Walking Back the CA Billionaire Tax

4,740 Views | 54 Replies | Last: 18 hrs ago by techno-ag
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:46p, 6/19/26
AG
https://www.wsj.com/politics/policy/union-behind-california-billionaires-tax-offers-to-drop-it-in-favor-of-smaller-tax-eed4128d

Quote:
The architects of California's proposed billionaire tax said Thursday that they are open to withdrawing the ballot measure if Gov. Gavin Newsom supports a smaller wealth tax.

In an open letter to the governor, the Service Employees International Union-United Healthcare Workers West said it would pull its proposed one-time, 5% tax from the November ballot if Newsom champions a 2% tax on billionaires' net worth instead.

A person familiar with the SEIU-UHW's position said it would withdraw the billionaire tax if the governor is able to push a 2% tax through California's legislature and sign it into law by the June 25 deadline.

LOL at this. Yes, it's Trump's fault that California has spent itself into oblivion.

Quote:
"In a spirit of unity to fix the problems created by the Trump cuts to the California healthcare system, we would like to join you in enacting a 2% version of our initiative," the SEIU-UHW wrote to Newsom.

Newsome shot it down and there is a weird coalition now against it.

Quote:
Newsom batted down the offer via a spokeswoman, who said the governor "has been clear that he is strongly opposed to a California-only wealth tax."

An unlikely coalition of education, housing, law enforcement and healthcare groups, including the California Teachers Association labor union, Planned Parenthood Affiliates of California and the California Medical Association, which represents more than 50,000 physicians, recently formed to oppose the tax.

Quote:
Opinion polling has consistently shown majority backing for the proposed tax, though the margins aren't overwhelming.

Reply Quote
15
Maroon Dawn
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:58p, 6/19/26
AG
I think they're worried the wealth tax is too extreme (it is) and more billionaires will simply leave the state if it looks pretty certain it will pass. From what I've seen the retroactive exit tax part looks extremely illegal and won't pass constitutional muster and they know it.

So instead of scaring off all the income permanently, they're trying a smaller tax they hope the remaining billionaires will pay to not bother leaving.

We'll see because Gavin is desperate for this wealth grab and isn't likely to listen
Reply Quote
17
UTExan
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
1:01p, 6/19/26
No, don't withdraw it. Double it to a "one-time" 10% tax so California can keep paying for illegals' health care.
“If you’re going to have crime it should at least be organized crime”
-Havelock Vetinari
Reply Quote
13
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Maroon Dawn • 1:04p, 6/19/26
AG
Maroon Dawn said:
I think they're worried the wealth tax is too extreme (it is) and more billionaires will simply leave the state if it looks pretty certain it will pass. From what I've seen the retroactive exit tax part looks extremely illegal and won't pass constitutional muster and they know it.

So instead of scaring off all the income permanently, they're trying a smaller tax they hope the remaining billionaires will pay to not bother leaving.

We'll see because Gavin is desperate for this wealth grab and isn't likely to listen

To his credit, Gavin has been against this the entire time because he's smart enough to know what it will bankrupt the state. And he's already shot down this compromise.
Reply Quote
1
rocky the dog
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
1:06p, 6/19/26
AG


But then, if it's a tax on billionaires, that should exempt Musk, who is a trillionaire.
Elections are when people find out what politicians stand for, and politicians find out what people will fall for.
Reply Quote
44
deddog
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:07p, 6/19/26
AG
Anyone who supports this tax should be forced to take a basic high school economics class.
The commies who are proposing it, should be deported to NKorea.
Reply Quote
19
sam callahan
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:10p, 6/19/26
Quote:
basic high school economics class


Been at least a couple of decades since you were in high school, I see.
Reply Quote
5
Kenneth_2003
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:11p, 6/19/26
AG
So the want to withdraw a one time 5% tax and replace it with a smaller 2% annual tax? How generous of them towards the producers that cornerstone their entire economy

Did I read that correctly???
Reply Quote
7
1 edit
Central Committee
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:16p, 6/19/26
AG
Dems / socialists have an insatiable appetite for other people's money.

Losers.
Reply Quote
21
Logos Stick
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:16p, 6/19/26
The fact that they proposed it would be enough to make me leave the state.
Reply Quote
22
EMY92
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:31p, 6/19/26
AG
They're OK with withdrawing the petition if the law can be passed in a week. Though, I could see Cali rushing a massive tax through.
Reply Quote
pfo
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:39p, 6/19/26
AG
My favorite thing about this Wealth Tax is also my favorite thing about Global Warming and Unions and yachts.

The democrat voting hypocrites Mark Zuckerberg, the Google Boys, Howard Schultz, Jeff Bezos and others of their ilk, moved from California to dodge the Wealth Tax, declared Global Warming dead when they needed yachts and AI Data centers to get richer and more powerful, and they didn't want their own businesses unionized and are replacing as many workers as they can with robots.
Reply Quote
8
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:52p, 6/19/26
AG
There was once a Californian who possessed the most wonderful Goose you can imagine, for every day when he visited the nest, the Goose had laid a beautiful, glittering, golden egg.

The Californian took the eggs to market and soon began to get rich. But it was not long before he grew impatient with the Goose because she gave him only a single golden egg a day. He was not getting rich fast enough.

Then one day, after he had finished counting his money, the idea came to him that he could get all the golden eggs at once by killing the Goose and cutting it open. But when the deed was done, not a single golden egg did he find, and his precious Goose was dead.

Take Aesop's fable to heart, Californians.
The left cannot kill the Spirit of Charlie Kirk.
Reply Quote
36
BTKAG97
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
4:47p, 6/19/26
AG
From "It's ONLY a 1 time 5% tax!" to...

"It's ONLY a small, annual 2% tax!"

What idiot couldn't see this coming?
Reply Quote
12
1 edit
AggieVictor10
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
5:24p, 6/19/26
AG
If they haven't already, commiefornia billionaires should move to Texas and Florida.
“…What?”

- Joe Biden
Reply Quote
3
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to AggieVictor10 • 7:16p, 6/19/26
AG
AggieVictor10 said:
If they haven't already, commiefornia billionaires should move to Texas and Florida.


Some are going to Nevada side of Tahoe. Home prices there have exploded because of it. Zuckerberg already has a home there.
Reply Quote
4
1 edit
doubledog
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
7:31p, 6/19/26
Even the Democrats understand that losing the wealthy would necessitate taxing the less affluent to compensate for the shortfall, which would be political suicide for them.
Reply Quote
1
stetson
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:04p, 6/19/26
AG
Wow, pretty amazing moment when communists realize that they have gone too far.
FJB
Reply Quote
2
MemphisAg1
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:19p, 6/19/26
AG
Newsome said it... the only reason he doesn't support the CA wealth tax is because it would disadvantage CA compared to other states. He, like Bernie Sanders, AOC, and other Dems, absolutely support a national wealth tax. Then nobody can escape it by moving to another state.

Watch for the Dems to push this hard next time they're in power. Probably tied to socialist dreams like free Obamacare for everybody, free child-care, and free college.
Reply Quote
11
Ulysses90
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to stetson • 8:29p, 6/19/26
AG
stetson said:
Wow, pretty amazing moment when communists realize that they have gone too far.


As Margaret Thatcher would have told them, they found the point at which they would run out of other people's money.
Reply Quote
5
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Ulysses90 • 9:02p, 6/19/26
AG
The left cannot kill the Spirit of Charlie Kirk.
Reply Quote
16
Bobaloo
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to techno-ag • 6:16a, 6/20/26
techno-ag said:


There is a lot to be said for this statement. Very little is accomplished sitting inside a home all day long. One never knows what might be gained from the actual work or relationships built at work. I thought of this yesterday while watching the feature group of the US Open that included Jordan Spieth. His caddie was a kindergarten teacher when he caddied for Jordan at an amateur event a number of years ago. They clicked, Jordan liked him and the rest is history. Dude is a multi-millionaire now and has one of the best jobs on the planet.
‘This conflict was begun on the timing and terms of others; it will end in a way and at an hour of our choosing.’

George W. Bush
Reply Quote
7
OverSeas AG
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:22a, 6/20/26
AG
What a pathetically petty group of people.

"We don't make much money, so I want to steal their money. "

Such repugnant people.
I despise Marxists... the most repugnant people alive.
Reply Quote
8
Burdizzo
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:25a, 6/20/26
AG
SEIU is an enemy of the state and should be treated as such
Reply Quote
6
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to MemphisAg1 • 9:26a, 6/20/26
AG
MemphisAg1 said:
Newsome said it... the only reason he doesn't support the CA wealth tax is because it would disadvantage CA compared to other states. He, like Bernie Sanders, AOC, and other Dems, absolutely support a national wealth tax. Then nobody can escape it by moving to another state.

Watch for the Dems to push this hard next time they're in power. Probably tied to socialist dreams like free Obamacare for everybody, free child-care, and free college.


Good point. There is a follow up to this article I posted where it's pointed out that he supports a national wealth tax so that will be in his campaign when he runs for POTUS.
Reply Quote
4
OverSeas AG
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to MemphisAg1 • 9:29a, 6/20/26
AG
MemphisAg1 said:


Watch for the Dems to push this hard next time they're in power. Probably tied to socialist dreams like free Obamacare for everybody, free child-care, and free college.


Except as we found and out (and anyone with a brain already knew), Obamacare wasn't free and neither is any other program.

Some of their jealousy money might go to prgrams, most will enrich a few while doing nothing for the masses.
I despise Marxists... the most repugnant people alive.
Reply Quote
7
MemphisAg1
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to OverSeas AG • 9:34a, 6/20/26
AG
OverSeas AG said:
MemphisAg1 said:


Watch for the Dems to push this hard next time they're in power. Probably tied to socialist dreams like free Obamacare for everybody, free child-care, and free college.


Except as we found and out (and anyone with a brain already knew), Obamacare wasn't free and neither is any other program.

Some of their jealousy money might go to prgrams, most will enrich a few while doing nothing for the masses.


I love your signature line. Totally agree. Nothing worse than people that complain about how much stuff other people have and actively try to take it.
Reply Quote
2
Kansas Kid
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Bobaloo • 2:19p, 6/20/26
It also would solve a lot of the mental health problems in society. Sitting at home playing video games and doing other things non productive activities wears on the mind and makes it weak. A job provides a lot more than money to live on.
Reply Quote
4
Agsrback12
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:30p, 6/20/26
Does anybody find it ironic that Musk, whose company, Tesla, still takes billions in government subsidies, left due to being taxed too much?
Reply Quote
techno-ag
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Agsrback12 • 3:32p, 6/20/26
AG
Agsrback12 said:
Does anybody find it ironic that Musk, whose company, Tesla, still takes billions in government subsidies, left due to being taxed too much?

Not at all.
The left cannot kill the Spirit of Charlie Kirk.
Reply Quote
4
The Sun
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Agsrback12 • 3:38p, 6/20/26
Agsrback12 said:
Does anybody find it ironic that Musk, whose company, Tesla, still takes billions in government subsidies, left due to being taxed too much?


Cite a source on Tesla receiving federal subsidies.
Reply Quote
8
jt2hunt
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:58p, 6/20/26
AG
Why not 100% tax
Reply Quote
96AgGrad
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
2:43a, 6/21/26
AG
They just need to sell a couple more teas per hour to pay for the tax.
Reply Quote
5
Rocky Rider
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to jt2hunt • 7:22a, 6/21/26
AG
jt2hunt said:
Why not 100% tax


This is the ultimate goal if we're talking about the long game. Eventually they'll propose collecting all wealth and redistributing it. This will kill entrepreneurship, innovation, hard working, and risk taking. At this stage everyone is poor…except for a few that control everything.
Reply Quote
3
LOYAL AG
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Agsrback12 • 7:41a, 6/21/26
AG
Agsrback12 said:
Does anybody find it ironic that Musk, whose company, Tesla, still takes billions in government subsidies, left due to being taxed too much?


The federal government is the largest financial entity on earth. That's a disgusting statement but it's factually correct. As a result there are literally millions of people that make a living providing services to that entity and it would fiscally irresponsible for them to not protect the money they earned. So no, I don't find it ironic he acts in a manner that financially responsible for himself and his company. To do otherwise would make him a moron and we all know that's not the case. What I do find ironic is that a nation founded with a small, unobtrusive central government now has this behemoth being run by repulsive, jealous, envious politicians most of whom have never contributed anything meaningful to the country or its economy.
The federal government was never meant to be this powerful.
Reply Quote
6
Page 1 of 2 ▼
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.