom 93%, and one individual (Elon Musk) owns more than the bottom 53% of American households. Despite this, billionaires pay significantly lower effective tax rates than average workers. For example, Elon Musk paid less than 3.3%, Jeff Bezos less than 1%, and Michael Bloomberg 1.3%, while average truck drivers pay 8.4% and registered nurses 13.3%. This disparity is attributed to a rigged tax code written by lobbyists for the wealthy.

Sanders states, 'The top 1% owns more wealth than the bottom 93%.' and 'One man, one person, Mr. Musk owns more wealth than the bottom 53% of American households.' He cites Elon Musk's effective tax rate of less than 3.3% versus an average truck driver's 8.4%.

New York State Senator Gustavo Rivera and CNA Aia Agaba detail the severe consequences of federal policy changes, particularly Medicaid cuts, on New Yorkers. Approximately 450,000 New Yorkers will lose health coverage by July, with an additional 200,000 at risk by January due to work requirements designed to kick people off the system. This will impact the entire healthcare ecosystem, including nursing homes where the vast majority of residents rely on Medicaid. These cuts are framed as a direct result of tax breaks given to the ultra-rich.

Rivera states, 'About 450,000 New Yorkers because of the changes that are happening at the federal level will all of a sudden no longer be eligible to receive health coverage.' Agaba adds, 'Trump and the Republicans cut $1 trillion in healthcare funding to give tax breaks to the ultra rich and to pump more money into ICE.'

Bernie Sanders introduced a bill for a 5% wealth tax on America's 938 billionaires, projected to raise $4.4 trillion over 10 years. This revenue could fund substantial social programs without significantly impacting the billionaires' remaining wealth. Examples include $3,000 direct payments to households making under $150,000 ($12,000 for a family of four), ending homelessness, building 7 million units of affordable housing, expanding Medicare to cover dental, vision, and hearing, universal childcare, and ensuring no educator makes less than $60,000 annually.

Sanders describes his bill: 'a 5% wealth tax on 938 billionaires in America' that 'would raise $4.4 trillion over a 10-year period.' He details its uses, including '$3,000 direct payment' and 'enough money to end homelessness in America.'

Multiple speakers, including the initial speaker and Julio Cores, criticize current Democratic leadership, particularly Governor Kathy Hochul, for not being sufficiently progressive. They accuse Democrats of acting like 'baby Republicans,' protecting wealthy donors, and failing to learn lessons that led to past political failures. They demand that leaders 'show up and be a leader' by actively supporting and implementing policies to tax the rich, rather than daring voters to vote against them.

The initial speaker states, 'I am also tired of having to tell Democrats to stop trying to act like baby Republicans because acting like baby Republicans is the reason why we have Donald Trump in the first place.' Julio Cores adds, 'We're asking the governor to stand with the majority and not the rich donors.'