Bernie’s Billionaire Tax: Paying Off America One Musk at a Time
KEY POINTS
- •Senator Bernie Sanders and Representative Ro Khanna introduced a 5% annual tax on America’s 938 billionaires this Monday.
- •The tax aims to generate $4.4 trillion over ten years to fund $3,000 payments to households making under $150,000 plus expand Medicare benefits.
- •Elon Musk would owe $42 billion in taxes the first year, but the proposal faces slim chances in a GOP-controlled Congress.
Senator Bernie Sanders and Rep. Ro Khanna gleefully announced their brilliant plan to hit America’s 938 billionaires with a 5% yearly wealth tax starting 2026. Their goal? To rake in an eye-watering $4.4 trillion over ten years, possibly causing Elon Musk to dig $42 billion out of his Tesla-filled pockets in just the first year. The cash isn’t just disappearing into a void; it buys $3,000 checks for households making under $150,000—so a family of four could get $12,000, presumably to offset billionaires moving to friendlier tax states. Plus, it promises dental and hearing care for seniors and a $60,000 minimum for teachers, unlike billionaire relocation deals which get negotiated much quicker.
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Sanders wants billionaires to cough up trillions for $3,000 checks—because nothing says fairness like Elon Musk crying over a tax bill bigger than most economies.
Billionaires losing 5% yearly? That’s basically their version of a budget haircut, while the rest of us get $3,000 and a side of affordable housing promises.
Imagine announcing a tax plan, pegging Elon Musk at $42 billion due, then watching billionaires relocate faster than you can say 'tax avoidance'.
Source: Businessinsider | Published: 3/2/2026 | Author: Bryan Metzger
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