Ro Khanna Defends Billionaire Tax, Says Critics Are 'Glossing Over Silicon Valley History' As Peter Thiel, Others Threaten To Leave
Strong Bullish
83.8
Rep. Ro Khanna (D-Calif.) has stood firm in his support for a billionaire tax, despite threats from some of the state’s wealthiest residents to leave if the tax is implemented.
Khanna Defends Billionaire Tax
Khanna took to X to defend his stance on the billionaire tax, which would tax California residents whose net worth exceeds $1 billion at up to 5% of their assets. Those with at least $20 billion in assets as of Jan. 1, 2026, would face a one-time tax of $1 billion.
He noted that within a 50-mile radius, his district alone accounts for nearly one-third of the U.S. stock market, with five companies having a market capitalization of more than $1 trillion.
Khanna argued that the tax would not deter future innovation in Silicon Valley, citing the region’s rich history of fostering tech gian
Khanna Defends Billionaire Tax
Khanna took to X to defend his stance on the billionaire tax, which would tax California residents whose net worth exceeds $1 billion at up to 5% of their assets. Those with at least $20 billion in assets as of Jan. 1, 2026, would face a one-time tax of $1 billion.
He noted that within a 50-mile radius, his district alone accounts for nearly one-third of the U.S. stock market, with five companies having a market capitalization of more than $1 trillion.
Khanna argued that the tax would not deter future innovation in Silicon Valley, citing the region’s rich history of fostering tech gian
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