Politics
Bernie Sanders kicks off billionaires tax campaign with choice words for the ‘oligarchs’
Populist Sen. Bernie Sanders on Wednesday formally kicked off the campaign to place a billionaires tax on the November ballot, framing the proposal as something larger than a debate about economic and tax policy as he appeared at a storied Los Angeles venue.
“The billionaire class no longer sees itself as part of American society. They see themselves as something separate and apart, like the oligarchs,” he told about 2,000 people at the Wiltern. The independent senator from Vermont compared them to kings, queens and czars of yore who believed they had a divine right to rule.
These billionaires “have created huge businesses with revolutionary technologies like AI and robotics that are literally transforming the face of the Earth,” he said, “and they are saying to you and to everybody in America, who the hell do you think you are telling us what we — the ruling elite, the millionaires, the billionaires, the richest people on Earth — who do you think you are telling us what we can do or not?”
California voters can show the billionaires “that we are still living in a democratic society where the people have some power,” Sanders said.
The senator is promoting a labor union’s proposal to impose a one-time 5% tax on the assets of California billionaires and trusts to backfill federal healthcare funding cuts by the Trump administration. Supporters of the contentious effort began gathering voter signatures to place the measure on the November ballot earlier this year. Sanders previously endorsed the proposal on social media and in public statements, and said he would seek to create a national version of the wealth tax.
But Wednesday’s event, a rally that lasted more than two hours and featured a lengthy performance by Rage Against the Machine guitarist Tom Morello, was framed as the formal launch of the campaign.
“Some people are free to choose between five-star restaurants, while others choose which dumpster will provide their next meal,” Morello said. “Some are free to choose between penthouse suites, while others are free to choose in which gutter to lay their heads.”
The guitarist’s comments came amid a set that included Rage’s protest song “Killing in the Name” and Bruce Springsteen’s social justice ballad “The Ghost of Tom Joad.”
“The people who’ve changed the world in progressive, radical or even revolutionary ways,” Morello said, “did not have any more money, power, courage, intelligence or creativity than anyone here tonight.”
Milling about outside the Wiltern, a historic Art Deco venue, were workers being paid $10 per signature they gathered to help qualify the proposal for the November ballot. Inside, attendees heard from labor leaders, healthcare workers and others whose lives are being affected by federal funding cuts to healthcare.
Lisandro Preza said he was speaking not only only as a leader of Unite Here Local 11, which represents more than 32,000 hospitality workers, but also as someone who has AIDS and recently lost his medical coverage.
“For me, this fight is very personal. Without my health coverage, the thought of going to the emergency room is terrifying,” he said. “That injection I rely on costs nearly $10,000 a month. That shot keeps my disease under control. Without it, my health, my life, are at risk, and I’m not alone. Millions of Americans are facing the same after massive federal healthcare cuts are putting our hospitals on the brink of collapse.”
Sanders, who punctuated his remarks with historic statistics about wealth in the United States and anecdotes about billionaires’ purchases of multiple yachts and planes, tied the impending healthcare cuts to broader problems of growing income and wealth inequality; the consolidation of corporate ownership, including over media outlets; the decline in workers’ wages despite increased productivity; and the threats to the job market of artificial intelligence and automation. He said all these issues were grounded in the greed of the nation’s wealthiest residents.
“For these people, enough is never enough,” he said. “They are dedicated to accumulating more and more wealth and power … no matter how many low-income and working-class people will die because they no longer have health insurance.”
“Shame! Shame!” the audience screamed.
In addition to the wealth tax event, Sanders also plans to use his time in California to meet with tech leaders and speak on Friday at Stanford University about the effects of artificial intelligence and automation on American workers alongside Rep. Ro Khanna (D-Fremont).
Millions of California voters deeply support the Vermont senator, who won the state’s 2020 Democratic presidential primary over Joe Biden by eight points, and narrowly lost the 2016 Democratic primary to Hillary Clinton.
Sanders were the first presidential candidate Elle Parker, 30, ever cast a ballot for in a presidential election.
“He’s inspired me,” said the podcaster, who lives in East Hollywood. “I just love the way he uses his words to inspire us all.”
Supporters proposed the wealth tax to make up for the massive federal funding cuts to healthcare that Trump signed last year. The California Budget & Policy Center estimates that as many as 3.4 million Californians could lose Medi-Cal coverage, rural hospitals could shutter, and other healthcare services would be slashed unless a new funding source is found.
But the tax proposal is controversial, creating a notable schism among the state’s Democrats because of concerns that it will prompt an exodus of the state’s wealthy, who are the major source of revenue that buttresses California’s volatile budget.
Gov. Gavin Newsom is among the Democrats who oppose it, as is San Jose Mayor Matt Mahan, who is among the dozen candidates running to replace the termed-out governor.
Mahan argued that the proposal had already hurt the state’s finances by driving economic investment and tax revenue out of California to tax-friendly environs.
“We need ideas that are sound, not just political proposals that sound good,” he said. “The answer is to close the federal tax loopholes the ultra-wealthy use to escape paying their fair share and invest those funds in paying down our debt, rebuilding our infrastructure, and protecting our most vulnerable families from skyrocketing healthcare premiums. The only winners in this proposal are the workers and taxpayers of Florida and Texas, who will take our jobs and benefit from the capital and tax revenue California is losing.”
A group affiliated with the governor plans to run digital ads opposing the proposal featuring Newsom along with other politicians on both sides of the aisle, as first reported by the New York Times.
The proposal has received more expected and unified backlash from the state’s conservatives and business leaders, who have launched ballot measures that could nullify part if not all of the proposed wealth tax. This is dependent on which, if any, of the measures qualify for the ballot — the number of votes each receives in November compared to the labor effort.
Silicon Valley billionaires, notably PayPal co-founder Peter Thiel and venture capitalist David Sacks — both major Trump supporters — announced they had already decamped California because of the effort.
Rob Lapsley, president of California Business Round Table, added that if the wealth tax is approved, it would destroy the state’s innovation economy, destabilize tax revenue and ultimately result in all Californians paying higher taxes.
“Let’s be clear — this $100-billion tax increase isn’t just a swipe at California’s most successful entrepreneurs; it’s a tax no one can afford because it weakens the entire economic ecosystem that supports jobs, investment, wages, and public services for everyday Californians,” he said. “When high earners leave, the cost doesn’t vanish — it lands on everyone through fewer jobs, less investment, and a weaker tax base — a recipe for new and higher taxes for everyone.”
Politics
Video: U.S. ‘Accelerating’ Military Assault in Iran, Hegseth Says
new video loaded: U.S. ‘Accelerating’ Military Assault in Iran, Hegseth Says
By Christina Kelso
March 4, 2026
Politics
US submarine sinks Iranian warship by torpedo in a first since World War II
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A U.S. submarine sank a prized Iranian warship by torpedo, the first such sinking of an enemy ship since World War II, Secretary of War Pete Hegseth said Wednesday morning.
Hegseth joined Chairman of the Joint Chiefs of Staff Gen. Dan Caine at the Pentagon to provide an update to reporters on “Operation Epic Fury” in Iran.
“An American submarine sunk an Iranian warship that thought it was safe in international waters,” Hegseth said. “Instead, it was sunk by a torpedo. Quiet death. The first sinking of an enemy ship by a torpedo since World War Two. Like in that war, back when we were still the War Department. We are fighting to win.”
Caine said that an Iranian vessel was “effectively neutralized” in a Navy “fast attack” using a single Mark 48 torpedo. He added that the U.S. Navy achieved “immediate effect, sending the warship to the bottom of the sea.”
WATCH HEGSETH’S ANNOUNCEMENT:
Hegseth said that the U.S. Navy sank the Iranian warship, the Soleimani. The flagship was named for Qasem Soleimani, an Iranian military officer who served in the Islamic Revolutionary Guard Corps who the U.S. killed in a January 2020 drone strike during President Donald Trump’s first term.
“The Iranian Navy rests at the bottom of the Persian Gulf. Combat ineffective, decimated, destroyed, defeated. Pick your adjective,” Hegseth said. “In fact, last night we sunk their prize ship, the Soleimani. Looks like POTUS got him twice. Their navy, not a factor. Pick your adjective. It is no more.”
This map shows U.S. and Israeli strikes against Iranian naval forces as of March 1. (Fox News)
Hegseth also told reporters at the briefing that the U.S. and Israel will soon achieve “complete control” over Iranian airspace after Iran’s missile capabilities were drastically diminished in the four days of fighting.
US ‘WINNING DECISIVELY’ AGAINST IRAN, WILL ACHIEVE ‘COMPLETE CONTROL’ OF AIRSPACE WITHIN DAYS, HEGSETH SAYS
“More bombers and more fighters are arriving just today and now, with complete control of the skies, we will be using 500 pound, one thousand pound and 2,000 pound laser-guided precision gravity bombs, of which we have a nearly unlimited stockpile,” he said.
The war has killed more than 1,000 people in Iran and dozens in Lebanon, while U.S. officials said six American troops were killed in a fatal drone strike in Kuwait.
Thousands of travelers have been left stranded across the Middle East.
This map shows security and travel updates for Americans regarding countries in the Middle East region. (Fox News)
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Caine told reporters that the U.S. military is helping thousands of Americans stranded in the Middle East after the U.S. State Department urged citizens to leave more than a dozen countries.
Fox News Digital’s Ashley Carnahan contributed to this report.
Politics
Sen. Padilla preps for Trump trying to seize control of elections via emergency order
Sen. Alex Padilla (D-Calif.) is preparing for President Trump to declare a national emergency in order to seize control of this year’s midterm elections from the states, including by bracing his Senate colleagues for a vote in which they would be forced to either co-sign on the power grab or resist it.
In the wake of reporting last week that conservative activists with connections to the White House were circulating such an order, Padilla sent a letter to his Senate colleagues Friday stating that any such order would be “wildly illegal and unconstitutional,” and would no doubt face “extremely strict scrutiny” in the courts.
“Nevertheless, if the President does escalate his unprecedented assault on our democracy by declaring an election-related emergency, I will swiftly introduce a privileged resolution [and] force a vote in the Senate to terminate the fake emergency,” wrote Padilla, the ranking Democrat on the Senate Committee on Rules and Administration.
Padilla wrote that such an order — which could possibly “include banning mail-in voting, eliminating major voting registration methods, voter purges, and/or new document barriers for registering to vote and voting” — would clearly go beyond Trump’s authority.
“Put simply, no President has the power under the Constitution or any law to take over elections, and no declaration or order can create one out of thin air,” Padilla wrote.
The same day Padilla sent his letter, Trump was asked whether he was considering declaring a national emergency around the midterms. “Who told you that?” he asked — before saying he was not considering such an order.
The White House referred The Times to that exchange when asked Tuesday for comment on Padilla’s letter.
If Trump did declare such an emergency, a “privileged resolution,” as Padilla proposed, would require the full Senate to vote on the record on whether or not to terminate it — forcing any Senate allies of the president to own the policy politically, along with him.
Experts say there is no evidence that U.S. elections are significantly affected or swung by widespread fraud or foreign interference, despite robust efforts by Trump and his allies for years to find it.
Nonetheless, Trump has been emphatic that such fraud is occurring, particularly in blue states such as California that allow for mail-in ballots and do not have strict voter ID laws. He and others in his administration have asserted, again without evidence, that large numbers of noncitizen residents are casting votes and that others are “harvesting” ballots out of the mail and filling them out in bulk.
Soon after taking office, Trump issued an executive order purporting to require voters to show proof of U.S. citizenship before registering and barring the counting of mail-in ballots received after election day, but it was largely blocked by the courts.
Trump’s loyalist Justice Department sued red and blue states across the country for their full voter rolls, but those efforts also have largely been blocked, including in California. The FBI also raided an elections office in Georgia that has been the focus of Trump’s baseless claims that the 2020 presidential election was stolen from him.
Trump is also pushing for the passage of the SAVE Act, a voter ID bill passed by the House, but it has stalled in the Senate.
In recent weeks, Trump has expressed frustration that his demands around voting security have not translated into changes in blue state policies ahead of the upcoming midterm elections, where his shrinking approval could translate into major gains for Democrats.
Last month, Trump wrote on his Truth Social platform, “I have searched the depths of Legal Arguments not yet articulated or vetted on this subject, and will be presenting an irrefutable one in the very near future. There will be Voter I.D. for the Midterm Elections, whether approved by Congress or not!”
Then, last week, the Washington Post reported that a draft executive order being circulated by activists with ties to Trump suggests that unproven claims of Chinese interference in the 2020 election could be used as a pretext to declare an elections emergency granting Trump sweeping authority to unilaterally institute the changes he wants to see in state-run elections.
Election experts said the Constitution is clear that states control and run elections, not with the executive branch.
Democrats have widely denounced any federal takeover of elections by Trump. And some Republicans have expressed similar concerns, including Sen. Mitch McConnell (R-Ky.), who chairs the Senate rules committee.
In the Wall Street Journal last year, McConnell warned against Trump or any Republican president asserting sweeping authority to control elections, in part because Democrats would then be empowered to claim similar authority if and when they retake power.
McConnell’s office referred The Times to that Journal opinion piece when asked about the circulating emergency order and Padilla’s resolution.
Padilla’s office said his resolution would be introduced in response to an emergency declaration by Trump, but hoped it wouldn’t be necessary.
“Instead of trying to evade accountability at the ballot box,” Padilla wrote, “the President should focus on the needs of Americans struggling to pay for groceries, health care, housing and other everyday needs and put these illegal and unconstitutional election orders in the trash can where they belong.”
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