Tag: taxes

California’s ‘Wealth’ Tax Is Coming For Everyone

If you own property in California, you’re not safe. A new ballot measure will empower the state to confiscate a percentage of the assets of any resident, even though its initial provisions don’t communicate that intent. California’s “One-Time Wealth Tax for State-Funded Healthcare, Education, and Food Assistance Programs Initiative,” which has already qualified for the November ballot, is even worse than it appears.

It’s not as if appearances aren’t bad enough. The explicit intent of the initiative already chased at least six billionaires out of the state in 2025. Moved to Florida are Google co-founders Larry Page and Sergey Brin, along with PayPal co-founder Peter Thiel. Nevada is now home to billionaire Don Hankey, and Texas has welcomed former Uber CEO Travis Kalanick. Famed director Steven Spielberg has moved to New York, apparently concluding even that deep blue state is a safer bet than California. Just the departure of these six men has lowered the potential take from the wealth tax by an estimated $27 billion.

A Hoover Institution study claims that another 20 California billionaires have already made departure plans and will leave immediately if the initiative is approved by voters. One of the initiative’s many diabolical provisions is that it will apply retroactively to anyone living in the state after January 1, 2026, but unlike the six who got out in 2025, this next tranche of would-be exiles have been advised by their attorneys that the initiative’s retroactivity will not survive a constitutional challenge.

Other details of this initiative are likely to survive court challenges, and they reveal a stunning level of aggression toward wealth. If you live in California, and this bill is approved by voters, you will have to pay a “one-time” tax of 5 percent of your “covered assets” valued over $1 billion. “Covered assets” include unrealized gains in the value of stock owned by employees of private companies. It is unlikely the framers of this initiative didn’t understand the implications of this provision. Valuations of private companies are subjective, volatile, and illiquid. An employee with stock options valued at a few billion in the last private equity round could be assessed tens of millions of dollars in wealth tax on money they don’t actually have access to, based on a value that could plummet at any moment.

It gets worse. The language of the wealth act provides for what amounts to unrestricted escalation of its reach, something that will surely become necessary when high earners are driven away, taking their taxable assets with them. Built into the 2026 Billionaire Tax Act is the right of the state legislature to amend its provisions with a two-thirds vote. That would include lowering the $1 billion threshold, replacing “one-time” with an annual assessment, and eliminating the exemptions currently present for real estate and retirement accounts. The wording of this initiative is purposely designed to give the state legislature the authority to override the property tax protections afforded by Proposition 13, passed by voters in 1978 and one of the only obstacles left that prevents the state from stripping the state’s middle class of assets they’ve earned and stewarded over generations.

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Taxpayers let off the hook as Newfoundland and Labrador drops equalization lawsuit

The province made the announcement that it was dropping the lawsuit last week after previously seeking additional funding from the federal government through the court challenge.

Terrazzano commented on the implications of the province rescinding its lawsuit, noting the benefit for Canadian taxpayers. “The Newfoundland and Labrador government was suing the federal government, essentially launching this court challenge trying to get the courts to force the federal government to increase the equalization handouts to the province,” he said.

“Newfoundland and Labrador eventually dropped that court case, so it’s a big win for taxpayers … we were intervening in this, because we were arguing like hold on a second right, the constitution was never designed to let provinces sue Ottawa to get bigger handouts from taxpayers,” Terrazzano continued.

“It’s good that Newfoundland and Labrador came to its senses and dropped this court case, because if they were successful, the bill for equalization could have ballooned by billions of dollars and really taxpayers, especially in Alberta, British Columbia, and Saskatchewan, would be on the hook for all this,” he added.

Newfoundland and Labrador’s decision to drop its equalization lawsuit spares Canadian taxpayers from a potential multi-billion-dollar increase in federal transfers. The province’s premier, Tony Wakeham, stated that although he believes the equalization system is flawed, the lawsuit will not be moving forward.

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University of Washington Confirms that NIH-Funded Muscular Dystrophy Experiments on Dogs Have Ended After White Coat Waste Investigation

The University of Washington has confirmed that the portion of its NIH-backed muscular dystrophy experiments on dogs has officially ended, following a major investigation and public pressure campaign by the government watchdog group White Coat Waste (WCW).

The experiments intentionally caused dogs to suffer from muscular dystrophy before killing many of them.

WCW first requested documents on the UW muscular dystrophy dog lab from both the NIH and the university in July and August of last year.

The organization finally received the first tranche of records, including graphic photos and videos, from UW in early April. WCW is still waiting for additional records from the university.

Once those initial documents arrived, WCW immediately released the explosive findings.

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Dr. Oz Says CMS Has Identified at Least $2 BILLION in Healthcare Benefits That Were Stolen by Illegals – DOUBLE What Was Found Last Year

Centers for Medicare and Medicaid Services (CMS) Administrator Dr. Mehmet Oz revealed on Tuesday that his agency has identified now $2 billion in fraudulent healthcare payments that have been given to illegal aliens.

“The number has doubled from what I said last year. We’re about $2 billion,” he told The Gateway Pundit during a White House press briefing, adding that some states are cracking down on the fraud.

“The good news is that many states realize this is a problem, and they themselves have stopped doing this.”

“Some states don’t do as good a job as other states. That’s why we’re looking to individual states for leadership, for better ideas, to deal with many of these social problems that unfortunately begin to pile up over time. And they threaten the very foundation of our social net that supports all of us,” he added.

Oz further touted Vice President JD Vance’s work in exposing the fraud for criminal referral with his White House anti-fraud task force. While speaking at an anti-fraud roundtable with state attorneys general and White House officials last month, Vance revealed staggering numbers his team had discovered, including over $22 billion in fraudulent small business loans, more than $1.3 billion in fraudulent Medicaid reimbursements, $6.3 billion in suspected fraudulent government contracts, and $60 million in student aid fraud.

“He’s taking this seriously. He’s going at it and he’s doing what’s best for the American people by making some tough decisions,” Oz said of Vance.

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Mamdani’s “COGE” commission to prepare deeper cuts to New York City social programs and regulations

On Thursday, Mayor Zohran Mamdani announced the formation of a Committee on Government Efficiency (COGE) to examine the New York City Charter for efficiencies: that is, to search for ways in which social programs can be cut.

“The Commission on Government Efficiency will take a hard look at how City government functions and identify the reforms we need to deliver faster, smarter and more effectively for working people,” Mamdani told the media.

The Charter is essentially New York City’s constitution. It defines what authority belongs to the mayor and other officials and what to the City Council; laws, timelines and mandatory minimum rules for city reserve funds; the multi-step public review process required to build housing, change zoning laws or approve major infrastructure; and the scope, duties and enforcement powers of every city department.

The Charter does not control funding but does dictate the operational rules that heavily control, protect or limit social spending. For example, the Charter legally mandates the existence of agencies like the Department of Social Services and the Human Resources Administration, which a mayor cannot simply abolish to save money. The Charter also sets the exact legal procedures for how the city buys goods and hires outside nonprofits to run homeless shelters, daycare centers and after-school programs.

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All The British Government Does Is Ask ‘Who Can We Tax to Give Benefits to Others’, Mandelson-Epstein Scandal Papers Reveal

A document dump released by the British government because of the Peter Mandelson-Jeffrey Epstein scandal has revealed extensive private conversations among top Labour figures, including one that reveals tunnel-vision obsession with tax raids to pay for endless welfare giveaways.

Internal messages from inside the British Labour government have once again revealed the remarkable perspicacity with which select top figures are able to assess and recognise their own shortcomings and articulate among themselves — when they believe they are speaking in private confidence — precisely what their critics observe in public. Among over 1,500 pages of government text messages and emails released as part of the long tail fallout from the Jeffrey Epstein emails released in the United States, which brought down the British ambassador Peter Mandelson, is a remarkable smoking gun of an exchange where a top Labour figure admits the only real driving force of the government is endless tax extraction to prop up the welfare state.

In a conversation between Peter Mandelson, during his time as ambassador, and Secretary of State for Work and Pensions Pat McFadden, days after a punishing election defeat in May 2025, the pair discuss internal debates within the governing Labour Party. Reflecting on the mood, McFadden messaged Mandelson to say he had observed a “lot of manoeuvring here this week… Doesn’t feel good for Keir”.

Responding, Peter Mandelson, while he apparently enjoyed significant influence from Washington over the workings of the British government back home, led with criticism of Prime Minister Sir Keir Starmer, and said: “Keir is not leading from the front… does he even realise? The [Parliamentary Labour Party, I] gather is in mutinous state”. McFadden replied in turn: “Yes. Every meeting I have is ‘who can we tax in order to pay benefits to others’. They’re asking the wrong questions”.

This revelation of the state of the most senior Labour ministers by a consummate insider is politically radioactive for Labour, given it confirms some of the very most damaging accusations made about it by its political rivals; that its rapacious appetite for tax revenue to fund the welfare state is in part a result of open borders and government failures, while at the same time destroying the economy.

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The Myth of Socialism: USA Standard of Living Higher Than Europe; Wages, Taxes, Crime, and Services

Many people believe Europe has a higher standard of living than the United States. This belief is typically based on several commonly cited arguments, including crime, social welfare systems, healthcare, and transportation infrastructure.

Comparisons between Europe and the United States often focus heavily on government-provided benefits while paying less attention to differences in income, taxation, purchasing power, housing affordability, employment opportunities, and consumer choice. Europe is also frequently discussed as a single entity despite significant differences between countries.

Europe consists of between 44 and 50 countries, depending on the definition used. The most common geographic definition counts 44 sovereign states, while broader definitions that include microstates and transcontinental countries such as Russia and Turkey, as well as countries like Armenia, Azerbaijan, and Georgia, place the total closer to 50.

As an example of how economically diverse Europe is, the richest country, Luxembourg, has a GDP per capita, or average income, of about $140,000 to $160,000 per year, while the poorest country, Moldova, has a GDP per capita of about $8,000 to $10,000.

Supporters of the European model point to universal healthcare, social welfare programs, public transportation, and lower crime rates as evidence of a superior standard of living. These comparisons often overlook higher wages in the United States, lower taxes, larger homes, higher rates of vehicle ownership, and the tradeoffs and advantages associated with different approaches to healthcare and transportation.

Crime is another frequent point of comparison. Many Europeans falsely believe school shootings are a major cause of death in the United States. At the same time, they ignore the fact that parts of Europe are extremely unsafe and that much of Europe has higher levels of theft, pickpocketing, muggings, home invasions, and other categories of crime. Furthermore, European cities that have allowed waves of migrants and asylum seekers from North Africa and Africa have seen sexual crimes and rape increase dramatically.

Healthcare is also central to the debate. Europe is often praised for universal coverage, but wait times in many countries are extremely long, and patients frequently require prior authorization before accessing specialists or advanced treatments. Quality also varies dramatically between countries. At the same time, the majority of Americans are covered through employer-sponsored plans, government programs such as Medicare and Medicaid, or private insurance.

Social welfare systems and transportation infrastructure are also commonly cited as European advantages. Supporters highlight government benefits and extensive public transportation networks.

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California Legislators Shriek: ‘Stop Nick Shirley!’

Without the second Trump Administration, we would surely not have discovered, and most importantly, acted upon, the fraud being committed around the country, most notably in blue states like Minnesota and California. So much has been discovered so rapidly, President Trump appointed Vice President Vance to head an anti-fraud task force, and the DOJ hired additional prosecutors to handle the dramatically increasing number of cases. Federal officials are suggesting the sheer amount of fraud, discovered and yet to be discovered, is so staggering clawing back that money could balance the federal budget.

Instrumental in exposing sufficient fraud so it could no longer be ignored by local or state officials is independent journalist Nick Shirley, who exposed the infamous “Quality Learing Center” day care fraud in Minneapolis, as well as many less well-known fraudulent day cares. So effective was Shirley, and so quickly did his work anger local fraudsters and state officials, Shirley received so many death threats he apparently decided to give California a try. This was the immediate result: 

Independent journalist Nick Shirley has released a devastating 40-minute investigative video that exposes what appears to be massive waste and potential fraud in California’s hospice, Medi-Cal, and daycare programs. His report, now viewed more than 7.7 million times on X, uncovers over $170 million in questionable billings tied to ghost hospice and daycare operations that show virtually no signs of actually caring for patients or children.

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Massachusetts Sues UnitedHealthcare Over Alleged $100 Million Fraud

Massachusetts sued UnitedHealthcare on May 29, alleging the company defrauded the state’s Medicaid program by making seniors appear sicker than they were to secure higher payments.

The company contracted with MassHealth to provide a Senior Care Options—which combines Medicare and Medicaid benefits into one plan—for seniors aged 65 and older.

UnitedHealthcare allegedly received more than $100 million in fraudulent payments from MassHealth between 2015 and 2025, Massachusetts Attorney General Andrea Joy Campbell stated in the complaint.

UnitedHealthcare, a subsidiary of UnitedHealth Group, said the complaint is “meritless and doesn’t accurately describe our Senior Care Options program” in ‌a statement emailed to The Epoch Times.

The legal complaint alleged UnitedHealthcare inflated payment rates in three ways.

Upcoding

Massachusetts paid UnitedHealthcare a per-member, per-month rate for each senior enrolled in the plan based on UnitedHealthcare’s assessments of the member’s health conditions.

UnitedHealthcare allegedly labeled members as having behavioral health disorders such as depression or anxiety, or substance use disorders to gain higher reimbursement rates, according to the complaint, when the members had no diagnosis or treatment on record for such conditions.

An analysis by the attorney general’s office revealed that nearly 30 percent of UnitedHealthcare’s 2014 through 2024 behavioral health assessments lacked any matching medical claims to support the mental health diagnoses reported to the state.

Keeping Overpayments

The insurer’s internal reviews identified that many members were incorrectly placed in the highest and most expensive level of care despite not qualifying for it, according to the lawsuit.

While the company eventually downgraded these members to lower-paying levels, it allegedly failed to inform the state of the prior errors or return the extra money it had already collected.

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Bernie Sanders’ Bill Would Have Government Take Half of AI Companies’ Stock

Artificial intelligence and data centers are the shiny new thing, so of course, in the eyes of Democratic senators like Elizabeth Warren and Bernie Sanders, it’s something new to tax. Socialist Sanders sees dollar signs in front of his eyes, and the progressive media outlet More Perfect Union is happy to announce that Sanders will introduce a bill that will have the government (“the public”) take 50 percent of the stock of the country’s biggest AI companies.

Sounds like communist propaganda, but OK.

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