Sen. Bernie Sanders (I-Vt.) reportedly said the U.S. government should confiscate 100% of any money that Americans make above $999 million.
"You may disagree with me but, fine, I think people can make it on $999m. I think that they can survive just fine," Sanders told the host of Who's Talking to Chris Wallace? on HBO Max, according to a report by The Guardian.
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On Walmart: Wallace had earlier noted how the late Sam Walton could make Walmart Inc WMT the largest single private employer in the U.S. because of the huge family net worth of about $225 billion.
Sanders responded by saying the company, in many cases, pays starvation wages to its 1.2 billion employees despite how rich the Waltons are, the report said.
"Many of their workers are on Medicaid or food stamps," Sanders said.
He, however, added that his comments were not a personal attack against the Waltons or other billionaires. "It is an attack upon a system," Sanders said. "You can have a vibrant economy without [a few] people owning more wealth than the bottom half of American society combined.
Sanders published his book It's OK to Be Angry About Capitalism in February where he notes that one-tenth of 1% of the U.S. population owns 90% of the nation's wealth, the report said.
On Debt Ceiling: Earlier, the Senator had also voiced his take on the debt ceiling crisis stating that the Republican hypocrisy on the national debt stinks to high heaven.
"They want to repeal the estate tax. The estate tax, if they got their way, would be a $1.8 trillion tax break to the top 1/10th of 1%. And they are staying up nights worrying so much about government spending. It's hypocrisy," Sanders had said.
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US President Donald Trump on April 10 signed a joint Congressional resolution overturning a Biden-era rule that requires decentralized finance (DeFi) protocols to report to the country’s tax authority, the Internal Revenue Service.
The rule would have required DeFi platforms, such as decentralized exchanges, to file their gross proceeds from crypto sales and include information on those involved in the transactions.
Trump was widely expected to sign the bill, as White House AI and crypto czar David Sacks said in March that the president would support killing the measure.
This is a developing story, and further information will be added as it becomes available.
The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
UPDATE: telematics announcement.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
XCMG battery swap crane; via Etrucks New Zealand.
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
“XCMG remains committed to advancing engineering technology to empower a sustainable future. Our mission is to deliver efficient, intelligent, and eco-friendly lifecycle solutions for global clients,” said Mr. Yang Dongsheng, Chairman of XCMG Group and XCMG Machinery. “Today, 19% of our product portfolio comprises green innovations under our ‘Green Mountain’ new energy line, with full electrification across all series underway.”
On today’s troubling episode of Quick Charge, we explore all the troubles befalling Tesla (and TSLA stock) in the month April – with top executives fleeing the ship, demand plummeting, sales slipping, government incentives at home and abroad under threat, and a raft of receipts brought on by an OpenAI lawsuit hitting the brand, it’s already a bad month for Elon … and there’s still 20 more days to go!
None of this even touches on the $43 million “backlogged” rebate scandal Tesla’s facing in Canada that’s being blamed for people’s negative attitudes about the brand (ha!) or the fact that neither the long-promised Roadster 2.0 or the Tesla Semi will see production anytime this year, either.
The word you’re looking for when you think of Tesla these days is, “cooked.”
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