Bernie Sanders wants the super-rich like Elon Musk to send families up to $12,000
It seems Sen. Bernie Sanders, with fellow progressive Rep. Ro Khanna, D-Calif., wants Elon Musk to send you a check for $3,000.
Well, not directly. But Sanders and Khanna now have announced their not-likely-to-succeed plans in Republican-majority House and Senate votes for a tax on billionaires that actually allow them to send those checks to people making $150,000 or less.
Fox Business called in a “massive new tax proposal that seeks to seize trillions from the nation’s wealthiest individuals to fund a sweeping government spending spree.
The plan, called the “Make Billionaires Pay Their Fair Share Act” would tax 938 individuals, Elon Musk, Jeff Bezos included, costing them some $4.4 trillion over the next decade.
Sanders claims his idea is needed to fix a “corrupt tax code.” He claims it is the “bottom 90%” who are losing their wealth to the “top 1%.”
“At a time of unprecedented income and wealth inequality, this legislation demands that the billionaire class in America finally pay their fair share of taxes so that we can create an economy that works for all of us, not just the 1%,” he claimed. “We can no longer tolerate a corrupt tax code that enables billionaires to pay a lower tax rate than the average worker.”
Khanna joined in the arguments, with, “On one side, places like Silicon Valley are generating extreme wealth. On the other side, families are struggling to cover the cost of health care, housing, and basic needs. We can tax billionaires a modest amount to make sure everyone has a fair chance while keeping our innovative engine.”
The plan would impose a direct 5% annual wealth tax on assets, not just income, for those who own more than $ billion in assets.
They claim the income would be used for projects including “one-time $3,000 payments for individuals in households earning $150,000 or less, meaning a family of four could receive up to $12,000.”
The report noted $42 billion of the funding would come from Musk, $11 billion from Mark Zuckerberg, and $11 billion from Jeff Bezos.
While that would sound desirable to many, several experts warned of the consequences. EJ Antoni, a Heritage Foundation economist, and Unleash Prosperity co-founder Steve Moore cited the effects of such a move.
“To accept this revenue estimate as credible, you must believe that a 5% annual wealth tax on billionaires—on their investments and their closely-held businesses—will have no economic ramifications worth mentioning,” Tax Foundation senior fellow Jared Walczak said on social media.
Surprise! The Jeff Bezos-owned Washington Post is against my 5% billionaire wealth tax. I wonder why?
If enacted, Bezos would owe $12 billion in taxes, and an average family of 4 would receive a $12,000 direct payment.
Poor Jeff would be left with just $224 billion to survive. pic.twitter.com/BPjBMfol2h
— Sen. Bernie Sanders (@SenSanders) March 3, 2026
My 5% billionaire wealth tax will raise $4.4 trillion to:
Give $3,000 to everyone in a household making $150,000 or less
Build 7 million homes & apartments
Enact a $60,000 minimum teacher salary
Expand Medicare for dental, vision & hearing
And much more…
— Bernie Sanders (@BernieSanders) March 3, 2026
Today, while billionaires have never had it so good, 60% live paycheck to paycheck.
We can no longer tolerate a rigged system that lets billionaires pay a lower tax rate than average workers.
A tax on billionaires will help create an economy that works for all, not the 1%. https://t.co/Xgx6ICedAf
— Bernie Sanders (@BernieSanders) March 2, 2026
HYPOCRITE: Bernie Sanders, one of the TOP SUPPORTERS of the Green New Scam, has been exposed for spending over *$550,000* on private jets for himself in 2025 ALONE, per Fox
“Do as I say, not as I do!”
Bernie was seen taking luxury jets with AOC on MULTIPLE occasions, proving… pic.twitter.com/GldZFsUjpd
— Nick Sortor (@nicksortor) February 5, 2026