Bernie Sanders explains his proposed billionaire tax

Senator Bernie Sanders, an Independent from Vermont and ranking member of the Senate Health, Education, Labor, and Pensions Committee, speaks during a hearing in Washington, DC, US, on Tuesday, Feb. 3, 2026. | Graeme Sloan/Bloomberg via Getty Images

Vermont Sen. Bernie Sanders (I-VT) is no stranger to singling out the richest of the rich. Along with Rep. Ro Khanna (D-CA), Sanders recently introduced the Make Billionaires Pay Their Fair Share Act, a 5 percent annual wealth tax on anyone in the US worth over a billion dollars.