Smash Notes
What Is California's Billionaire Tax? · Something Ventured -- Silicon Valley Podcast

Something Ventured -- Silicon Valley Podcast

Spooky News: California's Billionaire Tax is on the Ballot!

My explainer on California's "Billionaire Tax". In this episode I break down California's proposed billionaire tax, which is now officially on the ballot as Proposition 40. It's a one-time 5% tax on the assets of billionaires, put forward by a healthcare union. It's opposed by Governor Gavin Newsom and several other major unions. I walk through the core…

Notes

  1. What Is California's Billionaire Tax? at 5:43

    Kent Lindstrom says California's billionaire tax starts out as a 5% tax on billionaires. Full answer

  2. What Share of California Taxes Do the Richest Pay? at 13:51

    Kent Lindstrom says the richest 1 percent in California pay 40 percent of the taxes, and the richest 10 percent pay 70 percent. Full answer

  3. How Low Can California's Billionaire Tax Go? at 21:23

    Kent Lindstrom says California's billionaire tax starts as a 5 percent tax on billionaires, and the legislature can make the tax recurring and lower the… Full answer

  4. How Much of California Taxes Do the Richest Pay? at 29:30

    Kent Lindstrom says the richest 1% in California pay 40% of the taxes, and the richest 10% pay 70%. Rich people are paying all the taxes. Full answer

Related notes

Related episodes

Plays from this note through the rest of the episode.

Note

Weekly highlights

One letter a week.

The notes worth hearing, with the minute they were said.