Tom Steyer is pushing a ballot measure to close what he calls the "Trump Tax Loophole" in Prop 13—but critics say he's inflated the revenue projection by up to 150% and renamed a 1978 Democratic law for political cover. Meanwhile, a separate SEIU-backed billionaire wealth tax has already triggered a documented exodus of roughly 48 billionaires and $1.1 trillion in wealth from California before a single vote is cast—a dynamic even Governor Newsom warns will backfire, as Europe's abandoned wealth taxes already proved.
Tom Steyer renamed a 1978 Democratic law after Donald Trump and called it a plan. The loophole is real. The history, and the math, are not.
SEIU-UHW's asset seizure tax has already cost the state $16.4 billion per year in lost revenue—and it hasn't even passed yet.
Cities skim $300 million a year in fees from affordable housing projects, then wonder why we can't house families.
The Robinhood CEO says he loves this state. That's why his warning should terrify Sacramento.
Even Gavin Newsom admits taxing billionaires will backfire. Europe already proved it. Why won't Sacramento listen?
Inherited wealth wants to destroy builders while protecting their own loopholes. The data exposes the fraud.
Private polls show 80-90% of billionaires already gone or leaving. This isn't about the rich—it's about California's survival.
A quiet amendment to the "Billionaire Tax" would force founders to go bankrupt or surrender control of their companies.
Per capita spending jumped from $4,350 to $12,940 while population grew just 11%. Where did all that money go?
One in 12 UCSD freshmen can't do middle school math—and 25% of them had perfect 4.0 GPAs in high school.