Opinion: Billionaire tax would hurt California’s nonprofits
The Sacramento Business Journal – Charity begins at home, in more ways than one. While wealthy philanthropists support causes around the world, data show that donors disproportionately fund causes in their home state. As billionaires depart California in response to a proposed wealth tax, much of their philanthropy could move with them.
Opinion: California already losing with billionaire tax referendum
The Washington Post – The sponsors of a referendum in California to take 5 percent of the assets of all billionaires in the state said last week that they’ve submitted enough signatures to get their measure on the ballot in November. Even if it ultimately fails, the specter of such a wealth tax has already […]
New plans, new price tag for California’s high-speed rail project
KTLA 5 – New cost estimates are in for California’s high-speed rail project, and the price tag has gone up again. The massive rail system is designed to one day connect Los Angeles and San Francisco, with future extensions planned to San Diego and Sacramento.
Sneaky billionaire tax clause could eventually target middle class taxpayers, business group warns
California Post – California’s controversial billionaire tax could eventually hit more than just the people at the top of the financial food chain — eventually hurting the everyday Californian — according to a powerful Sacramento business group.
California’s billionaire tax is an immoral scam
Orange County Register – California found a convenient piggy bank to raid in response to its looming budget crisis. A proposal to tax 5% of the net worth of roughly 200 billionaires is gaining momentum.
California Is Rife With Hospice Fraud. But Whose Fault Is It?
The New York Times – Hospice fraud in California has been remarkably brazen. Medicare recipients have been signed up for care without their knowledge by thieves who stole their identities. Providers have paid kickbacks to people to enroll even though they aren’t terminally ill and don’t qualify. Sham companies have fabricated lists of employees.
This tax would rain a wealth of unintended consequences
The Washington Post – If in November’s referendum Californians unwisely enact a wealth tax, they will illustrate two axioms: Wisdom is the anticipation of consequences. And we are punished not for our sins but by them.
Newsom warns Dems: Brace for cuts
Politico – Gavin Newsom delivered a clear message to Assembly Democrats in a closed-door caucus meeting this week: More budget cuts are coming.
Tax & Fee Report
California Tax Foundation – During the first 16 months of the 2025-26 legislative session, California’s state lawmakers considered increasing annual taxes and fees by more than $216 billion.
How California bungled $1 million in a collaboration with Dolly Parton’s Imagination Library
CalMatters – A nonprofit organization created by the California State Library to improve childhood literacy has spent more than $1 million in taxpayer money but has yet to put a single book in the hands of a child.