Should California Impose a Tax on Billionaires?
We talk about how the proposed one-time "wealth tax" would work and what the risks and benefits might come from a new levy on the state’s wealthiest residents.
January 21, 2026
54 min
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3,176 of 3,393
January 21, 2026
Should California Impose a Tax on Billionaires?
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Should California Impose a Tax on Billionaires?
Summary
A California health care union is campaigning for a ballot measure that would impose a one-time “wealth tax” on the state’s roughly estimated 200 billionaires. The proposal is meant to shore upfunding for health programs facing severe cuts because of federal funding reductions. But it’s stirring opposition from Governor Gavin Newsom, who says the tax could harm the state’s economy. We talk about how the tax would work and what the risks and benefits might come from a new levy on the state’s wealthiest residents.
Guests:
Marisa Lagos, politics correspondent, KQED; co-host, KQED's Political Breakdown
Ryan Mac, tech reporter based in Los Angeles, The New York Times; co-author, “Character Limit: How Elon Musk Destroyed Twitter”
Suzanne Jimenez, chief of staff, SEIU United Healthcare Workers West
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