Emotionally, though, Proposition 40 has sharpened people’s views of billionaires—as heroic innovators and job creators, or as oligarchical resource hogs.
—
Nicholas Lemann,
New Yorker,
4 Oct. 2026
Some of the ads say that the billionaire tax would lead to a decline in tax revenue, while others claim that the measure will lead to the state legislature approving wealth taxes on non-billionaires.
Becerra said that plan contained loopholes that would amount to major tax breaks for millionaires and billionaires.
—
Ben Paviour,
Sacbee.com,
2 Oct. 2026
According to a Fiscal Policy Institute analysis of IRS Statistics of Income data, the states with the most progressive tax systems have the highest concentration of millionaires per filer in the country.
Not until early in the next century did Congress take on the depredations of Gilded Age plutocrats.
—
Business Columnist,
Los Angeles Times,
7 Sep. 2026
Not to mention a conga line of billionaire tech, real-estate, and finance plutocrats paying feasance to a faux populist in exchange for contracts, pardons, and sundry favors.
Other significant players include venture capitalists Marc Andreessen and Ben Horowitz, and OpenAI president and co-founder Greg Brockman.
—
Katie McQue,
NPR,
26 Sep. 2026
At the same time, national governments need to follow established best practices and create attractive environments for top innovators, entrepreneurs, and venture capitalists.
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