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.

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[–] 4 points 11 hours ago (1 child)

you havent been on bluesky or some of the earlier lemmy posts about him. I remember getting told to "enjoy the camps" because I was pissed back when he started to clearly show he was a transphobic cunt

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  • [–] 2 points 9 hours ago

    I avoid bluesky. Not my tastes.

    I think newsom is unqualified to hold a door open, let alone public office. Unfortunately you and I are minorities and what we think doesn't matter much. God forbid he or Harris make it to the general. But if they should. Do you think it better the election go to whatever homunculus Thiel is running? In the general, what other viable option will there be? If you live in a blue state. Absolutely vote your conscience. All I want is for those voting for their material conditions to not be attacked by those who should be allies. Same as you.

    This time there will be a primary at least. Unlike the acrimony that corpse Biden unleashed in 24. So there's a chance they won't make it. And we have 2 years to make that a reality.

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