First $1 Billion, Now $50 Million: Khanna Says Wealth Tax "Must Not Stop At Billionaires"

Ro Khanna’s New ‘Social Contract’: Wealth Confiscation Masquerading as Moral Philanthropy

Rep. Ro Khanna (D-CA) used his Substack platform on July 2 to lay out what he described as the “philosophical case for tax fairness and taxing billionaire wealth,” framing the proposal as a voluntary-sounding “new social contract” between society and the ultra-rich.  In the post, titled along the lines of support for a billionaire wealth tax, Khanna highlights America’s 938 billionaires holding a combined $8.2 trillion in wealth. He argues that …

First $1 Billion, Now $50 Million: Khanna Says Wealth Tax “Must Not Stop at Billionaires”

(Zero Hedge)—Rep. Ro Khanna (D-CA) - fresh off endorsing California's November ballot measure to seize 5% of billionaire wealth

First $1 Billion, Now $50 Million: Khanna Says Wealth Tax "Must Not Stop at Billionaires"

(Zero Hedge)—Rep. Ro Khanna (D-CA) – fresh off endorsing California’s November ballot measure to seize 5% of billionaire wealth – published a Substack essay Wednesday titled, no really, “Why I Support a Billionaire Wealth Tax.” He makes it roughly a dozen paragraphs before explaining that it isn’t one. “The tax should not stop at billionaires, it must reach centimillionaires,” Khanna writes, before spelling out exactly what that means: every for…