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Daily Archives: 27. Juni 2026
The union man who unleashed a political earthquake in California
(March 25, 2026)
When Gavin Newsom stood before a room of economic elites in New York last December and derided a âsingle labor leaderâ pushing a tax on California billionaires, he never said his name. He didnât need to.
Everyone in California politics knows of Dave Regan, the legendarily combative health care union chief who has spent decades wielding Californiaâs ballot initiative system against the health care industry.
But his newest mission is on a scale orders of magnitude larger.
California billionaire tax headed for ballot despite top Democratsâ opposition
The push to put a billionaire tax to a popular vote in blue California has exposed deep divides on the left, even as Democratic politicians across the country rally around calls for the wealthy to pay more. The issue is pitting the populist mood of the public against many Democratsâ fears that the measure will push the ultrawealthy to join a broader exodus from the state and take their tax dollars with them.
Gavin Newsom calls for national billionaires tax: âItâs time for an economic resetâ
(Updated Fri, Jun 26 20264:37 PM EDT)
California Gov. Gavin Newsom called for a nationwide tax on billionaires as part of a broader âeconomic reset for America.â
Newsom, who is considered to be a 2028 presidential contender, also reiterated his opposition to a state-level wealth tax that Californians will vote on in November.
Gavin Newsom fails to stop Californiaâs controversial billionaire tax from going to voters
(June 25, 2026)
SEIU-United Healthcare Workers West President Dave Regan refused to back down on the billionaire tax.
Gavin Newsom gambles on Joe Biden in hunt for 2028 presidential nominationâ but still has to clear the Kamala Harris hurdle
(June 23, 2026)
While other Democrats are distancing themselves from Bidenâs failed reelection bid and the political wreckage that followed, Californiaâs governor is leaning in. Newsom has praised Bidenâs presidency, defended his record, and positioned himself as one of the partyâs most visible Biden loyalists.
He has called the Biden presidency a âmasterclass of policymaking.â He has said he will never turn his back on Biden. And last week, he went further.
He hosted Hunter Biden on his podcast.
That matters.
Troubled Hunter Biden teases bizarre 2028 White House run with Gavin Newsom
(June 12, 2026)
Sky News Digital Presenter Gabriella Power reacts to Hunter Biden speaking about his political future on Gavin Newsom‘s podcast. The son of former US President Joe Biden teased a potential vice-presidential run in 2028.
Gavin Newsom moves to neutralize tax on billionaires
(January 12, 2026)
The conversations, reported here for the first time, have occurred intermittently for months as SEIU-UHWâs ballot initiative targeting billionaires migrated from the backrooms of California politics to the center of a raging debate about Silicon Valley and income inequality, sparking tech titansâ wrath and vows to move out of state.
âWeâve been at this for four months,â Newsom said in an interview with POLITICO, describing an âall-handsâ effort that has included him meeting one-on-one with SEIU-UHWâs leader, Dave Regan.
A compromise does not appear imminent. A union official cast doubt on the possibility of a deal, saying the two sides do not currently have another meeting scheduled and framing a ballot fight as an inevitability.
California Billionaire Tax Act
Our solution: The California Billionaire Tax Act
Weâre calling on Californiaâs billionaires to step up and pay a one-time, emergency 5% tax to prevent the collapse of California healthcare and help fund California public K-14 education and state food assistance programs. This would protect healthcare jobs and ensure working people and families can get the care they need. The tax would be paid only by Californians worth more than $1 billion â which is about 200 people who hold a combined wealth of $2 trillion.
Get the fact sheet: English | Spanish
Visit the campaign website.
American âOligarchyâ Decried by Biden Gained $1.5 Trillion in His Term
(January 16, 2025)
The very richest Americans are among the biggest winners from President Joe Bidenâs time in office, despite his farewell address warning of an âoligarchyâ and a âtech industrial complexâ that threaten US democracy.
The 100 wealthiest Americans got more than $1.5 trillion richer over the last four years, with tech tycoons including Elon Musk, Larry Ellison and Mark Zuckerberg leading the way, according to the Bloomberg Billionaires Index. The top 0.1% gained more than $6 trillion, Federal Reserve estimates through September show.
U.S. Net Wealth Is Over $135 Trillion. Hereâs Where That Money Resides.
(Sept 13, 2023)
At the Private and Public Sector Entity Levels. (In trillions of U.S. dollars)
PRIVATE SECTOR:
Households 121.9
Nonprofits 8.6
Noncorporate businesses 17.2
Total U.S. Private Sector 147.7
PUBLIC SECTOR:
Federal government – 21.3
State and local government 11.5
Total U.S. Public Sector – 9.8
Instrument discrepancies – 1.1
TOTAL U.S. WEALTH 136.8
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