Newsom trying to kill the billionaire tax

Tuesday, January 13, 2026

Gavin Newsom' and his staff have quietly talked to the champion of a controversial wealth tax proposal seeking an off-ramp to defuse a looming ballot measure fight. The conversations, reported here for the first time, have occurred intermittently for months as SEIU-UHW's ballot initiative targeting billionaires migrated from the backrooms of California politics to the center of a raging debate about Silicon Valley and income inequality, sparking tech titans' wrath and vows to move out of state.

Posted by sitzkrieg at 10:07 AM | 10 COMMENTS | permalink | Comment on This Entry |

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Newsom has staunchly opposed both the current proposal and earlier versions that surfaced in Sacramento, arguing they would hamstring California's tentpole industries and topple a pillar of the state's tax base. Proponents with SEIU-UHW, a major union representing more than 100,000 workers, argue the measure is the only idea commensurate with the scale of federal cuts that could lead to widespread health care job losses and hospital closures.

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If this was a ruse to get the pro-Trump Oligarchs out of California, well played!

#1 | Posted by snoofy at 2026-01-13 10:23 AM | Reply

More like a "BITCH YOURE COSTING US MONEY!" moment.

#2 | Posted by sitzkrieg at 2026-01-13 10:35 AM | Reply

He has no other way to try to close the deficit. But the proposition was proposed because of income inequality, not to fix the budget.

So in this regard Billionaires leaving its working, without even being implemented.

RoKahanna already came out for it, and this is why the techBros are going else where. They figured if the guy they installed to represent them is for it the State is done for.
Perceived fraud is the biggest issue in the State. Ro Khanna got caught flat footed in his full throated support of the proposition.

Too late..

What Gavin Newsom and Ro Khanna get wrong in the battle over Billionaire Tax
sfstandard.com

The San jose Mayor is quite good.

#3 | Posted by oneironaut at 2026-01-13 11:09 AM | Reply

If this was a ruse to get the pro-Trump Oligarchs out of California, well played!
#1 | POSTED BY SNOOFY

They installed Democrat representatives??... make your logic makes sense.

#4 | Posted by oneironaut at 2026-01-13 11:10 AM | Reply

make your logic makes sense.

#4 | POSTED BY ONEIRONAUT

You first Commie Spyboy.

#5 | Posted by donnerboy at 2026-01-13 11:21 AM | Reply

Billionaires distort the real economy.

They make poor places seem rich on paper and statistically.

They drive up housing costs and dominate local politics.

Overall their presence isn't particularly good for regular people.

Tax em' till they scurry off Like the bloodsuckers they are.

Nobody needs Billionaires.

Concentration of Wealth hurts everyone including the Billionaires themselves.

A level playing field used to be considered important,I remember the rhetoric from both parties when I was young.

The "Reagan Revolution" Changed all That.

That's when Greed became "Good" and Billionaires became "Prophets of Prosperity".

Fuck that and Fuck Them Right off.

#6 | Posted by Effeteposer at 2026-01-13 11:24 AM | Reply

I hope nobody has fooled themselves into believing that it's only "Trump Oligarchs" that are staunchly against this tax.

#7 | Posted by eberly at 2026-01-13 11:42 AM | Reply

-Concentration of Wealth hurts everyone including the Billionaires themselves.

How does it hurt billionaires themselves?

#8 | Posted by eberly at 2026-01-13 11:43 AM | Reply

Taxes are supposed to be about revenue. When greed and envy turns taxes into a form of punishing success is when things go off the rails.

#9 | Posted by BellRinger at 2026-01-13 11:51 AM | Reply

I hope nobody has fooled themselves into believing that it's only "Trump Oligarchs" that are staunchly against this tax.
#7 | POSTED BY EBERLY

If anyone has money and decide to keep as much as possible from confiscation, they must be a Trump supporter. If Snoofy has money and decides to keep as much as possible, hes still a good person.

A level playing field used to be considered important,I remember the rhetoric from both parties when I was young.

Why can't you have billionaires in a level playing field?

#10 | Posted by oneironaut at 2026-01-13 11:54 AM | Reply