Democrats’ wealth taxes are Trojan horses: Beware what lies inside
Democrats are advocating for wealth taxes in states like California, which some view as a deceptive strategy to redistribute wealth. Critics argue that these taxes could lead to significant economic consequences, including the exodus of wealthy individuals from the state. The proposals may start by targeting billionaires but could expand to affect a broader range of taxpayers over time.
- ▪California's proposed Billionaire Tax has garnered significant financial backing from the Service Employees International Union.
- ▪Critics warn that wealth taxes could lead to economic factionalism and may not remain limited to billionaires.
- ▪The California measure includes provisions that could lower the tax threshold and expand the assets subject to taxation.
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Opinion Democrats’ wealth taxes are Trojan horses: Beware what lies inside By Jonathan Turley Published May 17, 2026, 8:16 p.m. ET Democrats are proposing wealth taxes in California and other states, hoping to appeal to voters with the gift of other people’s money. But 3,210 years after the people of Troy famously learned not to accept gifts from Greeks, voters might want to look closely at these particular Trojan horses. Take California’s Billionaire Tax. The Service Employees International Union (SEIU) has reportedly spent $24 million to get the measure on the ballot, hoping that the tax will allow the state to support bloated contracts and pension deals. Far-left economists and politicians pretend that wealth taxes can avoid repeating the failures of past socialist parties.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at California Post.
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