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California Wealth Tax Backers Ignore Proposition 13 Lessons
While the tax would be a “one-time event,” nothing would prohibit similar initiatives in the future.
California is flirting with a new and destructive tax. A proposed ballot initiative, the 2026 Billionaire Tax Act, would impose a one-time 5% levy on the net worth of California residents with more than $1 billion, calculated as of Jan. 1, 2026, with payment due in 2027 and an option to spread payments over five years at an added charge.
While the tax would be a “one-time event,” nothing would prohibit similar initiatives in the future. Supporters call it a tax on billionaires, but in practice it would be a giant, government-mandated liquidation event for people whose wealth is often tied up in illiquid business equity. It also contains a feature that should make any taxpayer uneasy: It would be retroactive to the start of 2026.
Politics
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Is American Nationalism Still Creed-able?
We are not there now, but there is reason to worry that the United States is in danger, if we are not careful, of ceasing to be a nation with the principles of 1776 at its core.
National Civitas Institute Poll: Americans are Anxious and Frustrated, Creating a Challenging Environment for Leaders
The poll reveals a deeply pessimistic American electorate, with a majority convinced the nation is on the wrong track.
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Can Britain’s Next Prime Minister Escape the Net Zero Trap?
Britain has burned through five Prime Ministers and is paying some of the highest electricity prices in the world.
The Scanner at the Gate: Europe’s China Policy Litmus Test
China’s industrial policy is entering Europe through public procurement—and reshaping sensitive markets from within.
Confronting the New Antisemitism
"The postwar effort 'to rebrand Judaism as a religion' has made it impossible for American Jews to understand what they are facing today, because what we are facing today is an attack on the idea of Jewish peoplehood.”
“Democratic” Socialism Is Undemocratic
By promoting class hatred, suppressing private initiative, and seeking enhanced control of our lives, today’s democratic socialists undermine patriotism and individual initiative—two qualities that have long distinguished the United States from other major nations.
