Posted on 12/11/2025 6:17:16 AM PST by MtnClimber
As the old aphorism goes: “Don’t tax you; don’t tax me. Tax that fellow behind the tree.” Nobody likes paying taxes, but most Americans accept them as a necessary evil and are willing to pay their fair share, unless politicians waste those tax dollars in extraordinarily—well—wasteful ways, or steal them outright.
I refer, of course, to California, where, as the classic Eagle’s song Hotel California goes: “You can check out anytime you like, but you can never leave.”
California, it’s no secret, is in deep financial trouble. In 2022, Gavin Newsom bragged about a $97.5 billion dollar surplus. By the 2024-25 budget, that surplus turned into an estimated $73 billion deficit. By the end of 2025, it’s likely far worse and virtually no one trusts state government’s estimates.
A substantial part of the problem has been grotesque government overspending and fraud that reportedly makes Minnesota’s fraud totals look like couch cushion change. Newsom’s high-speed-rail-to-nowhere debacle hasn’t helped. And worse, Americans get to vote with their feet and U-Hauls. California is losing a taxpayer every one minute and 44 seconds of every day. This includes billionaires, of which California used to have a reasonably large supply.
What to do; what to do? Newsom and the one-party Democrat legislature know: retroactively tax fleeing billionaires!
California Democrats are pushing the retroactive billionaire tax targeting the roughly 220 billionaires residing in California in 2025. It signals not just desperation in the face of crippling debt and overspending but a recognition that California is chasing its highest earners out of the state.
The “2026 Billionaires Tax Act” would impose a one-time 5% tax on individual wealth exceeding $1 billion. While technically using 2026 wealth figures, it would apply to billionaires who resided in California in 2025.
(Excerpt) Read more at americanthinker.com ...
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And Gavin wants to run for Present with a record like that?
He actually laughed when he was confronted with how he had the streets cleared of years of human waste for the president of China but didn’t do it for the taxpayers.
So does the Governor of the "California of the Midwest" state of Illinois, JB Prickster. Er, I'm sorry ... "Pritzker."
He’s an all time loser he couldn’t venn beat Harris for her job.
There is no ass he won’t kiss to get a fed job.
“... 220 billionaires residing in California in 2025. “
If they unified and pooled their resources in opposition to California, Who’d win?
If he has unlimited tax power, how about a retro tax on everyone who never lived in CA?
> If he has unlimited tax power, how about a retro tax on everyone who never lived in CA? <
I vacated in California for about a week, maybe 40 years ago. Now I’m ascared Gavin will eventually try to tax me.
Just to be safe, I think I’m going to legally change my last name to Pelosi.
Yeah, that’s the ticket.
I can respect your question, but you know people vote on two things: Their wallet and their feelings about a person.
Bill Clinton was a loser of an Arkansas governor, but he won the instant he said, “I care about your children more than you do”.
I used to argue that Newsome’s nuttiness was exaggerated because CA managed to somehow run an impressive surplus to show for it.
Then, in no time flat, gone like the wind.
Amazing feat.
There’s so much money/wealth in this state even Newsome can’t screw it up.
And that’s saying something.
They used to tax the pensions of the retired that earned them in California then retired to a different State. So if they moved to AZ they would be taxed on their pension in AZ & CA.
Congress made that illegal and the courts upheld it.
“The “2026 Billionaires Tax Act” would impose a one-time 5% tax on individual wealth exceeding $1 billion.”
One-time! Right.
> Bill Clinton was a loser of an Arkansas governor, but he won the instant he said, “I care about your children more than you do”. <
I think it’s more than just that. Bill Clinton was the “cool” candidate, smooth and quick with a smile.
He got a lot of votes for that alone.
Back in the 1990s, California had a tax on all pensions regardless of whether you continued to live in the state after retirement. IOW, earn even a portion of a pension while working in California and that state insisted they had the right to impose a tax. USSC said other wise.
As will Greasy Gavin, from people who do not know of him today.
I, for one, trust the dulcet tones coming out of gabby Gavin's mouth.
How could you not trust a man who says whatever he thinks you want to hear?
ISWYDT
All those folks could spend 4% individually suing california for that, and probably come out ahead.
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