[MtnClimber]

And Gavin wants to run for Present with a record like that?

[KrisKrinkle]

“... 220 billionaires residing in California in 2025. “

If they unified and pooled their resources in opposition to California, Who’d win?

[UnwashedPeasant]

If he has unlimited tax power, how about a retro tax on everyone who never lived in CA?

[gloryblaze]

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.

[Mariner]

There’s so much money/wealth in this state even Newsome can’t screw it up.

And that’s saying something.

[dljordan]

“The “2026 Billionaires Tax Act” would impose a one-time 5% tax on individual wealth exceeding $1 billion.”

One-time! Right.

[DugwayDuke]

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.

[texas booster]

By the end of 2025, it’s likely far worse and virtually no one trusts state government’s estimates.

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?

[fruser1]

All those folks could spend 4% individually suing california for that, and probably come out ahead.

[Bon of Babble]

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

Thing is: Will Republicans use this obvious ammunition (and a LOT more) against Newsom in the 2028 run for POTUS?

Vance will, DeSantis already has, the rest of the party...not so sure.

[martin_fierro]

regards from Red State 'Murrica

[DesertRhino]

Billionaires must not be like I think they would be, or like they are in the movies.
In the part of Texas, I came from, engaging 200 billionaires is a good way to get your lamp blowed out.

I thought every billionaire had a couple of navy seals and retired mafia hitman on the payroll… Maybe some SAS or Legionaries. It must not be like it isn’t the movies.

[MCF]

Retroactive is another name for ex post facto. Since this is targeting the very wealthy, California is going to be up against an impressive legal team.

[null and void]

California billionaires, leave, and take your tax dollars with you.

Don’t get a 1031 exchange, you’ll have to file California 540s for five more years, AND once again at any time you sell the new property or convert it to another use, so they can - in their words - “CLAW BACK” your tax savings!

[asinclair]

I live in Nevada. I worked for a California company, with a W2. The company accountants mistakenly withheld CA tax from my paycheck.

California Tax Franchise Board tried to prosecute me when I didn't file California tax forms. My response was this: "If I pay California tax, where do I vote?"

Two withholding refund checks arrived within one week.

[AZJeep]

~119 miles being built and many structures completed, aiming for a 2030-2033 “Initial Operating Segment” launch
Cost overrun over 128 Billions
______________

By the time, this thing will move one inch we will be all dead (AOC)!

[gitmo]

Isn’t that what New York did back in the Rush Limbaugh days?