Critics of wealth taxes used to say that the revenue raised would be insignificant. But if you taxed only the wealth separating Elon Musk from the world’s second richest man at just 5%, you’d cover the entire multiyear cost of the rural health transformation project in one shot.
Ro Khanna (@RoKhanna)
250 billionaires own half of California GDP.
Taxing them at 2% would save healthcare for millions. Healthcare workers have already compromised from 5%.
85% of VC money came to California in Q1 2026. The capital flight argument is nonsense.
The only reason to oppose this is if you want to protect the donor class.
It's about protecting money in politics.
I want a Democratic party that will stand for the working class.
This is a moral test for our party.
Whose side are you on?
nytimes.com/2026/06/18/us/un… via @NYTimes
Community note: Billionaires do not "own" half of California's GDP; their combined wealth equals roughly half the value of the state's annual GDP, which measures the market value of newly produced goods and services rather than owned assets. nytimes.com/interactive/20… en.wikipedia.org/wiki/Gross_dom…
— https://nitter.net/RoKhanna/status/2067837054596092030#m