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J.D. Tuccille: The progressive plan to loot Silicon Valley keeps getting worse

Rep. Ro Khanna (D-CA) has an idea for promoting his pet wealth tax. To prosperous Californians who say their wealth is tied up in businesses that create value but don’t offer a lot of liquid cash to pay massive tax bills, the progressive politician responds that the government could loan them the money secured by pledges of corporate stock. That sparked a dispute with entrepreneur Mark Cuban who argues that it sounds more like a plan for creeping nationalization than for raising revenue.

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At a time when socialists are on the rise in the Democratic Party, that’s very likely what it is.

J.D. Tuccille: The progressive plan to loot Silicon Valley keeps getting worse Back to video

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“The California Democratic Party and the California labor movement just stood with @BernieSanders and me in supporting 5% wealth tax on 250 California billionaires,” Khanna posted on X on Aug. 15. “California voters want a Democratic Party that will stand up for the working class over the billionaire class.”

Even before Californians vote on the wealth tax........

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