Taxation
Is theft.
California Chased Out Another Billionaire, Bringing the Total Money Lost To…
Uber co-founder Travis Kalanick says he’s the latest billionaire to join the exodus out of California as the “billionaire tax” initiative gathers signatures for the November ballot. “On December 18, I moved to Texas,” he told TPBN hosts John Coogan and Jordi Hays. “I don’t know what’s so specific about December 18, but let’s just say it’s prior to January.”If the initiative passes, it would levy a one-time 5% tax on the entire net worth of the state’s billionaires, backdated to Jan. 1, 2026. That much you probably already knew.
What you might not know about the so-called Billionaire’s Tax Act is who is pushing for it and why — or how much it’s already cost the state.
The initiative’s primary sponsor is SEIU-United Healthcare Workers West (SEIU-UHW), which hopes to literally cash in on the tech sector’s riches. The Billionaire’s Tax Act, according to the union, would direct any funds raised “primarily to healthcare funding and food assistance programs through the newly created 2026 Billionaire Tax Reserve Fund.”
I think we know how that would play out in the real world: as a slush fund by, for, and of the SEIU.
Well, I mean, y’know, DUH.


















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