Episode 48: The Billionaire Tax That Isn't, and the Two-Thirds Rule That Could Change Everything

September 9
12 mins

Episode Description

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In a rare episode where Brian and John agree on both topics, the brothers break down two major measures on California's November 2026 ballot. Proposition 40 — the SEIU-backed wealth tax imposing a one-time 5% levy on Californians worth over $1 billion. Sounds simple, but both brothers call it a trojan horse. John warns it gives the legislature power to expand to savings, home equity, and retirement accounts, lower the threshold, and make it annual. Even Newsom and Becerra oppose it. Both predict it fails, but not by a landslide.

Then there's Proposition 43, the Local Taxpayer Protection Act backed by Howard Jarvis Taxpayers Association. It would close a court-created loophole allowing citizen-initiated special taxes to pass with a simple majority rather than two-thirds. John calls it a game changer. Both predict it passes.

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To learn more about John Kabateck's firm visit Kabateck Strategies
To learn more about Brian's firm visit KBK Law

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