Sen. Bernie Sanders Bernie SandersButtigieg stands in as Pence for Harris's debate practice Bernie Sanders warns of 'nightmare scenario' if Trump refuses election results Harris joins women's voter mobilization event also featuring Pelosi, Gloria Steinem, Jane Fonda MORE (I-Vt.) on Tuesday slammed Howard Schultz's possible 2020 presidential bid, claiming that his credibility as a potential candidate was buoyed by his status as a billionaire.

Sanders lambasted Schultz in an interview on "CBS This Morning" after announcing his own candidacy for president.

"Oh isn't that nice?" Sanders said sarcastically when CBS's John Dickerson mentioned Schultz's possible run as an independent. "Why is Howard Schultz on every television station in this country? Why are you quoting Howard Schultz? Because he's a billionaire."

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"There are a lot of people I know personally who work hard for a living and make 40 or $50,000 a year who know a lot more about politics, than, with all due respect, does Mr. Schultz," Sanders continued.

"But because we have a corrupt system, anybody who is a billionaire and can throw a lot of TV ads around on television suddenly becomes very, very credible," he added.

"So Mr. Schultz, what is he blackmailing the Democratic Party? If you don't nominate Bernie Sanders, he's not going to run?" he quipped. "Well, I don't think we should succumb to that kind of blackmail."

Schultz, a former Starbucks CEO, has drawn ample media attention without making any formal announcement of his possible White House run. He has been featured on CBS's "60 Minutes" and held an hourlong prime-time town hall on CNN.

Sanders said his primary goal is to defeat President Trump Donald John TrumpOmar fires back at Trump over rally remarks: 'This is my country' Pelosi: Trump hurrying to fill SCOTUS seat so he can repeal ObamaCare Trump mocks Biden appearance, mask use ahead of first debate MORE in 2020.

"The bottom line for me is I think it is absolutely imperative that Donald Trump be defeated," he said in Tuesday's interview.