wealth tax – California Globe

Ro Khanna’s New ‘Social Contract’: Wealth Confiscation Masquerading as Moral Philanthropy

July 3, 2026 1:55 pmJuly 3, 2026 2:19 pm

Rep. Ro Khanna (D-CA) used his Substack platform on July 2 to lay out what he described as the “philosophical case for tax fairness and taxing billionaire wealth,” framing the proposal as a voluntary-sounding “new social contract” between society and...

California’s Wealth Creators Flee to Nevada as Proposed Billionaire Tax Sparks Exodus

April 9, 2026 3:22 pmApril 9, 2026 3:27 pm

As the SEIU-backed 2026 Billionaire Tax Act gathers signatures for the November 2026 ballot, a growing number of California’s most successful residents are relocating or expanding their footprint across the border in Nevada. Whether the initiative qualifies for the ballot...

California’s 5% Wealth Tax Proposal Has Billionaires Thinking of Leaving and Fast

December 29, 2025 5:30 amDecember 30, 2025 11:32 am

California Governor Gavin Newsom is pushing a retroactive billionaire tax targeting the roughly 220 billionaires residing in California in 2025, the Globe reported recently. Clearly Gov. Newsom is ignoring that these individuals are the most financially mobile and can live...

Legislative Analyst and Gov. Newsom Still Disagree on Budget Deficit and Solutions

May 20, 2024 7:51 amMay 20, 2024 7:51 am

The Legislative Analyst’s Office updated spending plan in Gov. Newsom’s revised budget shows a $55 billion budget deficit as opposed to the $27.6 billion figure Newsom presented last week, according to the Legislative Analyst’s Office. The LAO released its latest...

Will Gov. Gavin Newsom Face a Reckoning with His $73B Deficit in the $330 Billion Budget?

April 9, 2024 12:00 pmApril 10, 2024 7:44 am

When are budget cuts not really budget cuts? When they are in Gov. Gavin Newsom’s budget. California has a budget deficit of $73 billion, the Legislative Analyst’s Office reports. Gov. Newsom claimed the budget deficit was only $30 billion in...

Gov. Gavin Newsom Disappears $30 Billion of the Deficit in New Budget

January 10, 2024 1:47 pmJanuary 10, 2024 1:47 pm

Where did $30 billion of California’s budget deficit go? California Governor Gavin Newsom put on quite a budget show this morning, feigning indignation over the Legislative Analyst’s Office’s recent update on the state’s actual budget deficit, which the LAO put...

Music Icon David Foster’s Daughters Declare ‘Hate’ for Gov. Gavin Newsom

September 22, 2023 8:22 amSeptember 22, 2023 8:27 am

The New York Post reports that Music icon David Foster’s daughters declared their “hate” for Gov. Gavin Newsom this week, blaming the Democrat for the state’s deteriorating quality of life — and wondering whether his goal is to have California “be...