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California’s Billionaire Tax Promises Healthcare Relief. The Fine Print Is Murkier.

An initiative on the California ballot would levy the nation’s first wealth tax on billionaires. Supporters say the proceeds would help offset President Donald Trump’s sweeping healthcare cuts. But critics argue that the temporary infusion of cash is a giveaway to politicians.

Sources (1)· Oct 14, 9:00 AM

california billionaire tax initiative Health Economy

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KFF Health News· Oct 14, 9:00 AMCalifornia’s Billionaire Tax Promises Healthcare Relief. The Fine Print Is Murkier.

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California’s billionaire tax will ‘kickstart a movement’ that spreads to more states, the federal government and other countries, Nobel laureates say"The explosive growth of the state’s billionaires over the past few decades has made it one of the most unequal places in America."

NewsBreak26d agoWhole story →

Economy california billionaire tax initiative

California’s Landmark Wealth Tax May Be Running Out of SteamCalifornia’s Billionaire Tax ballot initiative led in early polls, but opposition from Gavin Newsom and Xavier Becerra, along with heavy ad spending against it, is taking a toll. It’s a tough situation for Newsom.

New York Magazine27d agoWhole story →

Economy Gavin Newsom california billionaire tax initiative

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Newsom Endorses Ballot Measure That Would Cancel Out Billionaire Tax—and Ban Future Wealth TaxesCalifornia Gov. Gavin Newsom ramped up his opposition to a proposed tax on the state's billionaire residents on Friday by endorsing a competing ballot measure that would both cancel out the billionaire wealth tax initiative and prohibit any new taxes on the ownership of financial assets or other personal property. "He’s showing California his true…

Common Dreams4d agoWhole story →

Economy california ballot measure endorsement

California’s Landmark Wealth Tax May Be Running Out of SteamCalifornia’s Billionaire Tax ballot initiative led in early polls, but opposition from Gavin Newsom and Xavier Becerra, along with heavy ad spending against it, is taking a toll. It’s a tough situation for Newsom.

New York Magazine27d agoWhole story →

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The DSA’s dangerous fine print. They're coming for millionaires (and you)Michigan Senate candidate Abdul El-Sayed's tax proposals would tax capital gains and inheritances above $1 million as ordinary income, hitting far beyond billionaires.

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Mark Cuban rips Ro Khanna's 'insane' California wealth tax planMark Cuban blasts Rep. Ro Khanna’s push for a California billionaire wealth tax, calling state loans to help founders pay the levy “insane” and “the biggest insult in the history of entrepreneurship.”

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Economy Ro Khanna california wealth tax proposal

California Court Backs County Tax to Offset Federal Funding CutsSanta Clara County properly held a special election to get voter approval of a sales tax increase to address budget shortfalls created by federal cuts to Medicaid and SNAP benefits, a state court ruled.

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Health california tax ruling

Newsom backs California ballot measure that cancels out billionaire tax proposalCalifornia Gov. Gavin Newsom (D) endorsed a ballot measure that, if approved by voters, would cancel out the ballot measure proposal that would impose a one-time tax on the Golden State's billionaires. On Friday, Newsom endorsed Proposition 42, which would prohibit retroactive taxes imposed by Proposition 40, known as the Billionaire Tax Act, for any...

The Hill3d agoSources (2)Whole story →

Economy california ballot measure endorsement

Progressive groups, unions announce wealth tax initiative aimed at 2028 Oregon ballotAiming to make up for lost revenue from federal benefit cuts, a coalition of powerful Oregon advocacy groups announced Thursday that they will launch a signature-gathering campaign for the November 2028 election to approve a wealth tax on some of the state’s richest households while cutting taxes for low-income residents.

Spokane Spokesman-Review6d agoWhole story →

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California voters to decide on controversial one-time tax on billionairesCalifornia voters will decide whether the state will charge a one-time tax on billionaires. The idea that has split Democrats and labor unions.

NPR13d agoWhole story →

Economy california billionaire tax vote