Bloomberg hits progressive rivals at debate: 'We're not going to throw out capitalism'

Democratic presidential candidate and billionaire Michael BloombergMichael BloombergEngel scrambles to fend off primary challenge from left It’s as if a Trump operative infiltrated the Democratic primary process Liberals embrace super PACs they once shunned MORE hit his progressive rivals at Wednesday’s Las Vegas debate while defending how much money he has earned throughout his career. 

“I can’t think of a way to make it easier for Donald TrumpDonald John TrumpSenate advances public lands bill in late-night vote Warren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases Esper orders ‘After Action Review’ of National Guard’s role in protests MORE to get reelected than listening to this conversation,” Bloomberg said, responding to an attack from Sen. Bernie SandersBernie SandersThe Hill’s 12:30 Report: Milley apologizes for church photo-op Harris grapples with defund the police movement amid veep talk Biden courts younger voters — who have been a weakness MORE (I-Vt.). “This is ridiculous. We’re not going to throw out capitalism. We tried that. Other countries tried that. It’s called communism, and it just didn’t work.”

Sanders called the remark a “cheap shot,” and the other Democratic candidates ripped Bloomberg for his billionaire status, with Sanders calling the U.S. economic system “corrupt” and the distribution of wealth “grotesque and immoral.”

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“I can’t speak for all billionaires,” Bloomberg said responded. “All I know is I’m very lucky, made a lot of money and I’m giving it all away to make this country better. And a good chunk of it goes to the Democratic Party as well.”

The former mayor’s response prompted NBC News’s Chuck ToddCharles (Chuck) David ToddChris Wallace to Colbert: US hasn’t seen this level of unrest since 1968 Demings: ‘We are long overdue for every law enforcement agency in our nation to review itself’ DC mayor: ‘I think that the president has a responsibility to help calm the nation’ MORE to ask, “Should you have earned that much money?”

“Yes, I’ve worked very hard for it, and I’m giving it away,” Bloomberg answered. 

Sanders also proposed that workers be “able to share the benefits” of the wealthy’s profits to level out income inequality. 

Bloomberg also touted in the debate that he is the only candidate on the stage to start a business.

Bloomberg was an immediate target for other Democratic candidates during his first debate appearance of the 2020 presidential campaign. 

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