Notas del episodio
Governor Gavin Newsom is siding with Republicans for once and opposing the more radical wing of the Democrat Party. What magical issue could be bringing this about? Well, California is considering one of the most aggressive tax proposals in the country – a 5 percent tax on the net worth of every billionaire living in the state. Would this save California from its budget crisis, as supporters champion, or are there other implications we need to consider?
Check out more content related to California politics, here: https://youtube.com/playlist?list=PLI6CiPPZnCntOxJ2m6iAHX3sj1_Ll0RuF&si=7alyWe8EOAto8A87
For sources cited in compiling today’s episode, check out my corresponding article here: https://www.thecaliforniaconversation.com/articles/democrats-divided-over-californias-wealth-tax
Timestamps:
00:00 – 02:05 California’s “Billionaire Tax Act”
02:06 – 06:44 What is a Wealth Tax?
06:45 – 11:47 Support & Opposition
11:48 – 24:35 Implications of a Wealth Tax
24:36 – 31:17 Final Thoughts