US EditionBernie Sanders kicks off billionaires tax campaign with choice words for the 'oligarchs'
The proposed 5% one-time wealth tax aims to offset federal healthcare funding cuts and could affect 3.4 million Californians losing Medi-Cal coverage, advocates say.
- On Wednesday, Sen. Bernie Sanders formally kicked off the campaign at the Wiltern theater, Los Angeles, addressing about 2,000 attendees to place a billionaires tax on the November ballot.
- The proposal would impose a one-time 5% tax on the assets of California billionaires and trusts, and labor organizers and supporters began gathering nearly 875,000 signatures earlier this year.
- Outside the Wiltern, workers paid $10 per signature gathered nearly 875,000 signatures, while Sergey Brin is spending $20 million to oppose the tax and Mark Zuckerberg's wealth includes $530 million in yachts and 11 homes.
- Business groups warned that the levy could harm California's economy, with Rob Lapsley saying it could destroy innovation; Gov. Gavin Newsom and San Jose Mayor Matt Mahan oppose it, while opposition groups launched countermeasures including ballot measures and digital ads.
- Sanders is using the California trip to meet tech leaders and to speak on Friday at Stanford about AI and automation with Rep. Ro Khanna, and he has previously endorsed the proposal and said he would seek to create a national version.
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Los Angeles Times
Yakima Herald-RepublicBernie Sanders kicks off billionaires tax campaign with choice words for the 'oligarchs'
Populist Sen. Bernie Sanders (I-Vt.), who has a long history of support from liberal California voters, formally kicked off a billionaires tax proposal on Wednesday at the Wiltern in Los Angeles.
Sanders to Oligarchs Opposing California Billionaire Tax: 'You're Treading on Very, Very Thin Ice'
"Starting right here in California, these billionaires are going to learn that we are still living in a democratic society where the people have some power," said Sen. Bernie Sanders.
Financial News Network - Top Dems Sanders and Reich ramp up billionaire tax push, say wealthy have ‘addiction’ to greed
Bernie Sanders and Robert Reich accuse America's "billionaire class" of greed "addiction" as they push for aggressive wealth taxes in blue states like New York and California.Read More …
Mountain View Voice
Bernie Sanders warns of ‘billionaire class’ as California wealth tax fight intensifies
This story was originally published by CalMatters. Sign up for their newsletters. U.S. Sen. Bernie Sanders delivered a fiery warning to what he called the “billionaire class” at a rally Wednesday in Los Angeles in support of a tax initiative that would target California’s wealthiest residents. “The billionaire class no longer sees itself as part […] The post Bernie Sanders warns of ‘billionaire class’ as California wealth tax fight intensifies …
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