Here & Now Anytime Could a tax on billionaires solve California's inequality crisis?
Dec 10, 2025
Join Matt Viser, the White House bureau chief at The Washington Post, who gives intriguing insights from a recent Trump rally, highlighting mixed messages on affordability. Alongside Christina Llewellyn, a tax policy expert from North Carolina State University, they delve into California's proposed billionaire tax. They explore the complexities of taxing wealth, the potential pros and cons, and the risk of billionaires relocating. Their lively debate covers the feasibility, equity, and historical context of wealth taxes, making for a thought-provoking conversation.
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On-the-Ground Cost-Of-Living Scene
- Matt Viser describes visiting a grocery store and casino where people were 'counting their pennies' while attending a Trump rally.
- He contrasts these voters' struggles with political messaging about rising 401(k)s and the stock market.
Wealth Tax Targets Ownership Not Income
- A wealth tax targets what billionaires own rather than what they earn, aiming to reduce extreme inequality.
- Christina Llewellyn explains this could raise substantial revenue for public services like health care and education.
Salary vs Paper Wealth Example
- Christina Llewellyn contrasts LeBron James' taxed salary with Mark Zuckerberg's $1 salary to show how wealth can be untaxed on paper.
- She notes Zuckerberg's vast net worth would produce large revenue under a 5% wealth tax, yet he's not cash-rich in salaries.