Sen. Bernard Sanders declared Wednesday that rival Michael Bloomberg was what is wrong with America.

Mr. Sanders, an avowed socialist who says billionaires should not exist, slammed the billionaire media mogul for being the prime example of America’s “grotesque and immoral distribution of wealth.”

“Mike Bloomberg owns more wealth than the bottom 125 million Americans. That’s wrong. That’s immoral,” the Vermont senator said at the Democratic presidential debate in Las Vegas.

Mr. Sanders scoffed at Mr. Bloomberg, who is the 14th wealthiest person in the world, for swimming in money while Americans struggle with homelessness, high college tuitions and suffocating student debt.

Mr. Bloomberg did not see it that way.

“I can’t speak for all billionaires. All I know is I’ve been very lucky, made a lot of money and I’m giving it all away to make this county better — and a big chunk of it goes to the Democratic Party as well,” he said.

Pressed by NBC debate moderator Chuck Todd about whether he should be allowed to be a billionaire, Mr. Bloomberg replied, “Yes.”

“I worked very hard for it and I’m giving it away,” said Mr. Bloomberg, a former mayor of New York City.

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