2026 Billionaires Tax Act – California Globe

Stick a Fork in California: Gov. Newsom’s Proposed Retroactive Billionaire Tax

November 24, 2025 2:45 amNovember 25, 2025 1:42 pm

California Governor Gavin Newsom is pushing a retroactive billionaire tax targeting the roughly 220 billionaires residing in California in 2025, ignoring that these individuals are the most financially mobile and can live anywhere. Expecting them to remain in the state...

The Innovative Wealth Tax That Could Break California

November 19, 2025 1:54 pmNovember 19, 2025 1:55 pm

California is not only the home of innovative technology; sadly, it is also the home of innovative tax ideas. The latest breakthrough is a one-time billionaire wealth tax levied on a retroactive basis. But while the union, the former Clinton...