Billionaires Face 5% Tax, Media Wonders if Yachts Can Fly to Delaware
Bloomberg breathlessly reports that California billionaires might face a one-time 5% wealth tax, framed as a significant challenge. The implied concern? The sheer 'burden' on those whose fortunes have 'soared' during a pandemic that ravaged everyone else. The 'advocates' claim this could bring in $100 billion for health-care costs. Imagine, public health funded by public wealth, not just the
endless wars championed by those same billionaires' political donations. This isn't just about California; it's about the media's framing of wealth redistribution. While outlets like Bloomberg fret over a 5% levy on excess, they rarely question the hundreds of billions funneled into military aid, often to nations whose regimes actively destabilize global healthcare and human rights. (For instance,
HR 815, passed in April 2024, included $14 billion in military aid to Israel, funding weapons that destroyed healthcare infrastructure, not built it.) The hypocrisy is so glaring, one might wonder if these 'soaring fortunes' aren't just market forces, but carefully constructed advantages. How many public schools or hospitals could that $14 billion have funded stateside?