Billionaire Tax and $30 Minimum Wage Gain Momentum Across US

Majority of California voters support taxing state's billionaires, as $30 minimum wage movement spreads nationwide

Mar. 30, 2026 at 9:07pm

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An abstract illustration featuring bold geometric shapes in primary colors, conceptually representing the need for billionaires to pay their fair share.Geometric shapes and colors illustrate the growing public demand for billionaires to contribute more to address economic inequality.Los Angeles Today

A new UC Berkeley poll shows that 52% of California's registered voters support a proposed one-time 5% tax on the net worth of the state's roughly 200 billionaires, while a separate federal 'Make Billionaires Pay Their Fair Share Act' has been proposed by Sen. Bernie Sanders and Rep. Ro Khanna. Meanwhile, a $30-an-hour minimum wage campaign is gaining steam across the country, with bills introduced in several states and cities.

Why it matters

These proposals reflect growing public sentiment that the wealthiest individuals and corporations should contribute more to address issues like healthcare, education, and income inequality. As federal social programs face potential cuts, these measures aim to generate revenue from the country's billionaires to fund critical public services and support working families.

The details

The California Billionaire Tax Act, filed by the SEIU-United Healthcare Workers West union, would impose a one-time, 5% levy on the worldwide net worth of any California resident worth more than $1 billion as of January 1, 2026. The revenue, projected at $100 billion over five years, would go primarily to healthcare, with the rest going to education and food assistance. The federal 'Make Billionaires Pay Their Fair Share Act' proposed by Sanders and Khanna would establish a similar 5% annual wealth tax on individuals worth $1 billion or more, with the funds used for one-time $3,000 checks for households earning under $150,000, as well as increased Medicaid/ACA funding, childcare cost caps, and higher teacher salaries. Meanwhile, the $30 minimum wage movement, co-led by advocacy group One Fair Wage, has introduced bills in several states and cities, arguing the current $7.25 federal minimum is insufficient to cover the cost of living.

  • The California Billionaire Tax Act ballot initiative needs nearly 875,000 valid signatures by June 24, 2026 to reach the November ballot.
  • The federal 'Make Billionaires Pay Their Fair Share Act' was proposed in 2026 by Sen. Bernie Sanders and Rep. Ro Khanna.

The players

SEIU-United Healthcare Workers West

A union representing 120,000 healthcare workers in California that filed the California Billionaire Tax Act ballot initiative.

Emmanuel Saez

A UC Berkeley economist who calculated that American billionaires currently pay just 1.3% of their wealth in taxes, down from 3.1% under President Ronald Reagan.

Sen. Bernie Sanders

The Vermont Independent senator who co-proposed the federal 'Make Billionaires Pay Their Fair Share Act'.

Rep. Ro Khanna

The California Democratic representative who co-proposed the federal 'Make Billionaires Pay Their Fair Share Act'.

Saru Jayaraman

The president of advocacy group One Fair Wage, which is co-leading the $30 minimum wage campaign.

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What they’re saying

“We see these two things in California go hand in hand. There are two parts to the same plan. Billionaires should pay tax like everybody else to help contribute to society, and they should pay their employees, whose labor they profit from, enough to survive.”

— Saru Jayaraman, President, One Fair Wage

“Right now, billionaires are paying nothing. They should pay their fair share.”

— Saru Jayaraman, President, One Fair Wage

What’s next

The California Billionaire Tax Act still needs to gather nearly 875,000 valid signatures by June 24, 2026 to reach the November ballot. The federal 'Make Billionaires Pay Their Fair Share Act' proposed by Sanders and Khanna will need to go through the legislative process in Congress.

The takeaway

These proposals to tax billionaires and raise the minimum wage reflect a growing public sentiment that the wealthiest individuals and corporations should contribute more to address issues like healthcare, education, and income inequality. As federal social programs face potential cuts, these measures aim to generate revenue from the country's billionaires to fund critical public services and support working families.