And there are almost a thousand other billionaires in the country, so pass that wealth tax and warm up the money cannons! I should mention that Jeff Bezos, who owns The Washington Post, would be one of the prime targets of the wealth tax proposed by Sen. Bernie Sanders (I-Vermont) and Rep. Ro Khanna (D-California). Unfortunately, there are serious arguments that a wealth tax would be unconstitutional. There’s a reason that European welfare states are funded with broad revenue raisers such as the value-added tax (a sort of extra-efficient sales tax), not wealth taxes. Instead, Denmark has repealed its wealth tax (though there’s a movement to reinstate it), and Norway’s 1 percent wealth tax, which raises about 0.6 percent of GDP, recently caused an exodus of the super-wealthy when it was slightly increased.

Source: Washington Post March 09, 2026 16:10 UTC