Not only has Gov. Gavin Newsom vocally opposed the proposed California billionaire tax, but he also wants to prevent the state from ever passing a wealth tax in the future.
On Friday he endorsed Proposition 42, a ballot measure that would cancel out Proposition 40, the proposed billionaire tax. Prop. 42 would prohibit retroactive taxes like the one-time 5% tax on assets that would apply to any billionaire who lived in California on Jan. 1, 2026 if Prop. 40 passes.
But Prop. 42, funded and placed on the ballot by billionaire and Google co-founder Sergey Brin to defeat the billionaire tax, also would go further, by banning any new taxes on personal property.
That includes pensions and 401K accounts before retirees start drawing retirement income from them. It also includes other investments, financial assets, business holdings, art collections and all other forms of personal wealth that would be affected by the billionaire tax or any future wealth tax.
Newsom’s decision to support Prop. 42 runs counter to his own Democratic Party and some labor unions. It also aligns him with some of the wealthy tech donors with whom he’s maintained longstanding relationships dating back to his days as mayor of San Francisco.
“What’re you gonna do about it, vote republican?” - The democratic party
I love how honest we are becoming with each other. Hang up your masks blue maga, you dont need them anymore.
Gavin Newsom exemplifies what is wrong with the Democratic party.
I don’t want a one time tax on billionaires.
I want an every year tax on billionaires.
I hear you, but don’t let the lack of a perfect solution be the enemy of progress. A one-time tax would still (theoretically) do some good, and not harm anybody. So long as those funds are properly allocated.
Prop 40 has a loop hole where they can tax everyone on assets if ca needs to. I’m against taxing assets in general. Tax actual income 80% for all I care for billionaires but taxing assets is full of legal issues. Who says what something is worth?
security backed loans are not taxed as income, and largely how the class pays for things.
Good for them for figuring out how to gain the system. Eventually they have to pay those loans
“Figuring out” how to game the system they rigged?
But yeah, you can’t live long by eating your own shit. So eventually they will have pay, one way or another.
Assets gains outpace interest rate on loan. They take out another securities backed loan to pay off first and pay for more stuff. They do this forever.
Don’t care. They need to pay it.
Man, I so hope this kills his political aspirations dead.
Remember when he was pretending to be a peoples governor?
What a massive piece of shit!
Gavin Newsom is a clown & lapdog to the Epstein class. His legacy is mud
better work on your gag reflexes folks, because they are going to ram this guy down our throats so hard in 2028
Maybe. He’s losing popularity in his home state though, and I wonder how attractive a candidate whose home state doesn’t like them will be at the national level.
Didn’t stop Al Gore.
Former Vice President Al Gore. Gavin Newsom has never been VP with a President who’s not running again.
That looks like an advantage, given the track record for Al Gore and Walter Mondale. ETA: Ah geez, how did I forget Kamala Harris?
Or it could be why they got the party nod even though they weren’t attractive candidates to the people.
I’d actually expect it to be more likely if Newsom gets the nod for VP and then tries to launch that to a Presidential run the next time around.
um, RM Nixon 1960?
Al Gore literally had the presidency stolen from him by SCOTUS.
From Wikipedia:
An analysis of the NORC data by University of Pennsylvania researcher Steven F. Freeman and journalist Joel Bleifuss concluded that, no matter what standard is used, after a recount of all uncounted votes, Gore would have been the victor.
I can’t blame Gore for unpopularity when he won the popular vote, and would have won the electoral vote had they just been allowed to actually count the votes fairly.
He lost Tennessee, his home state, though.
I see what you’re saying, but I think you wouldn’t be saying these things if the votes had been tallied properly and he became POTUS.
Or Harris
Former Vice President Kamala Harris. Gavin Newsom has never been VP with a President who’s not running again.
A dem not being popular in Tennessee is different from a dem not popular in CA.
Al Gore actually seemed really cool, though. I’m not sure I’ve ever heard a controversial opinion from Al Gore? EDIT: Found one, his wife supported music censorship for teens and he wholly supported her for it while working as a senator.
Al “Inviting Dee Snyder to testify will be a slam dunk for our pro-censorship position, there’s no way that guy who’s famous for being able to concisely convey resonating political statements in 5 minutes or less is articulate, what could possibly go wrong” Gore? God, I wasn’t even alive for it and it still pisses me off that craven dick was chosen as candidate…
I mean, given his competition, it still blew my mind that the election was close enough to be stolen. That cycle was key to the development of my Theory of Widespread Stupidity.
Oh god, I love that series of hearings. My favorite is when Bob Denver showed up, told Al Gore he was full of shit to his face, then bounced because he had a meeting with NASA
I think without looking, statistically it’s not great.
On the bright side, he won’t get elected in 2028 if they do that. On the down side, it’ll mean handing MAGAts another victory.
Progressives are done holding their nose to vote.
The DNC will call this bluff because they don’t care if they lose.
Yes they do care. It may not have seemed like it thus far, but only because they thought they could ride it out. It’s becoming obvious they can’t as people become more angry. They want to keep their positions and their pay and their perks, and that’s all on the line if they lose the midterms.
There are only so many jobs on network television.
So supporting trump it is and always been then.
How you breath and walk at the same time is a miracle
You still have a say in primaries. Ignoring them is what allows them to push their choice.
I’ve voted in every primary since I turned 18 in the year 2000 and this is still happening.
My ballot must be broken.
I do too and had some successes. Those elections are smaller so impact is bigger.
If you constantly losing either you hold an unpopular opinion and no one else around you agrees with you, or you hold a very popular opinion, but other people that hold it prefer to go on social media sites whine who gets elected instead of voting.
I’ve concluded it’s because I don’t have popular opinions. Honestly it makes me feel like voting won’t ever elect someone who actually represents me.
And I shouldn’t run for office because I won’t represent the constituents.
Government sucks and I hate it.
Doubt it. They’ll try, but they
wantneed to win if they want to keep their cushy jobs with their cushy taxpayer funded homes and healthcare, and it’s obvious as fuck the public tide is turning.If Newsom wants to cling to his old-school anti progressive bullshit, he’s going to find that won’t work for long. People are getting angry enough to begin paying attention, and establishment dinosaurs will find they’re about to go extinct.
We’ve seen this trend before, and it’s obvious where this is going.
Oh look, Democrats have betrayed their own constituency again!?!
I, for one, am stunned
Who knew?!?
Newsom has shown, time and again, that he is a transphobic corporate shill. The real shocker would have been if he supported Prop 40.
Retirees are an important voting block and rightfully oppose any wealth tax that has a chance of affecting them.
“Runs counter to his own Democratic party…”
Reading is hard, huh?
Yeah, a lot of them suck, but generalizations suck too
Ha, yeah, I read it.
Just like eight Democrats “ran counter to their own Democratic party” with the last lame half-assed “attempt” to pass minimum wage.
No generalizations were made. The Democrats have betrayed their own constituents again. It’s a statement of fact.
You know what sucks? When someone doesn’t know what a “generalization” is.
… Continues to make generalizations. Says they’re not making generalizations and builds apathy.
I think corporate dems and neo-libs suck too, but comments like yours add nothing.
What do you gain by being divisive?
What does anyone gain by being quiet? I’m not trying to be divisive. I do notice a large amount of people making these same generalizations though, and that builds apathy around voting time.
Libs this, Dems that, “they aren’t leftists”, “there are no leftists in the USA”. It gets old. Besides, who am I dividing when these types are doing so much dividing on their own?
That was a productive response to my question without attributing negative aspects to the original comment/question, I appreciate that. I agree, silence doesn’t help, but unity is also key. Counter points can me made while being constructive, as you’ve demonstrated.
You’re right, I made a mean statement in my original reply.
I used to make more inclusive comments, but I’ve also received immediate negative feedback and it’s made me jaded on politics discussions.
I appreciate your comments and I’ll take time to recenter myself in future discussions.
“Runs counter to his own Democratic party…”
But they’re not going to throw him out either, so… how about you work on those 1+1 skills.
My point was generalizations suck.
I think Newsom is neo-liberal trash, but throwing the baby out with the bath water is no good either.
Newsom is a lapdog to the forces destroying this country and should never be allowed near elected office. His personal wealth should be confiscated and he can subsist on welfare for the rest of his life.
Nothing says fiscal policy like taking away your biggest revenue stream.
It’s because Gavin comes from old wealth.
How do you ban future laws? Isn’t that a bit like when a 10 year old tells his girlfriend she isn’t allowed to ever ever break up?
Fuck you Gavin
I couldn’t have said it better.
100% they will make this shithead the next president.
They will run him, braindead liberals will simp for him, he will lose, and they will blame everyone who refused to vote for him.
Democrats will not run a viable candidate because the mask has come off. They’d rather lose and continue cosplaying as opposition than to win and be criticized, the money is coming to their pockets either way.
I won’t vote for him
then go somewhere with ranked choice voting so you aren’t throwing away your vote.
We are talking the federal election for president. There is no place where ranked choice exists for that election
I personally voted in the 2024 presidential election in Alaska And ranked 4 presidents for the instant runnoff election. https://en.wikipedia.org/wiki/2024_United_States_presidential_election_in_Alaska
Throwing away your vote would be voting for establishment dems or repubs. You’re going to gleefully vote for the party that dramatically accelerated the genocide in Gaza?
I car significantly more about my friends than about strangers on the other side of the planet
Of course you do.
What if it’s him or Don Jr.?
Right now? I probably won’t bother voting. If that day comes what would I really do? Couldn’t say. I’m tired though. It’s clear that all our problems come from wealth inequality, so if there are no candidates that take it seriously, then I don’t really have a choice at all. It would probably come down to how federal workers are going to be treated, as there are federal workers in my family, and it’s the thing that directly affects us the most.
Doomed no matter who
Then vote socialist.
Ahh yes, a third party with absolutely no support in the house. They’d get so much done, even in the 5% chance they actually get elected because the system is rigged for two parties.
Don’t get me wrong. Would love a mamdani or even El sayed (sorry if it’s misspelled, going off of memory) to be placed all over every part of our government. More AOC’s and Sanders’. But we need to make the best short term option, not just help guarantee the win of the fascists by withholding votes or put them on a third party with no chance of winning. We’re not ending this shit hole situation in a single election, so better to make progressive change than let the atrocities continue with full support from the entire government.
But we need to make the best short term option
This has been the argument for literally 30 years.
Yes, you’re not fixing this in a single election. So giving up all power by agreeing to vote for a supposed “lesser evil” is giving up the future elections as well as this one - because the centrists don’t even win.
The reason to vote socialist when you lose the primary is not that third parties will win - the system does give a massive advantage to D or R candidates. It’s to record that the centrist Democrats left votes on the table, and exactly how many they did.
This has been the argument for literally 30 years.
Yes, I totally get this, but Harris would have been better than Trump. And if the public put the same effort and pressure on her that they’re putting on trump, it might have actually made some difference. Everything is conjecture though, because it didn’t happen that way.
I hope there’s enough socialist party support in the 2028 primaries to make a difference. If there’s a good candidate, and they get enough of the vote, I’ll probably swing that way. Things are so bad right now, that it may end up swinging public sentiment enough.
And if the public put the same effort and pressure on her
How do you propose to put “effort and pressue” on elected officials if you’re not even willing to deny them your vote?
Remember how everyone was talking about how they were going to push Biden left after 2020? It’s nonsense - your leverage is greatest BEFORE someone is elected, not after.
We need to stop negotiating against ourselves.
