Not only has Gov. Gavin Newsom vocally opposed the proposed California billionaire tax, but he also wants to prevent the state from ever passing a wealth tax in the future.
On Friday he endorsed Proposition 42, a ballot measure that would cancel out Proposition 40, the proposed billionaire tax. Prop. 42 would prohibit retroactive taxes like the one-time 5% tax on assets that would apply to any billionaire who lived in California on Jan. 1, 2026 if Prop. 40 passes.
But Prop. 42, funded and placed on the ballot by billionaire and Google co-founder Sergey Brin to defeat the billionaire tax, also would go further, by banning any new taxes on personal property.
That includes pensions and 401K accounts before retirees start drawing retirement income from them. It also includes other investments, financial assets, business holdings, art collections and all other forms of personal wealth that would be affected by the billionaire tax or any future wealth tax.
Newsom’s decision to support Prop. 42 runs counter to his own Democratic Party and some labor unions. It also aligns him with some of the wealthy tech donors with whom he’s maintained longstanding relationships dating back to his days as mayor of San Francisco.
Vote Blue No Matter Who!!! </sarcasm>
Get involved in primaries if you don’t like the candidates that gets put forward. But when there is a shitty blue vs shitty red contest you still have to decide which is the least stinky turd and get out and vote for it, because they do get a lot worse. A lot worse
Preach! Too few people care about voting at all, let alone primaries or their own local elections and community politics.
I am with you. The democratic establishment is the enemy, and there is no escaping fascism under their leadership of the opposition.
Not a fucking chance in the world, and everyone downvoting is a fucking sheep. I do vote dem though, just against republicans, but it is now clear that has been folly.
Yeah, we’ll show them by not voting! Message heard loud and clear!
There is no defeating fascism through the democratic establishment.
You are the problem here, no matter how many half wits and bots agree with you. By the time Kamala was anointed, the race was lost.
Why does it even matter if the race was lost if the establishment isn’t the solution? You have a lot of complaints and seemingly zero solutions.
That I didn’t explain solutions to the enemy, doesn’t mean I don’t have them.
Oh yeah, I’m sure a Republican would be more interested in passing a wealth tax. Trump is all for em, haven’t you heard?!
A DNC ghoul is still a better pick than any MAGA goon.
You miss the actual truth here, by supporting corportist dems, we allow republicans to win.
As if the dems weren’t the fucking oligarch tools themselves. Just because you have a bunch of half wits/bots voting with you, doesn’t mean you are correct here. Wake the fuck up.
Allowing the dem establishment to run the opposition is tantamount to surrender. The Dem Establishment are the oligarchy, Jesus Christ.
That’s why I vote in primaries. Any DNC pick is still going to be better than MAGA. The people who snubbed Kamala made the world a worse place to live in.
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