{"id":376209,"date":"2026-06-26T19:35:09","date_gmt":"2026-06-26T19:35:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/376209\/"},"modified":"2026-06-26T19:35:09","modified_gmt":"2026-06-26T19:35:09","slug":"controversial-billionaire-tax-will-appear-on-california-ballot-this-fall","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/376209\/","title":{"rendered":"Controversial Billionaire Tax Will Appear on California Ballot This Fall"},"content":{"rendered":"<p data-testid=\"paragraph-element\" class=\"rich-text mb-6 font-graphik text-body-large text-black-coffee mt-8 focus-visible:outline focus-visible:outline-black-coffee focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:shadow-focus-color text-left\">\u201cThe billionaire class no longer sees itself as part of American society,\u201d Sanders said at a Los Angeles rally in February. \u201cThey believe they have the divine right to rule and are no longer subject to democratic governance.\u201d<\/p>\n<p data-testid=\"paragraph-element\" class=\"rich-text mb-6 font-graphik text-body-large text-black-coffee mt-8 focus-visible:outline focus-visible:outline-black-coffee focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:shadow-focus-color text-left\">Democratic Rep. Ro Khanna, who representsSilicon Valley, said \u201cit makes no sense to me why any Democratic elected official or traditional Democratic allies wouldn\u2019t be supporting this.\u201d<\/p>\n<p data-testid=\"paragraph-element\" class=\"rich-text mb-6 font-graphik text-body-large text-black-coffee mt-8 focus-visible:outline focus-visible:outline-black-coffee focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:shadow-focus-color text-left\">\u201cIt also matters for the country at a time when we have Elon Musk becoming a trillionaire, are we really debating whether we should have a 5% tax?\u201d<\/p>\n<p>Top California lawmakers oppose the proposal<\/p>\n<p data-testid=\"paragraph-element\" class=\"rich-text mb-6 font-graphik text-body-large text-black-coffee mt-8 focus-visible:outline focus-visible:outline-black-coffee focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:shadow-focus-color text-left\">Newsom has been a vocal opponent of the proposed tax in his state. He has, though, expressed his support for such a measure on the federal level.\u00a0<\/p>\n<p data-testid=\"paragraph-element\" class=\"rich-text mb-6 font-graphik text-body-large text-black-coffee mt-8 focus-visible:outline focus-visible:outline-black-coffee focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:shadow-focus-color text-left\">\u201cHere is what I support: A national billionaires\u2019 tax,\u201d Newsom <a href=\"https:\/\/gavinnewsom.substack.com\/p\/its-time-for-a-national-billionaires\" title=\"undefined\" target=\"undefined\" rel=\"nofollow noopener\">wrote<\/a> in a post on his Substack on Friday, which was accompanied by a video.\u00a0<\/p>\n<p data-testid=\"paragraph-element\" class=\"rich-text mb-6 font-graphik text-body-large text-black-coffee mt-8 focus-visible:outline focus-visible:outline-black-coffee focus-visible:outline-2 focus-visible:outline-offset-2 focus-visible:shadow-focus-color text-left\">\u201cYou may not be able to pick up and move to Texas or Florida to shelter your income from taxation, but I promise you that billionaires can, and do,\u201d the governor wrote. \u201cWealth is movable, and it shops for the state with the lowest taxes. The fight belongs at the federal level, where this broken system was created in the first place.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe billionaire class no longer sees itself as part of American society,\u201d Sanders said at a Los Angeles&hellip;\n","protected":false},"author":2,"featured_media":376210,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[7,9,8,13482],"class_list":["post-376209","post","type-post","status-publish","format-standard","has-post-thumbnail","category-california","tag-california","tag-california-headlines","tag-california-news","tag-news-desk"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/376209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=376209"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/376209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/376210"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=376209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=376209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=376209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}