{"id":2626529,"date":"2026-07-08T09:37:54","date_gmt":"2026-07-08T13:37:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-want-to-eliminate-the-wealthy-so-they-can-control-everyone-else\/"},"modified":"2026-07-08T09:41:15","modified_gmt":"2026-07-08T13:41:15","slug":"democrats-want-to-eliminate-the-wealthy-so-they-can-control-everyone-else","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-want-to-eliminate-the-wealthy-so-they-can-control-everyone-else\/","title":{"rendered":"Democrats Want To Eliminate The Wealthy So They Can Control Everyone Else"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdemocrats-want-to-eliminate-the-wealthy-so-they-can-control-everyone-else%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2626529&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>California Democrats have proposed a one-time wealth tax targeting its billionaires, a move supported by prominent left-wing leaders.Despite California&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/young-people-should-get-involved-in-politics-cant-wait-in-line-rep-cawthorn\/\" title=\"Young People Should Get Involved in Politics, Can\u2019t \u2018Wait in Line:\u2019 Rep. Cawthorn\">high tax rates<\/a> and significant <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/census-u-s-population-hits-331-9m-driven-mostly-by-legal-immigration\/\" title=\"Census: U.S. Population Hits 331.9M, Driven Mostly by Legal Immigration\">net domestic migration<\/a>, opponents argue this tax could drive wealthy individuals out of the state.The article criticizes the broader tendency among Democrats to view wealth redistribution as a simple solution to societal issues, highlighting that such interventions may actually weaken individual freedoms and empower government over citizens.It emphasizes that many wealthy Americans are vital to innovation, job creation, and supporting causes that challenge the status quo, suggesting that attacking billionaires often serves to increase government and elite control rather than fostering genuine prosperity. the piece warns against viewing the wealthy as enemies, advocating instead for a balanced approach where their contributions are recognized without unnecessary valorization or hostility. Ultimately, it argues that efforts to eliminate billionaires could harm the economy and reduce personal freedoms, benefiting a small political and academic elite at the expense of the wider public.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>California Democrats, supported by prominent left-wing leaders across the country, have <a href=\"https:\/\/www.washingtonpost.com\/nation\/2026\/06\/25\/california-billionaire-tax-headed-ballot-despite-top-democrats-opposition\/\" target=\"_blank\" rel=\"noreferrer noopener\">proposed a ballot measure<\/a> for a \u201cone-time wealth tax\u201d on the Golden State\u2019s billionaires. California is already in the top ten states for per capita taxes, with a <a href=\"https:\/\/usafacts.org\/answers\/what-states-are-people-moving-to-and-from\/state\/california\/\" type=\"link\" id=\"https:\/\/usafacts.org\/answers\/what-states-are-people-moving-to-and-from\/state\/california\/\" target=\"_blank\" rel=\"noreferrer noopener\">net domestic migration<\/a> of about two million residents since 2016. More than 250 billionaires live there, who collectively possess more than $2 trillion. Democrats in favor of the tax see a $100 billion windfall to shore up medical spending. But skeptics see a good reason for billionaires to flee the Left Coast for more pro-business destinations.<\/p>\n<p>If only Democrats in California were an outlier in\u00a0fiscally disastrous ideas. But no. Apparently, they all suffer fever dreams of America\u2019s wealthy swimming in gold like Scrooge McDuck.<\/p>\n<p>Voices across the Left seem to think that solving America\u2019s problems is as simple as transferring wealth from a few bank accounts to many. Yet such state intervention would not only accomplish the opposite, but empower government to control (and impoverish) ordinary citizens.<\/p>\n<h2><strong>Complaints About The Wealthy Are A Bait and Switch<\/strong><\/h2>\n<p>Granted, there are natural reasons for everyday Americans to bristle at hearing stories of billionaires and trillionaires. The tales of excess and unimaginable wealth is\u00a0far removed from the experience of the average worker, whose median income is <a href=\"https:\/\/www.bls.gov\/news.release\" target=\"_blank\" rel=\"noreferrer noopener\">around $65,000 a year<\/a>.<\/p>\n<p>The uber-wealthy don\u2019t have to worry about changes in grocery or gas prices, or whether they can afford a vacation this year. About <a href=\"https:\/\/fortune.com\/2024\/07\/29\/us-millionaires-population-ubs-global-wealth-report-china-europe-americans\/\" target=\"_blank\" rel=\"noreferrer noopener\">one in 15 Americans<\/a> are millionaires, which means it\u2019s <em>possible <\/em>you know a millionaire, though probably one who is a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cuomo-to-partially-reopen-indoor-dining-in-nyc-for-valentines-day-if-positivity-rates-hold\/\" title=\"Cuomo To Partially Reopen Indoor Dining In NYC For Valentine\u2019s Day, \u2018If Positivity Rates Hold\u2019\">small business owner<\/a> with some capital, rather than one ostentatiously flaunting money around.<\/p>\n<p>Remember when former president Joe Biden in his January 2025 farewell address <a href=\"https:\/\/www.kuer.org\/politics-government\/2025-01-15\/watch-live-video-president-joe-biden-farewell-oval-office-white-house-address\" target=\"_blank\" rel=\"noreferrer noopener\">claimed<\/a> the \u201cultra-wealthy\u201d are a threat to \u201cour entire democracy?\u201d Later that year, New York City Mayor Zohran Mamdani more explicitly <a href=\"https:\/\/news.bloomberglaw.com\/new-york-brief\/mamdani-says-hed-rather-have-a-world-without-billionaires\" target=\"_blank\" rel=\"noreferrer noopener\">declared<\/a>: \u201cI don\u2019t think that we should have billionaires.\u201d<\/p>\n<p>This is not a unique position among Democrats. New York Rep. Alexandria Ocasio-Cortez, a discussed presidential Democrat contender for 2028, <a href=\"https:\/\/hannity.com\/media-room\/economics-101-aoc-says-billionaires-should-not-exist-because-they-profiteer-off-insulin\/\" target=\"_blank\" rel=\"noreferrer noopener\">asserted<\/a> in 2020: \u201cbillionaires should not exist.\u201d Democrat Sen. Bernie Sanders, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/one-year-on-americas-trump-stores-are-still-winning\/\" title=\"One Year On, ...s Trump Stores Are Still Winning\">previous presidential candidate<\/a>, is <a href=\"https:\/\/www.theguardian.com\/us-news\/2023\/may\/02\/bernie-sanders-interview-chris-wallace-tax-rich\" target=\"_blank\" rel=\"noreferrer noopener\">on the record saying<\/a>: \u201cI think billionaires should not exist.\u201d And don\u2019t get the Left started on Elon Musk becoming the world\u2019s first trillionaire, something Sen. <a href=\"https:\/\/nypost.com\/2026\/07\/01\/opinion\/elon-musk-is-in-the-lefts-crosshairs-but-hes-not-their-target\/\" target=\"_blank\" rel=\"noreferrer noopener\">Elizabeth Warren<\/a>, Rep. Ro Khanna, and new\u00a0Democrat darling <a href=\"https:\/\/www.foxnews.com\/politics\/platners-deranged-response-musk-becoming-trillionaire-sparks-online-outrage-loserthink\/\" target=\"_blank\" rel=\"noreferrer noopener\">Graham Platner<\/a> all found viscerally despicable.<\/p>\n<p>Yet as much as we can be cynical towards uber-wealthy Americans, there\u2019s just as much reason to be skeptical of those demanding their downfall. Think for a moment about who has the loudest, and most influential voice in American politics today.<\/p>\n<p>As John O. McGinnis argues in his recent book <a href=\"https:\/\/www.encounterbooks.com\/books\/democracy-needs-rich\/\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Why Democracy Needs the Rich<\/em><\/a>, the answer is obvious: it is \u201cthe intelligentsia, or chattering class, including journalists, intellectuals, and entertainers,\u201d who leverage the media, academy, and entertainment industry, to sway public opinion. \u201cLike an unseen current in a river, their influence is constant, even as often relatively inexperienced political appointees with different views struggle to control the flow.\u201d To disempower and silence the wealthy would effectively grant <em>more<\/em> power and influence to woke power blocs.<a id=\"_msocom_1\"><\/a><\/p>\n<h2><strong>What Eliminating the Wealthy Would Really Do<\/strong><\/h2>\n<p>As McGinnis argues, the rich can counter the influence of the \u201cchattering class\u201d in various ways. They can act as an obstacle to special interest groups, because most (though certainly not all) of the wealthy are interested in <em>making money<\/em>. In seeking out and supporting new business ventures, they overcome the \u201cbureaucratic inertia\u201d of big government.<\/p>\n<p>This is what makes America\u2019s economy so distinct. The United States is far more open to entrepreneurship and innovation, with a venture capital market <a href=\"https:\/\/pitchbook.com\/news\/reports\/nvca-pitchbook-venture-monitor\" target=\"_blank\" rel=\"noreferrer noopener\">approximately 3\u20134 times<\/a> larger than Europe. There are also at least <a href=\"https:\/\/www.cbinsights.com\/research-unicorn-companies\" target=\"_blank\" rel=\"noreferrer noopener\">three times as many <a href=\"https:\/\/amzn.to\/3YuVZYV\" >billion-dollar start-ups<\/a><\/a> here than across the Atlantic.<\/p>\n<p>The results speak for themselves. America generates incomparable wealth and opportunities, something from which all Americans benefit in untold ways, including what we eat, where we live, what we drive, and what we can accomplish.<\/p>\n<p>Moreover, because wealth somewhat insulates them, the rich can \u201cchampion causes that are unpopular with the current majority\u201d in a way that elected politicians often fear doing. Many legitimate voices would effectively be silenced or marginalized if not for wealthy donors who support their cause through supporting think-tanks, institutes, fellowships, and publications.<\/p>\n<p>Because of this, the attack on the wealthy is not merely an attempt to \u201cspread the wealth.\u201d In reality, per McGinnis, it will create a \u201ca more collectivist society, where the state \u2014 its bureaucrats and politicians advised by journalists and academics \u2014 hold greater and more unchecked authority.\u201d This result will not bring prosperity to wide swaths of American citizens, but further empower bureaucrats, special interest groups, and professional guilds against innovators and entrepreneurs.<\/p>\n<p> \u201cLike a magician\u2019s misdirection, the focus on the rich distracts from the real objective: to concentrate power in the hands of those who claim to speak for the people, while sidelining the diverse and decentralized forces that historically have kept American democracy vibrant and resilient.\u201d<\/p>\n<h2><strong>To Celebrate the Wealthy Doesn\u2019t Mean We Canonize Them<\/strong><\/h2>\n<p>The point here is not to valorize the wealthy. They are just as motivated to benefit themselves and their loved ones as any of us are. They want to make money, frequently regardless of the broader negative consequences on society, as the explosion of social media over the last two decades <a href=\"https:\/\/www.hhs.gov\/surgeongeneral\/reports-and-publications\/screen-use-harms\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">proved<\/a>.<\/p>\n<p>They are a power bloc, like many others. As Madison argues in Federalist No. 51, the proliferation of power blocs inhibits tyranny, because this disperses power, rather than allowing it to concentrate. \u201cAmbition must be made to counteract ambition,\u201d wrote Madison, and that is precisely what the\u00a0presence of multiple factions within a society helps accomplish.<\/p>\n<p>The point is also not that America should give the wealthy any special favors \u2014 that, too, \u00a0results in corruption and societal inertia. Rich Americans should have to hustle like the rest of us. When their business practices infringe on our rights, or cause societal harm, they should be confronted and reined in by other power blocs, such as media, the courts, or groups of concerned citizens. But seeking to eliminate wealthy earners is self-defeating, because it would make us more beholden to other power blocs that are <em>already <\/em>largely ideologically aligned.<\/p>\n<p>Calls to eliminate our nation\u2019s billionaires will make us poorer and more dependent on government and the chattering class and are thus fundamentally counter-productive. Unless, of course, you\u2019re a leftist seeking to aggrandize <em>your<\/em> power bloc at the expense of ordinary Americans. In that case, it\u2019s one of the best ways to undermine our republican regime.<\/p>\n<hr>\n<p>      Casey Chalk is a senior contributor at The Federalist and an editor and columnist at The New Oxford Review. He is a regular contributor at many publications and the author of three books, including the upcoming &#8220;Wisdom From the Cross: How Jesus\u2019 Seven Last Words Teach Us How to Live (and Die)&#8221; (Sophia Institute Press, 2026).<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>California Democrats propose a one-time wealth tax on billionaires<\/p>\n","protected":false},"author":658,"featured_media":2626530,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/thefederalist.com\/wp-content\/uploads\/2026\/07\/Copy-of-Copy-of-Copy-of-CORRECT-Twitter-template-1.png","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[3685,32312,50890,43639,67302],"class_list":["post-2626529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-democrats","tag-government-control","tag-income-inequality","tag-political-manipulation","tag-wealth-redistribution"],"fifu_image_url":"https:\/\/thefederalist.com\/wp-content\/uploads\/2026\/07\/Copy-of-Copy-of-Copy-of-CORRECT-Twitter-template-1.png","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2626529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/658"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2626529"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2626529\/revisions"}],"predecessor-version":[{"id":2626534,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2626529\/revisions\/2626534"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2626530"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2626529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2626529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2626529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}