Liberal Sen. Bernie Sanders to kick off California billionaires' tax campaign

Sen. Bernie Sanders, a governmental leader among liberals and populists, adjacent week volition formally footwear disconnected the run to spot a caller taxation connected billionaires connected California’s November ballot.

The arguable proposal, which would enforce a one-time 5% taxation connected the assets of the state’s wealthiest residents, is captious to backfilling national backing cuts to healthcare enacted by the Trump administration, Sanders said successful a statement.

“This inaugural would supply the indispensable backing to forestall implicit 3 cardinal working-class Californians from losing the healthcare they presently person — and would assistance forestall the closures of California hospitals and exigency rooms,” helium said. “It should beryllium communal consciousness that the billionaires wage conscionable somewhat much truthful that full communities tin sphere entree to life-saving aesculapian care. Our state needs entree to hospitals and exigency rooms, not much taxation breaks for billionaires.”

The autarkic legislator from Vermont, who caucuses with Democrats successful the nation’s Capitol, volition look Feb. 18 astatine the Wiltern successful Los Angeles alongside salient philharmonic acts. Sanders has a heavy basal of enactment among California Democrats, winning the state’s 2020 statesmanlike superior implicit Joe Biden by 8 points, and narrowly losing the 2016 superior to Hillary Clinton. In some elections, helium won the votes of much than 2 cardinal Californians, who were besides a large root of the small-dollar donations that fueled his insurgent campaigns.

The taxation proposal, which Sanders antecedently endorsed connected societal media, is projected by the Service Employees International Union-United Healthcare Workers West. The supporters request to stitchery the signatures of astir 875,000 registered voters and taxable them to region elections officials by June 24 for the measurement to suffice for the November ballot. They began gathering signatures successful January.

Supporters of the taxation reason it is 1 of the fewer ways the authorities tin backfill large national cuts to healthcare services for California’s astir susceptible residents. Opponents pass it would termination the innovation that has made the authorities affluent and punctual an exodus of affluent entrepreneurs.

More than 200 billionaires successful Californians would beryllium affected if the connection qualifies for the ballot and is approved. Some salient billionaires person already near the state, notably PayPal co-founder Peter Thiel and task capitalist David Sacks.

Both men were large supporters of President Trump.

Democrats are divided astir the issue. Notably, Gov. Gavin Newsom and San Jose Mayor Matt Mahan, who is among a twelve candidates moving successful November to regenerate the termed-out governor, reason the proposal.