But critics say this move could be disastrous. California already has the nation’s highest income tax rate — and many wealthy residents have already fled the state. Adding a “wealth tax” could accelerate the exodus, shrink the tax base, and make things even worse.
In this episode, Phil covers:
What’s inside the new “Billionaire Tax” proposal
Why Medi-Cal is collapsing financially
How Newsom’s expansion of Medi-Cal to undocumented immigrants exploded costs
What this means for California’s future and whether voters will support it in 2026.
Is this the solution California needs — or another desperate money grab from Sacramento?
#California #CaliforniaPolitics #MediCal #WealthTax #TaxTheRich #SEIU #GavinNewsom #CaliforniaNews #Politics #Healthcare #NewsAnalysis
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