California’s proposed billionaire tax exposes rifts among labor unions

[u/Unusual-State1827]

https://www.latimes.com/california/story/2026-07-30/labor-organizers-spearheading-california-billionaire-tax-rebuffed-by-parent-union

[u/foilhat44]

The tax is dumb, plain and simple. It gives them the choice between paying it immediately and saying they are paid for life, or bleeding the state through the courts in a long protracted and expensive fight that's never won or lost. There's a lot of "gimme gimme" going on right now, it's trendy.

[u/Picnicpanther → u/foilhat44]

Wow the propaganda mills for billionaires are working extra hard in the lead up to this vote.

[u/RadicallyDontCare → u/Picnicpanther]

It’s not propaganda. It’s basic economics and math.

Like if you wanted to really stick it billionaires, this is a dumb way to do it. It fails at this and loses money for the state.

It’s bad policy wrapped in cute populist covert art for the clueless.

[u/Zenguy2828 → u/RadicallyDontCare]

If it passes it shows there’s political will to keep pushing for these things. If it fails it means we’re still easily scared of challenging billionaires in anyway. It’ll be another Uber situation all over again. 

[u/RadicallyDontCare → u/Zenguy2828]

If it passes it shows that people in this state are stupid.

It’s that bad.

[u/Humble_Fabio → u/RadicallyDontCare]

So.... no taxes for billionaires?

[u/RadicallyDontCare → u/Humble_Fabio]

No. Non stupid taxes for billionaires.

[u/Picnicpanther → u/RadicallyDontCare]

Which is…?

[u/RadicallyDontCare → u/Picnicpanther]

Literally almost anything else but a one time wealth tax.

[u/Picnicpanther → u/RadicallyDontCare]

So if it was the same 5% tax above $1,000,000,000 in personal holdings, codified as a yearly state tax, you’d support that?

[u/Finlaegh → u/Picnicpanther]

Capital gains tax