Sanders Joins California Wealth Tax Rally, Calls Out Billionaires

The Vermont senator backs a proposed tax on the state's 200 billionaires to fund healthcare programs.

Published on Feb. 26, 2026

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Sen. Bernie Sanders (I-Vt.) joined a rally in Los Angeles on Tuesday to push for California's controversial Billionaire Tax Act, which would charge the state's 200 billionaires a one-time 5% tax on their net worth to fund healthcare programs. Sanders criticized the billionaire class, saying "Enough is enough" and that the rich believe they have a "divine right" to rule. The measure has divided California's Democratic leadership, with Gov. Gavin Newsom opposing it.

Why it matters

The wealth tax proposal has become a flashpoint in California politics, pitting progressives like Sanders against more moderate Democrats like Newsom. It highlights the growing debate over inequality and the role of the ultra-wealthy in society.

The details

The Billionaire Tax Act would levy a one-time 5% tax on the net worth of California's 200 billionaires to fund healthcare programs for middle-class and low-income residents. Sanders argued the measure would "lift up thousands of low-income Californians." However, Newsom and his advisers have criticized the proposal, saying it will not fix issues of affordability around healthcare and education and could drive businesses and capital out of the state.

  • Sanders joined the rally in Los Angeles on Tuesday, February 18, 2026.
  • Newsom expressed opposition to the wealth tax in an interview with The New York Times in early February 2026.

The players

Bernie Sanders

A U.S. Senator from Vermont and a prominent progressive voice who has long advocated for higher taxes on the wealthy.

Gavin Newsom

The Democratic Governor of California who has opposed the Billionaire Tax Act, arguing it could drive businesses and capital out of the state.

Mark Zuckerberg

The CEO of Meta (Facebook) who Sanders criticized as believing the billionaire class has a "divine right to rule."

Sergey Brin

The co-founder of Google who Sanders also criticized as part of the billionaire class that is "no longer subject" to democratic governance.

Brian Brokaw

A longtime adviser to Gov. Newsom who is leading a political committee opposing the Billionaire Tax Act.

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What they’re saying

“Enough is enough. The billionaire class cannot have it all. This nation belongs to all of us.”

— Bernie Sanders, U.S. Senator (The Associated Press)

“These billionaires are going to learn that we are still living in a democratic society where the people have some power.”

— Bernie Sanders, U.S. Senator (The Los Angeles Times)

“This will be defeated — there's no question in my mind. I'll do what I have to do to protect the state.”

— Gavin Newsom, Governor of California (The New York Times)

“In fact, they would be made worse.”

— Brian Brokaw, Newsom Adviser (The Associated Press)

What’s next

The Billionaire Tax Act still needs to collect 874,641 signatures before it can be put to a vote of California voters.

The takeaway

The debate over the Billionaire Tax Act highlights the growing divide between progressives and more moderate Democrats in California over how to address wealth inequality and the role of the ultra-wealthy. The outcome could have significant implications for the state's politics and policies going forward.