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Newsom's Billionaire Tax Math Doesn't Add Up

2026-07-07 News & Politics
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Valuetainment
Valuetainment
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Description

California wants to raise $100 billion through a new billionaire wealth tax, but is it really just 5%? Patrick Bet-David breaks down the numbers, explains why the effective cost may be much higher, and explores what the proposal could mean for billionaires, taxpayers, and the state's economy. -------------- 🎟️ SECURE YOUR 2026 VAULT TICKETS: https://bit.ly/4xU2SCW 👕 SHOP LATEST VT MERCH: https://bit.ly/40hqHoi ⚽️ SHOP THE USA 250 COLLECTION: https://bit.ly/4g0bfWY 😆 CHECK OUT VENTING WITH VINNIE: https://youtube.com/live/XTIx7FCjl_8 🦁 SPONSOR THE VAULT 2026: https://bit.ly/4mFBPpw Ⓜ️ CONNECT ON MINNECT: ⁠⁠https://bit.ly/4kSVkso Ⓜ️ PBD PODCAST CIRCLES: https://bit.ly/4mAWQAP 👔 BET-DAVID CONSULTING: https://bit.ly/4lzQph2 🥃 BOARDROOM CIGAR LOUNGE: https://bit.ly/4pzLEXj 🇰 KALSHI: ⁠http://kalshi.com/pbd⁠ SUBSCRIBE TO: @VALUETAINMENT @ValuetainmentComedy ABOUT US: Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.

Top Comments (10)

@John-zc2my 2026-07-07

California should be the best state in the country. It’s a shame politicians have ruined it.

87 23 replies
@JReaf 2026-07-07

It’s not a Billionaires tax that’s the Bait .. on page 26 of this bill they can change it to an Everybody tax . Go to Reform California or Ramin Real Talk they explain it … It’s right there in black and white VOTE NO ON THIS !!!!

54 5 replies
@kajagoogoo9613 2026-07-07

Where's the high speed rail, Scammin Gruesome?

47 2 replies
@JohnnyChapo 2026-07-07

French Laundry… enough said

29
@lizthewiz6806 2026-07-07

You should have mentioned that Newsom vetos audits of the state’s finances. Money goes in and disappears.

27 6 replies
@OOO-pc3nb 2026-07-07

Voting has consequences. More people would leave CA but they can't afford too.

25 1 replies
@scottwilson9404 2026-07-08

Politicians need to eliminate the bloat, fraud and waste before they come after more of my money.

16 1 replies
@zyntolaz 2026-07-08

Problem is *SPENDING* not revenue. You will *NEVER* fix this taxing BS unless you fix the problems of spending *TOO MUCH.*

14
@WebbTime 2026-07-07

I left California because of Newsome and those like him. God help us if he becomes president and does to the United States what he did to CA. And that's not even talking about all the theft and corruption. That's just the poor management.

9
@peter3800 2026-07-08

It's always " Smoke and Mirrors" with Politicians

3

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