Transcripts for MSNBC Alex Witt Reports 20220212 19:53:00 :

MSNBC Alex Witt Reports February 12, 2022 19:53:00

when other people are still struggling. and so it looks to me like there's a lot of billionaires and some corporations that didn't join in that shared sacrifice. >> and so, to that extent, john, you are saying that we need a 92% tax. 92% on billionaire profiteers. you have senator bernie sanders, he's calling for a 60% tax on the wealth gains by billionaires that were made during that first year of the pandemic, but why are you calling for 92%? where do you want to see that money go? >> sure. well, first off, it's rooted in history. during world war ii, which is not purely parallel by any means, but a national crisis where we asked everyone to sacrifice and to give of themselves. during world war ii, we had an excess profits tax on corporations of over 90% and a top marginal tax of 95%. after the war ended, that top marginal tax rate on the wealthy went down to 92% and we kept it

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