Sen. Bernie Sanders said in Tuesday’s Democratic debate that three Americans are richer than the bottom half of all Americans. This was not the first time the senator made the statement. He also said so at the Democratic debate in June this year.
Who are the three Americans? According to Thewrap, Bernie Sanders is referring to the three billionaires – Bill Gates, Jeff Bezos and Warren Buffett. And according to the fact-checking news organization Politifact, Sanders is right that the three men are wealthier than half of all Americans.
In 2018, Forbes said that Bezos and his family are worth $160 billion, Bill Gates is worth $97 billion, and Warren Buffett is worth $88 billion. That comes to a total of $345 billion dollars.
The Guardian reported that Bezos’ ex, MacKenzie Bezos, will receive $36 billion in their divorce. That would drop his worth to a paltry $124 billion, and the total worth of Bezos, Gates and Buffett to $309 billion.
According to a study by the Institute for Policy Studies, the number above still makes the combined wealth of the three billionaires significantly higher than the roughly $250 billion in combined wealth for the bottom half of Americans.
“Almost one in five American households now resides in our Underwater Nation. These households often have no savings at all or owe more than they own,” Institute for Policy Studies, reported.
Sanders brought up the statistic in response to a question from CNN’s Erin Burnett, who asked if he wants to tax billionaires out of existence. Sanders said he does indeed want significantly higher taxes on the wealthiest people in America.
“When you have a half-million Americans sleeping out on the street, 87 million people uninsured or underinsured, when you have hundreds of thousands of kids who cannot afford to go to college, and millions struggling with the oppressive burden of student debt… and you have three people owning more wealth than the bottom half of American society, that is a moral and economic outrage,” Sanders said.
Sen. Elizabeth Warren said she agreed, and accused fellow Democrats on the debate stage of wanting to protect billionaires.
Sen. Amy Klobuchar fired back that “not even the billionaire” onstage wanted to protect billionaires, referring to Tom Steyer.