# We must tax the wealth of billionaires, not just income. California can lead the way | Ro Khanna

- Source: Guardian Business
- Published: 2026-10-19T10:00:05+00:00
- Category: Local
- Original: https://www.theguardian.com/commentisfree/2026/oct/19/tax-wealth-billionaires-income-california
- Canonical: https://groundlevelnews.com/story/we-must-tax-the-wealth-of-billionaires-not-just-income-california-can--19d762/

Will California stand with the working class or the oligarchs in the vote this November? The Democratic party has a choice to make. Are we going to be New Deal Democrats or corporate Democrats? Are we standing with the working class or the tech oligarchs? Proposition 40, California’s billionaire tax, is the most important ballot initiative in America and a fight for the soul of our party. Rohit Kh

_Ground Level News shows a short summary only; the full article and all rights belong to Guardian Business._