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.”
The United States and Iran traded missile fire and accusations on Thursday as tensions in the Strait of Hormuz ratcheted up, threatening an already fragile cease-fire.
U.S. Central Command said that American forces had “intercepted unprovoked Iranian attacks and responded with self-defense strikes” while U.S. Navy guided-missile destroyers were traversing the strait to the Gulf of Oman on Thursday.
In a statement, Central Command said Iranian forces launched multiple missiles, drones and small-boat attacks as three U.S. warships were transiting the strait. None of the American naval vessels were hit, Central Command said.
The U.S. vessels that were traversing the strait were the U.S.S. Truxtun, the U.S.S. Rafael Peralta and the U.S.S. Mason. The warships had steamed into the Persian Gulf earlier in the week as part of the Navy’s short-lived effort to guide merchant ships stranded in the Persian Gulf through the strait.
In response, U.S. forces struck targets on Qeshm Island and Bandar Abbas along the Iranian coast in the strait, U.S. officials said.
It was the latest twist in a head-spinning week in the region, as President Trump, searching for an off-ramp in the war that he started Feb. 28, has contradicted his senior administration officials on the state of the war, the state of American efforts to reopen the Strait of Hormuz, and the status of peace talks with Iran.
After the exchange of fire on Thursday, the president said the cease-fire was still in effect and downplayed the Iranian attacks.
“They trifled with us today,” Mr. Trump told reporters late Thursday. “We blew them away.”
The president added, however, that Iran needed to sign on “fast” to a proposal from the United States that would have both sides reach an agreement to reopen the Strait of Hormuz and refrain from fighting for 30 days while they try to reach a comprehensive deal.
Even as the president and senior officials described peace negotiations that they said were advancing, Central Command has forcefully hit Iranian vessels that it says have violated an American-imposed blockade of the strait.
Central Command “eliminated inbound threats and targeted Iranian military facilities responsible for attacking U.S. forces, including missile and drone launch sites; command and control locations; and intelligence, surveillance and reconnaissance nodes,” the command’s Thursday statement said. It added that Central Command “does not seek escalation but remains positioned and ready to protect American forces.”
Iran, for its part, accused the United States of launching “unprovoked” attacks as the U.S. ships traversed the strait.
In a statement carried by state media, Iran’s armed forces said the U.S. military had violated the month-old cease-fire by carrying out airstrikes on Qeshm Island and two other cities on the country’s southern coast. Central Command said the ship attacks had emanated from those sites.
When asked if the U.S. response to the Iranian drone, missile and small-boat attacks went beyond self-defense, a senior U.S. military official said that an effective defense sometimes involves a carefully calibrated offense.
Erica L. Green contributed reporting.
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President Donald Trump praised White House Chief of Staff Susie Wiles as “winning it decisively” in her battle with cancer after she revealed she was diagnosed nine weeks ago while accepting a major award Thursday night.
“It’s been especially inspiring to see her courage and toughness in recent weeks, and she’s been winning a battle with cancer and winning it decisively,” Trump said in a pre-recorded video message. “It was an early diagnosis, so she’s going to be in great shape.”
Wiles said during an onstage conversation that she would continue to work following the diagnosis.
“I come to work every day. I do my job, I don’t complain, and I think that sets an example, too, for the people I work with,” Wiles said.
WH CHIEF OF STAFF SUSIE WILES DIAGNOSED WITH EARLY STAGE BREAST CANCER, PROGNOSIS ‘EXCELLENT,’ TRUMP SAYS
President Donald Trump hosts a lunch with Kennedy Center Board members as Chief of Staff Susie Wiles looks on at the White House in Washington, D.C., on March 16, 2026. (Annabelle GORDON / AFP via Getty Images)
Trump surprised Wiles with the video as she accepted the Independent Women’s Forum Barbara K. Olson Woman of Valor Award at a gala in Washington, D.C.
He praised her as “the first female chief of staff in American history” and “one of the best White House chiefs of staff ever in history.”
“I say the best, actually,” Trump said, adding that he was “tremendously grateful” for her “friendship, loyalty and support every single day.”
TRUMP CHIEF OF STAFF PLEDGES NO ‘DRAMA’ OR SECOND-GUESSING IN WHITE HOUSE
White House chief of staff Susie Wiles listens as President Donald Trump announces the creation of the U.S. strategic critical minerals reserve in the Oval Office of the White House on Feb. 2, 2026, in Washington, D.C. (Alex Wong/Getty Images)
Wiles said she did not know the video was intended for the gala, despite briefly walking in while Trump was recording it.
“I walked in when he was filming it, but I didn’t know what it was for, and I kind of ducked out the back door,” she said.
Trump credited Wiles with playing a key role in each of his presidential campaigns, “especially in 2024,” and said his administration’s accomplishments have come with “her help and her leadership.”
TRUMP CHIEF OF STAFF SUSIE WILES RECOUNTS BUTLER ASSASSINATION ATTEMPT, THOUGHT PRESIDENT WAS DEAD AT FIRST
President Donald Trump and White House Chief of Staff Susie Wiles participate in an Invest America roundtable in the State Dining Room of the White House in Washington, D.C., on Monday, June 9, 2025. (Yuri Gripas/Abaca/Bloomberg via Getty Images)
“Susie, we have a problem. I say go to Susie,” Trump said. “We owe her a tremendous debt and what she’s done is just incredible for our country.”
Wiles, who described herself as a lifelong Republican, said her decision to back Trump in 2016 was one of the biggest risks of her career.
“I wanted a disrupter,” Wiles said. “I looked around at the disrupters in the field and said, I think Donald Trump’s the one.”
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Asked about her role now, Wiles said, “This is the path God chose for me. And I’m here, and I’m doing the best I can every day.”
The gala was held Thursday at the Waldorf Astoria in Washington, D.C.
Fox News Digital’s Ashley Carnahan and Alex Nitzberg contributed to this reporting.
SACRAMENTO — Gov. Gavin Newsom said his administration is “moving forward aggressively” to continue laying the groundwork for a giant tunnel beneath the Sacramento-San Joaquin River Delta to replumb the state’s water system.
“We got to move faster. Move faster,” Newsom said to regulators during a speech Thursday at a conference held by the Assn. of California Water Agencies. “We all have to be held to a higher level of accountability.”
California’s 40th governor provided a chronological look back at his water policies since taking office in 2019 and asserted the need to continue his effort to modernize state infrastructure to provide for cities and farms into the future.
Newsom cast the tunnel as a “climate adaptation project,” noting that climate change is projected to shrink the amount of water the state can deliver with its current infrastructure.
With his term expiring at the end of the year, Newsom acknowledged that he will soon “pass the baton” on water policy to the next governor. Democrat or Republican, that person could decide the fate of his signature water project.
“The Delta Conveyance, if we had it last year alone, would have provided enough water, in terms of what we could have captured with an updated system, enough water for 9.8 million Californians’ needs for over a year,” Newsom said. “We’ve got to get that done.”
Water has been a focus of the Newsom administration since his first day in office, when the governor took his cabinet to Monterey Park Tract, a rural Central Valley community that lacked access to safe drinking water.
Described by Newsom as “the forever problem” in California, water policy is also among the most politically contentious issues in the state.
The tunnel would create a second route to transport water from new intakes on the Sacramento River to the south side of the Delta, where pumps send water into the aqueducts of the State Water Project.
The project is particularly acrimonious, drawing out geographical battles between north and south and thorny fights between officials who want to build the tunnel and environmentalists and Delta residents seeking to protect the local ecosystem and their way of life.
Newsom and other supporters have said the tunnel would protect the state’s water system as climate change intensifies severe droughts and deluges. Opponents call the project a costly boondoggle, arguing it’s not necessary and would destroy the Delta.
It’s been mired with regulatory hurdles and other challenges for years.
The State Water Resources Control Board is considering a petition by the Newsom administration to amend permits so water could be tapped where the tunnel intakes would be built.
There have also been other complications. A state appeals court in December rejected the state’s plan for financing the project, and the California Supreme Court in April declined to take up the case. The state Department of Water Resources said it still plans to issue bonds to finance the project.
Other court challenges by Delta-area counties and environmental groups are also pending.
Whether the project is ultimately built may hinge on whether large water agencies, including the Metropolitan Water District of Southern California, decide to participate and pay for its building.
State officials have said that the tunnel, called the Delta Conveyance Project, ultimately would be paid for by participating water agencies.
The state estimated in 2024 that the tunnel would cost $20.1 billion, while opponents say it could cost three to five times more than that.
In the last seven years, California has invested $11 billion in water infrastructure, Newsom said.
The Democratic governor reflected on other parts of his water policies, saying he has prioritized securing funds to provide clean drinking water to more communities where Californians live with contaminated tap water.
He said while there has been progress in bringing safe drinking water to more communities, there is still “a lot more work to be done.”
Newsom touted his administration’s investment in replenishing groundwater in the Central Valley and its efforts supporting plans to build the Sites Reservoir near Sacramento.
Newsom said the Sites Reservoir is critical for the state’s future, and he indicated some frustration about the pace at which it’s advancing.
“We’ve got to do the groundbreaking at Sites,” he said. “If you can’t agree to an off-stream investment in this world of weather whiplash, we’re as dumb as we want to be.”
He said his administration has also made progress on environmental projects including restoring wetlands around the shrinking Salton Sea, removing dams on the Klamath River, and developing a strategy to help salmon, which have suffered major declines in recent years.
Touching on issues that generate heated debate, Newsom talked about a controversial plan for new water rules in the Delta that relies on so-called voluntary agreements in which water agencies would contribute funding for wetland habitat restoration projects and other measures.
Newsom described the approach, called the Healthy Rivers and Landscapes program, as a solution to break away from the traditional conflict-ridden regulatory approach and improve the Delta’s ecological health.
“Got to maintain the vigilance on these voluntary agreements. At peril, we go back to our old ways,” he said.
Environmental advocates argue that the proposed approach, which is widely supported by water agencies, would take too much water out of the Delta and threaten native fish that are already in severe decline.
Newsom said climate change is increasingly driving “weather whiplash” in California and that the state must prepare. He noted that his tenure included the extreme drought from 2020-22, followed by extremely wet conditions in 2023, which revived Tulare Lake on thousands of acres of farmland.
He said the state needs to manage water differently because the effects of climate change have been apparent over the last several years: “The hots were getting a lot hotter, the dries were getting a lot drier, and the wets were getting a lot wetter.”
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