The Journal.

California Billionaires Are Freaking Out Over a New Tax Proposal

February 12, 2026·18 min·4-min readnarrativenews
Podzilla Summary (4 min)
TLDR
A proposed one-time 5% tax on billionaires’ assets in California has ignited a fierce debate over wealth, responsibility, and the state’s future, emerging as a response to a looming $100 billion Medicaid funding shortfall. The measure, while still needing voter approval, has already trigg

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Guest

L

Laura Nelson

narrative on The Journal.

Mentions

Books, people, and resources mentioned in this episode.

People

Laura NelsonDavid SachsLarry PageGavin Newsom

Companies

NVIDIARippleStop the Squeeze

Topics

EconomicsFederal ReservePolitical News

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