Sen. Bernie Sanders (I-Vt.) took a swing at Meta Platforms Inc. (META) CEO Mark Zuckerberg on Thursday, suggesting the tech mogul could face a hefty tax bill if California voters approve a proposed 5% billionaire wealth tax in November. The revenue, Sanders argues, could help preserve healthcare for 3 million low-income people.
The ballot measure would impose a one-time 5% tax on individuals with a net worth above $1 billion who were California residents as of Jan. 1, 2026. Supporters estimate it could raise around $100 billion to offset federal cuts to Medicaid and food assistance programs.
In a post on X, Sanders wrote, "If voters in California approve the 5% billionaire wealth tax in November, Mark Zuckerberg would owe $10.5 billion in taxes & healthcare would be saved for 3 million low-income people." He then added, with a touch of sarcasm, "Poor Mr. Zuckerberg would only have $200 billion left to feed his family. How will he survive?"
This isn't the first time Sanders has pushed for higher taxes on the ultra-wealthy. Earlier this year, he challenged Amazon.com Inc. (AMZN) founder Jeff Bezos to a debate over his proposed 5% billionaire wealth tax, arguing it could expand Medicare benefits, guarantee universal childcare, raise starting teacher pay, and provide $12,000 to a working family of four. Sanders noted that even after paying the tax, Bezos would still be worth $269 billion.
