Laws already exist in states such as Massachusetts and Minnesota, where wealth tax proceeds are paying for preschool and K-12 meals and improving transportation and roads. In March, Sen. Bernie Sanders and Rep. Ro Khanna introduced the “Make Billionaires Pay Their Fair Share Act”, an annual 5% wealth tax for billionaires. Americans understand that there is a lack of fairness in America.”With these billionaire tax proposals, politicians and advocates hope to capture Americans’ intensifying anger at the rich. They have also backed a challenger to Khanna’s seat over his support for the state billionaire tax proposal. Right now, her focus is on collecting 875,000 signatures by late June to get the billionaire’s tax on the California ballot.

Source: The Guardian April 03, 2026 16:09 UTC