Bernie Sanders is a Socialist millionaire with investments. He calls himself a Democratic Socialist or Progressive as if the difference was worth noting.
He says there is a big difference between a Democratic Socialist and a Socialist but don’t fall for it. A statist is a statist, plus this is a man with a communist history.
Let’s pretend that the differences matter and define the two. The big difference is Democratic Socialists allow an electoral process. Nicolas Maduro, President of Venezuela, is a Democratic Socialist and we know how that has worked out for them.
Socialism can be defined as a system of collective ownership and management of the means of production and the distribution of goods. Democratic Socialism gives more importance to a democratic character aka the vote. The principles are the same, but the major difference is Democratic Socialists think people should vote for all changes.
Bernie doesn’t want to take over all private enterprises, he just wants to regulate and tax them into oblivion so their money becomes the governments to be used for the common good. For someone who wants to give away everyone else’s money, he sure has a lot of his own.
In an article by Cliff Kincaid at Director Blue, Bernie Sanders is outed as a socialist millionaire. Having accomplished nothing in the Senate, he and his wife have accumulated impressive wealth. Why is it okay for Bernie to be wealthy and have investments on Wall Street? He has said that $250,000 is wealthy and he wants to take the axe to Wall Street while raising the highest tax rate to maybe 90% – like Eisenhower he says disingenuously for the superficial voter.
Bernie’s wife was investigated for federal bank fraud. That prosecution would certainly be ironic.
From Mr. O’Brien:
Financial disclosure does not tell you net worth. I did the math based on the figures below and estimated Bernie Sanders’ net worth to be $1.2 to $1.5 million.
In fact, there is no reasonable way the self proclaimed “democratic socialist” does not have a net worth under $1 million. Politico in July 2015 reported his disclosed finances to be “less than $750,000 in assets — all of it in his wife’s name — according to his presidential personal financial disclosure form.” That doesn’t count was is not required to be disclosed. Read more: Bernie Sanders’ wife accounts for all his reported assets
Financial disclosure reports for Federal candidates are not meant to be net worth summaries but are relatively incomplete tools for listing potential conflicts of interests. “Candidates of any wealth level aren’t required to reveal any information about their personal property—boats, cars, jewelry, artwork, furniture—and they don’t have to disclose their personal residences unless they generate income.”
If you google “Bernie Sanders Net Worth” you do not get his net worth. The “media” articles on the subject generally contain the incomplete information Bernie Sanders partially SELF reported about his and his spouse’s finances sloppily referenced or inferred as a complete accounting of his net worth. The reporters reference his US Senate @Page on opensecrets.org and Presidential @Page on opensecrets.org financial disclosure forms, which are incomplete for net worth calculations. However, if you add all the pieces of Bernie Sanders’ finances together, being able to call him a millionaire, the political taboo label the Socialist Senator and Big Labor advocate has been working hard to avoid is not a stretch at all.
Mutual Funds Value $194,026-$741,030
He has investments listed under his spouse for TIAA, CREF, VALIC and Vanguard. Two under $1,000, twenty between $1,001 and $15,000, four between $15,000 and $50,000 and two between $50,000 and $100,000. That range is $180,000 to $700,000 in total investments specifically between $194,026-$741,030 in assets. He did list $25,000 to $65,000 in credit card debt on two cards at 8.5% and 10.25%.
Known Real Estate Value $150,000- $350,000 + $5,001-$15,000 in income annual
Bernie does not disclose the value of real estate holdings. He can. He is not required to, but he could if he chose. It is known he and/or his wife own at least two homes- one with rental income in Vermont and one near Capitol Hill where the median home value is $722,000. If he owned a vacation home in the Bahamas, he would not be required to tell a soul of its value or if it even existed.
“In his 2012 Senate personal financial disclosures, Sanders reported having a joint rental property in Burlington valued at $100,001-$250,000, for which he received $5,001-$15,000 in income. Also in 2012, he reporting a 30-year mortgage of $50,001-$100,000 for a condo in Washington, D.C., dating from 2000.” -Politico (link above) I would have to infer that DC mortgage to be for part of a DC home or maybe a third property? The mortgages and a very old student loan- could have been for his son or possibly step children are all no longer listed as liabilities. That is some small clue to the value of real estate most likely now owned free and clear and especially now accounting for the stark increase in DC home values over the last 25 years.
Senate Salary Value $174,000 Annual
In fact, his latest financial disclosure form does not even list his annual US Senate Salary of $174,000. Sanders has been a public servant for over 35 years. I appreciate his service, but he needs to admit his local and Federal government jobs have made him a millionaire. Only in America- millionaire John Lennon sings about “no possessions” from his upper west side manse and our self proclaimed “Socialist Senator” made himself a millionaire working for the government no less! God Bless America.
Spouse’s Employment $100,000 Annual
It is also a fact Senator Sanders places all assets in his second wife’s name, Jane O’Meara Sanders. I wonder why he does that? A member of the media should ask him that directly. Read Getting to Know Jane Sanders, Wife of Bernie for more background. Jane has been President of a small private liberal arts school and it has been reported she received a $200,000 pay out when she left the school. She also received “under $1,000” in undisclosed fees from two Vermont state boards. I want to note that Jane’s story is one of service and resilience. She seemed to have worked hard to earn her success and is characterized as a supportive wife to Bernie, if not the secret of his success. Not to mention a mother of 3 children from her previous marriage. God Bless Jane too. But at some point she must be making $100k per year?
Pension $5,000 Annual
Bernie has one pension from the City of Burlington, VT as its former Mayor which pays him $5,000 per year. He has listed some minor investments.
All Expenses Paid
And I’m not counting his access to support by a multi-million dollar US Senate staff and a multi-million dollar US Presidential campaign- leaving not a penny in personal expenses for him to pay. I am also not accusing Bernie of illegally or unethically benefiting from his campaign accounts or US Senate office. I am merely pointing out that all of his expenses would be rightly covered under one or both of those entities.
Do the Math
If Bernie’s NOT a millionaire, he shouldn’t be allowed near anyone’s money.
I’m going to conservatively estimate Bernie and Jane’s income at $290,000 annually. Between mutual fund investments and minimum real estate values Feel the Bern is Feelin’ the Wealth between $344,026 and $1,091,030. And there is no way his DC residence is worth a maximum of $100,000. You pay that for a parking space now in downtown DC. And subtracting his listed debt of $25,000 to $65,000, I still find no way the man isn’t well over $1 million in net worth.
I would estimate a true fair range is a $1.2 to $1.5 million net worth for Senator Bernie Sanders. For someone who doesn’t care about money, he goes a long way to cover up his true net worth. And the media goes right along with it.