Bernie Sanders says billionaires shouldn't exist. Billionaire Tom Steyer agrees.
Vermont Sen. Bernie Sanders is no friend of billionaires, which had the potential to make things pretty awkward at the Democratic debate on Tuesday night, seeing as he was sharing the stage with one. When CNN moderators asked Sanders about his claims that billionaires shouldn't exist, the question seemed to directly target former hedge fund entrepreneur Tom Steyer, who is worth an estimated $1.6 billion and was standing only a few feet away.
Sanders played it safe, saying "if you're asking me that the wealthy should start paying their fair share of taxes ... that's exactly what I believe." But Steyer wasn't shy when he was given the floor to respond: "Sen. Sanders is right," he said. "There have been 40 years where corporations have bought this government and those 40 years have meant a 40-year attack on the rights of working people and specifically on organized labor. The results are as shameful as Sen. Sanders said."
Steyer called the American income gap "absolutely wrong and absolutely unfair" and pointed out that he was "one of the first people on this stage to propose a wealth tax." Steyer added that he would undo every Republican tax cut for rich people and major corporations. "Our government has failed," he went on. "That's why I'm running for president."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Steyer's agreement with Sanders even surprised some of the other candidates on stage. "Not even the billionaire wants to protect billionaires," joked Minnesota Sen. Amy Klobuchar.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
-
Political cartoons for November 23Cartoons Sunday’s political cartoons include a Thanksgiving horn of plenty, the naughty list, and more
-
How will climate change affect the UK?The Explainer Met Office projections show the UK getting substantially warmer and wetter – with more extreme weather events
-
Crossword: November 23, 2025The daily crossword from The Week
-
Judge halts Trump’s DC Guard deploymentSpeed Read The Trump administration has ‘infringed upon the District’s right to govern itself,’ the judge ruled
-
Trump accuses Democrats of sedition meriting ‘death’Speed Read The president called for Democratic lawmakers to be arrested for urging the military to refuse illegal orders
-
Court strikes down Texas GOP gerrymanderSpeed Read The Texas congressional map ordered by Trump is likely an illegal racial gerrymander, the court ruled
-
Trump defends Saudi prince, shrugs off Khashoggi murderSpeed Read The president rebuked an ABC News reporter for asking Mohammed bin Salman about the death of a Washington Post journalist at the Saudi Consulate in 2018
-
Congress passes bill to force release of Epstein filesSpeed Read The Justice Department will release all files from its Jeffrey Epstein sex-trafficking investigation
-
Trump says he will sell F-35 jets to Saudi ArabiaSpeed Read The president plans to make several deals with Saudi Crown Prince Mohammed bin Salman this week
-
Judge blasts ‘profound’ errors in Comey caseSpeed Read ‘Government misconduct’ may necessitate dismissing the charges against the former FBI director altogether
-
Ecuador rejects push to allow US military basesSpeed Read Voters rejected a repeal of a constitutional ban on US and other foreign military bases in the country
