"Tom Steyer has built his campaign for governor of California around affordability and taxing the uber-wealthy. It is perhaps an unusual message for a candidate with an estimated net worth of $2.4bn. But the hedge fund founder-turned climate activist and liberal mega-donor is pitching himself as a different kind of billionaire: one who wants people like him to pay far more in taxes."
"People are very skeptical of billionaires, Steyer, wearing a beige baseball cap with the words class traitor embroidered on it, told a small group of reporters at a campaign event in East LA on Wednesday. I'm skeptical of billionaires because we've seen so many billionaires being selfish and arrogant."
"A survey conducted last year by the Harris Poll found that the share of Americans who said billionaires threaten American democracy rose to 53%, up 7 points from 2024. At the same time, nearly eight in 10 respondents said they were more likely to support a billionaire who challenges unjust systems."
"Since Donald Trump's return to office, millions have flocked to hear Senator Bernie Sanders excoriate the 1% on his cross-country Fighting Oligarchy tour. In New York, the city's new democratic socialist mayor, Zohran Mamdani, celebrated tax day by filming a video outside billionaire Ken Griffin's $238m Manhattan penthouse to promote a tax proposal on luxury second homes."
Tom Steyer runs for California governor on affordability and taxing the uber-wealthy, positioning himself as a billionaire who should pay much more in taxes. His campaign targets public skepticism toward billionaires, citing examples of billionaire selfishness and arrogance. The effort unfolds amid rising anti-elite populism, widening income inequality, and growing suspicion of billionaire influence across political parties. Polling shows more Americans believe billionaires threaten American democracy, while many also say they would support a billionaire who challenges unjust systems. Steyer’s message aligns with broader political energy from figures and movements attacking the 1% and promoting tax proposals aimed at wealthy elites.
Read at www.theguardian.com
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