California’s proposed “wealth tax” would punish success

On February 18, Bernie Sanders spoke to a crowd at The Wiltern in Los Angeles and called out Sergey Brin, Mark Zuckerberg, and other billionaire California residents. Not for anything they’ve done wrong, but for being good at their job and generating billions of dollars with their companies.

The Senator from Vermont came all the way to California to campaign for the proposed billionaire tax, an initiative that would impose a one-time 5% tax on the net worth of Californians with wealth exceeding $1 billion.