Self-described “progressive capitalist” Rep. Ro Khanna (D-CA) defended taxing California billionaires via Proposition 40 by saying, “You didn’t build this money yourself.”
\n\nKhanna defended a “wealth tax” on California’s 200-plus billionaires during a Monday interview on a podcast called Conversate with Killer Mike. The line of questioning centered around a referendum going before California voters this election cycle called Proposition 40, which, if passed, would levy a one-time, 5 percent tax on billionaires. The measure would be the first tax in the nation on the assets of the extremely wealthy and would supposedly be funneled toward the state’s healthcare system.
\n\nThe measure has garnered a massive amount of pushback, even from many Democrats, including California Gov. Gavin Newsom, who warn the measure could backfire and drive wealth from the state. Two other referendums, Proposition 41 and Proposition 42, will also be on the ballot and would cancel out Proposition 40 if they receive more votes. Proposition 41 would require audits of new tax programs, and Proposition 42 would ban new state personal property taxes and certain retroactive state taxes.
\n\nPodcast host and rapper Killer Mike asked Khanna, an Indian American, how he responds to concerns about more taxes from people…
Original source: https://www.breitbart.com/economy/
