Wealth Tax

Gov. Gavin Newsom fights to stop California's proposed billionaire wealth tax before the 2026 ballot.

California's wealth tax proposal secures enough signatures to qualify for the November ballot amid billionaire opposition.

via Robert Reich — Friends, Google co-founder Sergey Brin, one of the three or four wealthiest people in the world, with a net worth hovering around $260 billion to $277 billion , is devoting some of his wealth to fighting California’s wealth tax on billionaires. So far, he’s spent $57 million trying to defeat the measure. Brin’s actions — along with Elon Musk’s $250 million “investment” in getting Trump reelected in 2024 — should be Exhibits A and B in why America needs a wealth tax. First, let’s stipulate that t

Google's co-founder is spending heavily against Prop. 40, on the November ballot in California. It would impose a one-time 5% tax on the wealth of billionaires.