Sanders Backs California’s Billionaire Tax Initiative
During an event in California, Senator Bernie Sanders expressed strong support for the state’s proposed “billionaire tax.” He emphasized the importance of democratic power, stating, “Billionaires will learn that we still live in a democracy.” He criticized pervasive greed and moral decline in the country.
Speaking to a crowd of about 1,500 at The Wiltern theater in Los Angeles, Sanders rallied for the California Billionaire Tax Act—a ballot measure slated for 2026 aimed at generating approximately $100 billion over five years. This revenue would help mitigate looming federal health care cuts.
The evening was themed around the slogan “Make billionaires pay their share,” as Sanders highlighted the pressing issue of wealth inequality in the nation. “We are witnessing a moment in history when so few people have so much wealth and power,” he remarked.
Visible signs in the auditorium advocated for various causes, including public education and health care. Attendees included health care professionals dressed in white coats, along with supporters wearing T-shirts that read “Tax Billionaires.”
The proposal seeks to impose a one-time 5% tax on billionaires, which Sanders called an “emergency” action to support health care workers in California. However, Governor Newsom is against the tax, citing potential short-term benefits but warning about the risk of long-term revenue losses if wealthy individuals move out of state.
Sanders specifically called out tech moguls like Google’s Sergey Brin and Meta’s Mark Zuckerberg, mentioning that companies like Musk’s SpaceX and Tesla aren’t contributing their fair share. Interestingly, Sanders himself reportedly raised over $550,000 for private jet travel during his “War on the Oligarchies” tour, drawing criticism that it may contradict his populist stance.
Rage Against the Machine guitarist Tom Morello also spoke at the event, delivering a passionate pro-union message. He introduced himself as a union member, noting his mother’s background as a union teacher.
A recent poll indicated that around 60% of likely voters in California support a wealth tax for billionaires, although many are concerned that it could drive businesses and wealthy individuals out of the state. Notably, several billionaires, including Larry Page and Zuckerberg, have already moved away, and Larry Ellison has been quietly accumulating property in Nevada.
