Bernie Sanders rails against billionaire 'greed' amid California tax battle

In a fiery speech in Los Angeles, the Vermont senator criticizes ‘grotesque’ levels of economic inequality

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The independent Vermont senator railed against the “greed”, “arrogance” and “moral turpitude” of the nation’s “ruling class”, calling it “fairly disgusting” that some ultra-wealthy tech leaders have fled California – or are threatening to do so, if the proposed wealth tax becomes law.

“Never before have so few people had so much wealth and so much power,” Sanders thundered on stage at the Wiltern theater, where a raucous crowd of longtime supporters shouted “shame”.

Though the 84-year-old two-time presidential candidate has assailed the billionaire class for decades, his remarks on Wednesday were an exceptionally scathing – and at times personal – indictment of the top 1%. Comparing America’s highest earners to the oligarchs and monarchs of past centuries, he said the US billionaire elite “no longer sees itself as a part of American society”.

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Under the proposal, which has rattled wealthy Californians and split Democrats, residents worth more than $1bn would have to pay a one-time 5% tax on their assets to offset looming federal cuts to health care and support public education and state food assistance programs. California is home to more billionaires than any other state, and analysts say the tax would apply to about 200 residents.

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https://www.theguardian.com/us-news/2026/feb/19/bernie-sanders-rails-against-billionaire-greed-amid-california-tax-battle