Ro Khanna Says US Economy ‘Works For Capital First And Workers Last,’ Calls For Higher Billionaire Taxes To Fund Public Services

Rep. Ro Khanna (D-Calif.) said the U.S. economy prioritizes capital over workers and called for higher taxes on billionaires to redirect wealth toward public services, including health care, child care and education.

Wealth Vs. Workers

On Monday, Khanna posted on X while sharing a clip from MSNBC Now featuring Graham Platner.

He wrote, “We built an economy that works for capital first and workers last. Let us build an economy that works for those who work.”

In the interview, Platner pushed back on claims from Amazon.com Inc (NASDAQ:AMZN) founder Jeff Bezos that raising taxes on billionaires would not benefit Americans.

He called that argument “abject nonsense,” and said it reflects the interests of those opposing tax increases.

Platner said wealth has been “hoarded” for decades and argued that redirecting it into public services such as health care, child care and teacher pay would improve living standards.

He added that Bezos’ view was “propaganda. It’s meant to protect himself and protect his crony friends.”

Billionaire Tax Debate

Last week, Sen. Bernie Sanders (I-Vt.) said a proposed 5% wealth tax on billionaires like Bezos could fund major social programs, including cash payments for families, expanded Medicare benefits, universal childcare, and higher teacher pay, while leaving the ultra-wealthy still extremely rich.

Earlier, Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk defended his tax record, saying he had paid over $10 billion in a single year and would likely face significant lifetime taxation, including high rates on stock options and potential estate taxes.

Separately, Jim Cramer supported Sen. Elizabeth Warren’s (D-Mass.) proposal for higher Social Security contributions from billionaires such as Musk and Bezos, saying the idea was sound even if it diverged from the system’s original design.

Warren has argued that billionaires are not paying their fair share compared to wage earners.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image via Shutterstock