Sen. Bernie Sanders outlined his plan to raise taxes on the wealthy in an interview Sunday on ABC's "This Week." Sanders said that it was "insane" that Amazon, a company owned by the richest man in the world, paid zero dollars in federal income taxes last year and vowed to "raise corporate taxes and do away with these tax havens."
"We're going to ask the people at top to start paying their fair share," Sanders said. "At the end of the day, we cannot continue this grotesque level of income and wealth inequality that currently exists."
JONATHAN KARL, ABC: So under your economic plan, who pays more taxes? I mean, obviously the billionaires and the millionaires, but who else will pay more taxes?
SEN. BERNIE SANDERS: Well there’s a set of different policies. But basically, when you have the top one percent in America, owning more wealth than the bottom 92 percent, when the very, very rich are becoming phenomenally richer, and doing incredibly well. When you have companies like Amazon -- you know how much Amazon paid in taxes last year, owned by the wealthiest guy in the world?
Paid zero in federal income taxes. That's insane. So yes, we're going to —
KARL: So they’re going pay more, Bezos is going to pay more. But who else? Where do you draw a line? Does somebody making $100,000 -- a family making $100,000 a year pay more? $50,000?
SANDERS: So, for example, we're going to expand benefits on Social Security. And we're going to do that by raising taxes, lifting the cap on people making $250,000 or more. We're certainly going to raise corporate taxes, and do away with these tax havens, where the wealthy and large corporations are stashing their money in the Cayman Islands.
So look at a time of massive income and wealth inequality, where the average American worker today, this is incredible, is making a few cents an hour more than he or she did 43 years ago, while the people on top are doing incredibly well. Yeah, we're going to ask the people at top to start paying their fair share.
KARL: But just to – where?
SANDERS: Well look, we have multiple, it depends on what you're looking at, we have a corporate tax we’re working at. We have a personal income tax. But at the end of the day, we cannot continue this grotesque level of income and wealth inequality that currently exists.