Khanna reveals the billionaire tax is just the beginning

Rep.Ro Khanna (D-Calif.) just moved to outbid his Democratic colleagues in the presidential auction.

With the radical left sweeping away establishment figures in favor of socialists, various prospective presidential candidates are offering up key institutions in their effort to appease the mob.The Supreme Court has been the starting bid. Kamala Harris, Pete Buttigieg and Josh Shapiro have yielded to the mob and embraced court packing.Khanna is not to be outdone.After his disastrous campaigning for Graham Platner, Khanna is returning to a sure winner: Class warfare.Last week, Khanna confirmed that the “billionaire tax” is just the start and that they will go on to target the wealth of other citizens as an untapped resource of new revenue.For years, some of us have warned that the billionaire tax was a ruse.

Sponsors like Sen.Elizabeth Warren and Khanna were using billionaires as an easy political target, but they were unlikely to stop there.The challenge is to get the tax through the courts, which is why it is so essential to pack the court.

Warren notably was an early advocate of both changes.I discuss the tax in my book “Rage and the Republic” as an example of the “eat-the-rich” politics used by demagogues from ancient Athens to the French Revolution.Politicians seek to divide a population into “haves” and “have-nots” with the promise that citizens could have it all if only they are given back power.Warren tried to use the tax to restart her moribund 2020 presidential campaign.

During one debate, she dramatically told the rich she was coming after “your Rembrandts, your stock portfolio, your diamonds and your yachts.” She thrilled the crowd by greedily rubbing her hands together after saying she would take some of the wealth of fellow candidate John Delaney, a self-made millionaire.The problem is that a federal billionaire tax (which is distinct from California’s billionaire tax that will be on the upcoming state ballot) is, in my...