Bernie Sanders: Tax the Rich

Bernie Sanders explores all of Washington's overspending and realizes there's just one solution - raise taxes.

Under Sanders’ legislation, a 5.4 percent tax on income of more than $1 million a year would yield up to $50 billion annually for the U.S. Treasury.

The same legislation would end tax breaks for big oil and gas companies. That provision would yield about $3.5 billion a year in new revenue.