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.
California billionaire tax is a no-brainer for progressive Democrats, right? Wrong.
CalMatters – A union-backed proposal to tax California’s billionaires to fund health care has put some progressive lawmakers — and their labor allies — in a quandary.
California Can’t Afford the Reckless Gamble of a Billionaire Tax
Bloomberg Tax – The allure of a simple tax on the ultra-rich is undeniable. California, a state of immense prosperity, simultaneously struggles with some of the highest rates of wealth inequality in the nation.