Midway through this summer, a high-quality poll found that Democrats in California were overwhelmingly in favor of the upcoming ballot measure for a one-time 5% tax on billionaire wealth.
The ratio was more than 4 to 1. But the state’s most powerful Democrats – including the governor Gavin Newsom, his near-certain successor Xavier Becerra and the Los Angeles mayor Karen Bass – have lined up with Silicon Valley billionaires who’ve raised upward of $340m to defeat the initiative.
Newsom speaking out against this one-time wealth tax lays bare for everyone that he’s in the pocket of billionaires. I didn’t like him before either, but I think Gavin Newsom is throwing away his career on this issue. How utterly tone-deaf to the mood of the US population do you have to be to oppose this
I’m sure he’s trashing his career in exchange for a boat load of money
Is it tone deafness if you hear it and just don’t give a fuck? He’s not stupid. He just knows where his money comes from.
I’m no Newson fan so correct me if I’m wrong, but doesn’t he oppose it in favor of taxing it at the federal level?
https://web.archive.org/web/20260626211202/https://www.pbs.org/newshour/politics/newsom-urges-a-national-billionaires-tax-while-fighting-one-in-california
Nice little excuse, truth is these people have generational wealth beyond understanding. My little ape hand clearly has no grapes while my neighbor is burning extra grapes just to make space for oxygen.
If it was actually happening at the federal level he would oppose it for the exact same reason, “billionaires are going to move out of the US, we can’t tax them unless it’s an international treaty”
“An international treaty isn’t the right way to do this; billionaires will just find another solar system to move to. We can’t tax them unless it’s done by the galactic government”
You’re correct. And he’s right, but I still don’t like Gavin.
“You may not be able to pick up and move to Texas or Florida to shelter your income from taxation, but I promise you that billionaires can, and do,” Newsom wrote. “Wealth is movable, and it shops for the state with the lowest taxes. The fight belongs at the federal level, where this broken system was created in the first place.”
there is a price paid by everyone when these parasites don’t pay, this extra tax proposal is just the icing on a very big cake. Fuck them and don’t let the door hit you on the way out. there are also other reason the fucks want to be in Cali and that is because its a great place to live for many many reasons Texas can’t compete with some basics required by some people. eh?
He’s right but still wrong. Think about it this way. Across the country many wanted gay marriage equality so we could just move on socially. But it didn’t happen nationally at first. It happened in CA and then CA VOTERS we’re stupid and overturned it. Then another state voted for it. And another. And another. And it went to Soctus and then it was more or less law.
Prop 40 isn’t the right way to go about this.
But it’s the proverbial domino that needs to be kicked over.
Once that happens then the ball gets rolling. Maybe a few other states like New York do the same. Watch them dare leave CA and NY. eventually wealth progressive taxation will come to federal level.
But it has to start like this because both establishment parties are ratfucked to hell.
exactly. If we can’t practice state policy, how are we suddenly going to pass it federally? State policy gives it precendence and can be a test run for how to do it at a larger scale.