Rep. Ro Khanna said the California Democratic Party and the state’s labor movement endorsed a proposed 5% wealth tax. The ballot initiative would apply to 250 billionaires in California. He announced the endorsements in a video address. He said the measure would preserve health care for millions of residents.
Khanna posted the video on X.
In the video, he said the party and labor groups stood with him and Sen. Bernie Sanders, I-Vt. He linked the initiative to health coverage for working-class and middle-class Californians. Passing it would ensure those residents “don’t lose their health care,” he said.
Khanna then criticized California’s political establishment in Sacramento. He said the establishment and lobbyists are “just blatantly out of touch.”
He said the endorsements showed what California voters want from the Democratic Party. Voters want a party that will “stand up for the working class over the billionaire class,” he said.
Khanna did not identify the officials or lobbyists he criticized in the video. He also did not specify when voters would consider the initiative or how much revenue it could raise.
California Voters Question Ro Khanna’s 5% Wealth Tax Push
The proposal drew criticism over Khanna’s wealth and its potential effect on California businesses.
One response challenged Khanna directly: “Dude is worth $230 Million and wants a cutoff at $1 billion. Step up Ro and contribute your 5%. Or you don’t think you can survive on $219 million? Such a role model…”
Another user wrote, “How come whenever CA needs more money, it’s always ‘gotta tax them more’ and never ‘let’s fight fraud and use our money more efficiently’? Just once I wish CA would try the latter.”
One person stated, “I’m aware of second order effects. I’m a California voter and I don’t want this.”
Another wrote, “I am your constituent @RoKhanna I am not a billionaire and yet I DO NOT WANT THIS. I do not want the tech industry which is the engine of prosperity for me, for California, and for America to be ruined by this stupid communist asset seizure.”
Khanna has not responded publicly to the criticism. The initiative still requires approval from California voters, and questions raised in the thread about how the state would assess and collect the tax remain unanswered.
