Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

SamuelTheThird

(1,437 posts)
Sat Jun 20, 2026, 06:45 PM 12 hrs ago

Billionaire tax makes it to ballot in California

California officials announced that a proposed ballot initiative imposing a one-time tax on residents worth more than $1 billion has qualified for the November 2026 ballot. The measure, backed by a healthcare workers' union, faces strong opposition from Gov. Gavin Newsom and several tech billionaires, who argue it could drive wealthy residents and investment out of the state. Supporters say the revenue is needed to fund healthcare, education, and food assistance programs.

5 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Billionaire tax makes it to ballot in California (Original Post) SamuelTheThird 12 hrs ago OP
Well I guess the billionaires will be leaving California................. Lovie777 12 hrs ago #1
I absolutely love Newsome hookaleft 12 hrs ago #2
Newsom veteod data center transparency legislation SamuelTheThird 11 hrs ago #3
and he is against the billionaire tax hookaleft 10 hrs ago #4
I don't support the one time aspect. tirebiter 8 hrs ago #5

Lovie777

(24,358 posts)
1. Well I guess the billionaires will be leaving California.................
Sat Jun 20, 2026, 06:59 PM
12 hrs ago

it's ok for us to paid higher taxes, but rich don't want to pay their fair share.

Greed.

hookaleft

(1,199 posts)
2. I absolutely love Newsome
Sat Jun 20, 2026, 07:00 PM
12 hrs ago

He ideas about the future of AI and his confrontation of the impacts that AI will have on our communites and country and preparing for the future are uplifting. But Billionaires must pay their fair share. They cannot continue to take advantage of the opportunities that have been afforded to them. They must pay their fair share.

Governor Newsom signs first-of-its-kind executive order to prepare workers and businesses for potential AI disruption

What you need to know: Governor Newsom is signing a first-in-the-nation executive order to confront the economic impacts of artificial intelligence on workers and small businesses, support workers in sectors impacted by AI transition, and pursue new policies that ensure Californians — not just big tech companies — benefit from the wealth-generating opportunities of the future economy.

SACRAMENTO – Governor Gavin Newsom today issued an executive order directing California to prepare workers, small businesses, and communities for the economic disruption that artificial intelligence will bring to the workforce. The order mobilizes state agencies, labor experts, economists, universities, and industry leaders to develop new policies, gather data, and identify early warning signs of workforce disruption — while ensuring workers share in the gains created by AI-driven productivity.

The order directs the state to explore policies including severance standards, employment insurance and transition support for displaced workers, worker ownership models, universal basic capital concepts, expanded workforce training, and stronger tracking of hiring and payroll trends to help California respond faster to potential layoffs and economic disruption. Read the executive order here.
“California has never sat back and watched as the future happened to us – and we won’t start now. We have taken the lead on advancing innovation, safety, and transparency. But we must think bigger. This moment demands that we reimagine the entire system — how we work, how we govern, how we prepare people for the future — and that work is starting right here in the Golden State.

Today is just the first step as we rewrite policy and direction, creating a future of work that works for all.”

Governor Gavin Newsom
https://www.gov.ca.gov/2026/05/21/governor-newsom-signs-first-of-its-kind-executive-order-to-prepare-workers-and-businesses-for-potential-ai-disruption/
Much More:

SamuelTheThird

(1,437 posts)
3. Newsom veteod data center transparency legislation
Sat Jun 20, 2026, 07:05 PM
11 hrs ago

They dont have to reveal their water usage to the public now.

tirebiter

(2,705 posts)
5. I don't support the one time aspect.
Sat Jun 20, 2026, 10:25 PM
8 hrs ago

One time is too short sited. California will need the money forever. So will the US. just create a new bracket . Keep making money, just be willing to share it

Latest Discussions»General Discussion»Billionaire tax makes it ...