Five California propositions ask the same question: Who should pay billions in taxes?
CalMatters – There are 14 statewide measures on California’s Nov. 3 ballot, ranging widely in concept and potential impact. Five of them pose a fundamental question: Who should pay hundreds of billions of dollars in taxes to support local public services?
California’s proposed billionaire tax exposes rifts among labor unions
Los Angeles Times – In a blow to backers of a proposed state billionaires tax, a handful of California labor unions joined the growing campaign against the controversial ballot measure while another labor giant opted to remain on the sideline.
Newsom’s populist act: Oppose state billionaire tax, embrace federal one
CalMatters – Gov. Gavin Newsom is in his populism era. He started the year vowing to stop corporate investors from buying up large tracts of single-family homes, a desire shared by both socialists and President Donald Trump.
Instead of uniting the left, California’s billionaire tax measure has split Democratic allies
Los Angeles Times – For all the media attention California’s proposed billionaire tax has generated nationally — with some blasting it as a foolish Left Coast assault on American enterprise — the November ballot item has actually triggered a rift among progressive labor unions and Democrats, groups critical to the measure’s success.
California billionaire tax qualifies for November ballot
San Francisco Chronicle – A wildly controversial measure to tax California’s billionaires has qualified for the November ballot, Secretary of State Shirley Weber said in a memo to California election officials Wednesday evening, ensuring a brutal and expensive campaign that will take place as voters also decide which party will control Congress and the governorship.
Medi-Cal cuts, tax increases loom as Capitol lawmakers dicker over the budget
CalMatters – The primary election has come and gone. Votes are still being counted and the eventual results in close contests might not be known for weeks. However, it’s back to work for those already in office, including Gov. Gavin Newsom, and the biggest issue on their agenda is writing a budget for the 2026-27 fiscal […]
Boston Seizes on California Billionaire Tax to Lure AI Jobs
Bloomberg – The talent at some of America’s hottest artificial intelligence companies often passes through Boston-area universities before heading west to build billion-dollar businesses in Silicon Valley. Massachusetts business and political leaders say California’s proposed tax on billionaires is an opportunity to change that.
Jack up taxes on California’s rich? Popular liberal mantra, but bad idea
Los Angeles Times – The Democrats’ mantra this election year — especially among wannabe governors — is that the richest Californians should “pay their fair share.” But by any objective measurement, they already do.
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.
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.