Valuetainment "Destroying Billionaires' Influence" - California Wealth Tax IGNITES Billionaire Backlash
Dec 29, 2025
In this discussion, Tom Ellsworth critiques California's proposed billionaire wealth tax, labeling it asset seizure. Adam Sosnick defends job creators, arguing that billionaires shouldn't be demonized and promoting relocation to low-tax states. Vincent Oshana shares personal experiences and emphasizes the importance of faith and values when considering leaving California. The group dives into the potential impact of this tax on job creators and the broader economy, questioning the state's moral authority amid ongoing mismanagement.
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California's Unrealized Gains Tax Plan
- California's proposed 5% billionaire wealth tax targets unrealized gains and would hit about 199 residents as of Jan 1, 2026.
- The initiative aims to raise roughly $100 billion, mainly for healthcare and education, but critics warn of unintended consequences.
Track Sponsors To Predict Ballot Success
- Anticipate political maneuvering: track sponsors and backers to understand ballot strategy.
- Use sponsor networks to predict signature collection speed and likely messaging.
Unions Powering Ballot Access
- Organizers used unions (SEIU and United Healthcare West) to sponsor and gather signatures to place the measure on the ballot.
- Union sponsorship simplifies signature collection and frames the initiative as a worker-driven democratic effort, Tom Ellsworth warns.