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.
Remember when he was pretending to be a peoples governor?
Gavin Newsom exemplifies what is wrong with the Democratic party.
What a massive piece of shit!
Man, I so hope this kills his political aspirations dead.
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?
Don’t care. They need to pay it.
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.
They don’t though.
Gavin Newsom is a clown & lapdog to the Epstein class. His legacy is mud
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.
It’s because Gavin comes from old wealth.
Nothing says fiscal policy like taking away your biggest revenue stream.
Looking forward to this thread being fully purged in late 2027
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?
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…
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 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.
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.
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.
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
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.
It’s comical at this point. No way anyone votes for him if he tries to run for president.
You’d be surprised. I thought the same thing about trump 2024. A lot of people only see newsom as a charismatic anti-trump, And don’t actually see or care about his individual decisions or policies. Which, come to think of it, is very similar to how trump made it in.
As if anyone can remember anything for longer than a week.
The truly fucked part of government is the people who you’d want in the position absolutely want no part of the position. Almost everyone in government is in there for the money and the power. If you did manage to get someone in who is altruistic, they would simply be fighting against swarm upon swarm of horrible people, while at the same time refusing to take bribes and make personal deals to be able to advance any form of wealth.
For the most part, we’ve designed our government to only attract self-serving pieces of shit, and the few that aren’t in that camp never make it to the top because of all the other self-serving pieces of shit.
We’re looking at a sack of turds that occasionally does something anti-trump while licking the balls of some other oligarch, vs someone who walks out there talking centrist and campaigns for the right claiming they’re very nice people.
It is entirely possible that the DNC puts him out front instead of AOC, then we’re left with whoever trumps successor is (asuming we ever have actual real elections again), or some democrat right sycophant, or trying to convince everyone in the fucking US to write in a name.
We’re cooked any way the cards fall
Not really cooked any way the cards fall, you as an individual understand that alongside myself. Our knowledge and ability to discuss freely is what will save us. The senate has a good chance soon, we’ll know:
The Democratic candidates for those potential flips:
North Carolina: Roy Cooper
Ohio: Sherrod Brown
Alaska: Mary Peltola
Maine: Troy Jackson
Texas: James Talarico
Iowa: Josh Turek
Kansas: Adam Hamilton
If they let midterms happen without militarizing it and accept the results without fucking with them, we have a chance.
I wish those weren’t ifs
The primaries showed how much pull cable news pundits still have. They just have to tell voters “don’t vote for the policy that helps you and everyone else, the only way to beat republicans is if you imagine a voter who loves republicans dogshit policy and strategically vote for a dem candidate with those policies”
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.
