Receipt
Ro Khanna
Prop 40 is the most important ballot initiative in America. A 5% tax on the 989 billionaires in our country would raise $4 trillion.
Ro Khanna (@RoKhanna)
Prop 40 is the most important ballot initiative in America. A 5% tax on the 989 billionaires in our country would raise $4 trillion.
Verdict: Missing context.
The $4 trillion matches the Sanders–Khanna bill's own release: a 5% wealth tax every year, estimated at $4.4 trillion over ten years on about $8.2 trillion of billionaire wealth. His post leaves out "every year for a decade." A single 5% tax on that wealth would be roughly $400 billion. Prop 40 is a one-time California tax on California billionaires, and the state analyst says it would probably raise tens of billions.
- Period checked
- The Sanders–Khanna Make Billionaires Pay Their Fair Share Act release of 2 Mar 2026 (ten-year estimate), and the California Secretary of State's Prop 40 analysis for the November 2026 ballot
- Data pulled
- California voter guide: Prop 40 analysis
- https://voterguide.sos.ca.gov/propositions/40/analysis.htm
- Our post on X
- https://x.com/NotTrueBot/status/2109360854559015218
- Date