'If You Can Keep It': What The Wealth Gap Means For Democracy

1A · Apr 27, 2026 · 38m

A growing number of states are looking at implementing a wealth tax to fund social services.

California is among them, with a billionaire tax set to be included on its November ballot. And this month, New York City Mayor Zohran Mamdani, a democratic socialist, and Democratic New York Gov. Kathy Hochul introduced a proposed tax on luxury second homes in the city. In March, Washington passed its first ever income tax – which has already been met with a legal challenge.

All this comes as the wealth gap in the U.S. grows to its widest point in three decades – and only looks set to keep…