Sanders, Khanna Unveil $4.4 Trillion Tax Increase

[rangerrebew]

Sanders, Khanna Unveil $4.4 Trillion Tax Increase
New York Times campaigns against 'gilded age' in Wyoming

Ro Khanna, Bernie Sanders (cropped, Chip Somodevilla/Getty Images)
Ira Stoll
March 3, 2026

Sen. Bernie Sanders, socialist of Vermont, and Rep. Ro Khanna, a Democrat from California best known for trafficking in Epstein-related conspiracy theories, are pushing legislation that would impose a new 5 percent annual wealth tax on billionaires and use the revenue to give money to everyone earning less than $150,000 a year.

The bill, which the politicians are calling the Make Billionaires Pay Their Fair Share Act, would raise $4.4 trillion over a decade, according to a letter from Emanuel Saez and Gabriel Zucman, economists at the University of California, Berkeley, that was released by the leftist politicians.


The March 2, 2026, letter from the two economists, on University of California, Berkeley, letterhead, advocated the tax less as a tool to raise revenue and more as a way of curbing what the economists describe as an "unprecedented level" of wealth concentration.

https://freebeacon.com/america/sanders-khanna-unveil-4-4-trillion-tax-increase/

[Smokin Joe]

WOuld it raise gobs of money? Or would Billionaires (remember billionaires?) buy their own island and declare independence?

"Wealth taxes" are working so well in New York and California...

[mystery-ak]

 March 3, 2026 10:43am EST
Progressive lawmakers Bernie Sanders, Ro Khanna unveil $4.4T wealth tax targeting billionaires
Proposed legislation targets 938 individuals and promises $3,000 payouts to families earning under $150K

By Kristen Altus FOXBusiness

Progressive lawmakers Sen. Bernie Sanders, I-Vt., and Rep. Ro Khanna, D-Calif., are targeting the billionaire class with a massive new tax proposal that seeks to seize trillions from the nation's wealthiest individuals to fund a sweeping government spending spree.

Announced Monday, the "Make Billionaires Pay Their Fair Share Act" targets 938 individuals, including titans like Elon Musk and Jeff Bezos, for an estimated $4.4 trillion over the next decade — a move Sanders claims is necessary to fix a "corrupt tax code" that has seen wealth redistributed from the bottom 90% to the top 1%.

"At a time of unprecedented income and wealth inequality, this legislation demands that the billionaire class in America finally pay their fair share of taxes so that we can create an economy that works for all of us, not just the 1%," Sanders said in a press release. "We can no longer tolerate a corrupt tax code that enables billionaires to pay a lower tax rate than the average worker."

"We have a deep economic divide in this country. On one side, places like Silicon Valley are generating extreme wealth. On the other side, families are struggling to cover the cost of health care, housing, and basic needs. We can tax billionaires a modest amount to make sure everyone has a fair chance while keeping our innovative engine," Khanna said in the same press release.

more
https://www.foxbusiness.com/politics/progressive-lawmakers-bernie-sanders-ro-khanna-unveil-4-4t-wealth-tax-targeting-billionaires