Jessica Tarlov

I can't wait to see you go out there and say, you guys, this will make you happier if I take 5% of your assets.

I just want to quickly give some background though for our listeners.

So this is a proposed ballot initiative.

It's being shopped around by the SEIU, the union.

It would be a one-time 5% tax on the estimated 255 billionaires in California.

It wouldn't tax income.

It would just tax assets.

The idea or where they came up with this is to try to claw back some of the money for health care that's stripped away in the Big Beautiful Bill, which will come fully into effect this year.

About 90 cents of every dollar raised by the tax would be spent on health care, while the remaining 10 cents would be earmarked for food assistance or education.

as per the proposal.

What's interesting about Khanna backing it is Gavin Newsom is not.

So he's against a wealth tax.

He has been consistently, he's on the record for several years.

And wealth taxes have been tried all over the world, France, Sweden, Austria, Denmark, Germany, Netherlands, Finland, Iceland.

They all discarded their wealth taxes and said, to your point about

the specific cases well we have to make sure that in this case we don't do this it was basically too hard to administer and it was bringing in not enough money to make it worthwhile um which i didn't know and thought was interesting for the amount of folks that are prominent especially on the left that talk like this like the bernie sanders's and the elizabeth warren's of the world um

A lot of countries that they think are run better than we are have scrapped their wealth taxes.

Health care over private jets seems like a pretty easy sell to basically everyone that votes except a few of the private jet owners.

I just quickly before we go, I'm curious, what are you thinking about for 2028?

Are there any candidates or potential candidates in particular that you're interested in?