California Dems Endorse Plan to Nuke Tech Industry, Drive Out Billionaires
Illegal, insane and now likely to pass.
August 3, 2026 by Daniel Greenfield 5 Comments
The so-called California ‘billionaire tax’ isn’t a tax, it’s a massive and illegal wealth confiscation program that would likely nuke much of the tech industry and trickle down to just about anyone wealthy, which as we’ve already seen in New York under Mamdani will quickly translate to anyone who owns their own home or has even moderate assets.
It was a fringe policy backed by leftist health care unions, but like all fringe policies, was adopted by a radicalized Democrat Party.
And despite opposition from Gov. Gavin Newsom and anyone who can do basic math, the California Democrat Party has come out in favor of it.
What that means is this thing will almost certainly pass. More tech billionaires will exit California, taking more pieces of the tech industry with them, and the state will be mired in litigation over what is likely an illegal and unenforceable wealth confiscation scheme.
https://www.frontpagemag.com/california-dems-endorse-plan-to-nuke-tech-industry-drive-out-billionaires/
