Daily Transmission - The Irony of the Billionaire Beast

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📌 Receipts 


California’s Billionaire Tax Proposal

•  California’s controversial wealth tax proposal leaves billionaires with little way out - CNBC  : Details on the proposed one-time 5% tax on net worth over $1 billion.

•  California’s proposed Billionaire Tax Act ballot initiative - PwC  : Overview of the ballot measure, including phasing and revenue estimates.

•  25-0024A1 (Billionaire Tax) - California Department of Justice  : Official text of the proposed initiative, including tax rates and billionaire effective tax comparisons.

•  Expert Report On The California 2026 Billionaire Tax: Revenue, Economic, and Constitutional Analysis  : Economic analysis from UC Berkeley on the tax’s structure and impacts.

•  First Look: Understanding the Governor’s Proposed 2026-27 California Budget  : Breakdown of the projected $2.9 billion deficit and spending priorities.

•  Governor Newsom announces proposed budget that refills the state’s “Rainy Day Fund,” protects previous accomplishments, and makes historic investments in education  : Official state announcement on the $348.9 billion balanced budget proposal.

•  Gavin Newsom forecasts a rosier California budget and banks on AI boom continuing  : Analysis of the “modest” $2.9 billion deficit and education spending increases.

•  ‘Silicon Six’ accused of avoiding almost $278bn in US corporation taxes over 10 years - The Guardian  : Report on tax avoidance by Amazon, Meta, Alphabet, Apple, and others.

•  The Spotty International Tax Record of Big U.S. Technology Companies - Council on Foreign Relations  : Discussion of foreign profit shifting by tech giants like Apple and Microsoft.

•  Fifteen Companies Each Avoided More than $1 Billion in Taxes from a Single Trump Tax Cut – ITEP  : Examples of tech firms like Meta and Microsoft benefiting from tax loopholes.

•  Silicon Six: Three ways to close big tech’s enduring tax gap - Fair Tax Foundation  : Strategies to address ongoing tax avoidance in the tech sector.

•  Gig work: No one’s enforcing Prop. 22 in California - CalMatters  : Critique of Prop 22’s implementation and lack of enforcement for pay and benefits.

•  2020 California Proposition 22 - Wikipedia  : Summary of the ballot measure classifying gig workers as independent contractors.

•  Prop 22 Depresses Wages and Deepens Inequities for California Workers - National Equity Atlas  : Analysis showing lower effective wages for rideshare drivers under Prop 22.

•  How Prop. 13 gave California’s richest corporations a multibillion-dollar tax break they didn’t want - CalMatters  : Explanation of how Prop 13 benefits large corporations with outdated assessments.

•  Proposition 13 - LA County Assessor  : Official overview of Prop 13’s 1% tax limit and assessment rules.

•  California Property Tax: An Overview - Board of Equalization  : Details on Prop 13’s impact on real property taxes since 1978.

•  California sees drop in unsheltered homelessness, bucking national trend and federal headwinds  : State report on a 9% drop in unsheltered homelessness in 2025.

•  Homeless Population by State 2026 - World Population Review  : Statistics showing California’s ~161,548 homeless population, highest in the U.S.

•  California’s Response: Facts About Homelessness - California Health Care Foundation  : Data on 339,087 experiencing homelessness in 2023, with demographics.

•  Financing California’s Public Schools - Public Policy Institute of California  : California’s ranking as 16th in per-pupil spending, up from lower historical ranks.

•  Per Pupil Spending by State 2026 - World Population Review  : National comparisons, with California at ~$14,840 per pupil.

•  K-12 Education Spending Spotlight 2025: Annual public school spending nears $1 trillion - Reason Foundation  : California as one of eight states spending over $25,000 per student.

•  A Wealth Tax Floated in California Has Billionaires Thinking of Leaving - The New York Times  : Coverage of billionaires like Larry Page considering exits due to the tax proposal.

•  Do Billionaires Really Move To Avoid Wealth Taxes? - Forbes  : Analysis questioning if wealth taxes truly cause mass exoduses.

•  Wealth tax threat prompts at least six billionaires to cut ties with California, with about 20 more mulling exit: report  : Report on ~20 billionaire families considering departure.

•  Legal Loopholes: How Corporations Reduce Their California Tax Bill - California Budget and Policy Center  : Ideas like closing the “water’s edge” loophole for multinational corporations.

•  Gavin Newsom’s intriguing proposal to close a tax loophole - CalMatters  : Discussion of closing loopholes for wealthy individuals to avoid state income taxes.

•  Four-Part Series Exposes How Corporate Tax Loopholes Drain Resources from Californians - California Budget and Policy Center  : Series on loopholes like profit shifting and potential revenue gains from reforms.

•  A Simple Fix for a $17 Billion Loophole: How States Can Reclaim Revenue Lost to Tax Havens - Institute on Taxation and Economic Policy  : National strategies applicable to California for addressing tax havens and inversions.

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