Mike Bloomberg stood up for capitalism during the Democrat debate tonight, and used socialist Bernie Sanders as a punchline.

“What a wonderful country we have,” Bloomberg said. “The best known socialist in the country happens to be a millionaire with three houses. What’d a miss here?”

The audience groaned and booed.

“Well, you missed that I work in Washington,” Sanders responded.

“That’s the first problem,” Bloomberg interjected.

“I live in Burlington, house two,” Sanders continued, triggering the approval of his rival.

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“And like thousands of other Vermonters, I do have a summer camp. Forgive me for that. Where is your home? Which tax haven do you have your home?” Sanders shouted.

Bloomberg said he lives in New York City and pays his taxes.

During another moment, Bloomberg clashed with Sanders over socialism.

“We’re not going to throw out capitalism,” Bloomberg said. “We tried that. Other countries tried that. It’s called communism and it just didn’t work.”

Sanders and Elizabeth Warren audibly objected, as did many in the audience.

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