Minimal Left Bias
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Former Washington Journalist
Contributor on The Bipartisan Press
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While Donald Trump and his Republican allies frequently tag Democrats as socialists, they actually are merely socialists of a different sort: corporate socialists, according to Sen. Bernie Sanders, the Vermont independent who is one of nearly two dozen candidates running for president as a Democrat.
“Trump are also socialists except they are corporate socialists. They are prepared and do provide hundreds of billions of dollars every single year in subsidies, and tax breaks to large corporations and the wealthy. Anderson, you will remember very well the Wall Street bailout and Wall Street is the epitome of unfettered capitalism except when the greed and behavior nearly destroyed the economy,” Sanders said in an on-air interview with CNN’s Anderson Cooper. “They went begging and they said we need help, give us $700 billion from the treasury and trillions of dollars in low-interest loans from the Federal Reserve.”
The major oil companies are another guilty party, taking billions of dollars in tax breaks annually, Sanders added.
“You got the fossil fuel industry today which is literally destroying the planet and they get billions of dollars in subsidies and tax breaks,” he said. “You have Amazon owned by the wealthiest person in this country. Jeff Bezos made $11 billion last year and that’s what Amazon made in profits. They didn’t pay a nickel in federal income taxes.
“Donald Trump himself as part of his housing endeavors received tens and tens of millions of dollars in subsidies and tax breaks,” Sanders added. “So you do have socialism in this country except as Martin Luther King reminded us, it’s individualism for the poor.”