Tagged: california

November 4, 2026 @ 1:45 pm By JD Alois  |  

The California Confiscation tax, or wealth tax, appears to be headed for defeat. While final results are pending because of mail-in ballots, the current approval gap suggests the tax likely won’t pass. Proposition 40 was created to punish affluence in California. It would assess a… Read More

November 3, 2026 @ 11:39 am By JD Alois  |  

Election day is here, and in California, a key ballot measure that could harm the innovation ecosystem the world envies is on the ballot. The California Confiscation Tax, or “wealth tax” (Proposition 40), could push innovators and investors further away from the Golden State. The… Read More

October 26, 2026 @ 1:09 pm By Omar Faridi  |  

California’s Department of Financial Protection and Innovation has formally opposed a Securities and Exchange Commission proposal that would create new federal exemptions for certain cryptocurrency-related securities offerings. In a comment letter filed on the October 20, 2026 deadline, state officials argued that the plan, known… Read More

October 24, 2026 @ 8:49 pm By Omar Faridi  |  

A recent US Securities and Exchange Commission (SEC) filing from Meta Platforms (NASDAQ: META) has laid bare a months-long, often tense negotiation between Mark Zuckerberg and a special committee of the company’s independent directors over how to raise equity capital for an enormous artificial intelligence… Read More

September 29, 2026 @ 9:43 pm By Omar Faridi  |  

California Governor Gavin Newsom has approved a package of ethics and consumer protection measures that includes a first-of-its-kind state ban on public officials issuing memecoins. The announcement from his office on September 27, 2026, was framed in blunt political terms as “THE OPPOSITE OF TRUMP,”… Read More

September 10, 2026 @ 6:01 pm By JD Alois  |  

There has been much discussion about California’s shortcomings and the rise of the Sunshine State. While California has incredible natural beauty, it falls short in governance, infrastructure, and tax burdens. Florida, by contrast, has a balanced budget, no income taxes, and is expected to soon… Read More

August 27, 2026 @ 10:46 am By JD Alois  |  

Coinbase (NASDAQ:COIN) CEO Brian Armstrong addressed the proposed confiscation tax in California, calling it “deeply un-American” and saying he is considering leaving the state. The comments were made during the Katie Miller Podcast, where Armstrong addressed a litany of issues surrounding crypto and the policies that impact… Read More

August 17, 2026 @ 2:51 pm By Omar Faridi  |  

Western Union (NYSE: WU) has secured a key regulatory green light from New York authorities for its planned purchase of International Money Express, commonly known as Intermex, yet the transaction now confronts fresh obstacles in California that could postpone its completion. The roughly $500 million… Read More

August 3, 2026 @ 7:19 pm By JD Alois  |  

The California Confiscation tax, which is slated to be on the ballot this coming November, has gained the support of the California Democrat party. This past June, the “billionaire tax” earned sufficient signatures to move the issue to a ballot vote, evading the state legislature…. Read More

June 19, 2026 @ 1:57 pm By JD Alois  |  

This week the State of California revealed that it had validated sufficient signatures to place the proposed confiscation tax on the ballot this coming November. This means the likelihood the abusive  tax will become law. The tax was created by several economists seeking to  generate… Read More

June 18, 2026 @ 12:05 pm By JD Alois  |  

The confiscation tax proposed in California has gathered enough signatures to place the issue on the November ballot. The tax initially targets wealthy individuals worth over $1 billion. As it is typical to have this type of wealth held in shares, frequently private shares with… Read More

April 30, 2026 @ 1:00 am By Omar Faridi  |  

The US Justice Department announced that a 22-year-old resident of Newport Beach, California, was sentenced April 24 in federal court in Washington, D.C., to more than five years behind bars for his central role in cleaning dirty money from one of the largest social-engineering fraud… Read More

March 29, 2026 @ 1:06 pm By Omar Faridi  |  

California Governor Gavin Newsom has taken decisive action to safeguard public integrity by issuing an executive order that explicitly forbids state appointees from exploiting confidential information for financial gain on prediction market platforms. Signed on March 27, 2026, the directive immediately reinforces longstanding ethics standards… Read More

March 3, 2026 @ 6:14 pm By JD Alois  |  

A “wealth tax,” which is really a confiscation tax that seeks to tax unrealized capital gains, has never worked anywhere. Yet, some policymakers and special interest groups are pursuing this self-destructive policy with California leading the way. As California’s state budget is mired in debt… Read More

February 17, 2026 @ 10:53 am By JD Alois  |  

A wealth confiscation tax has never been widely successful anywhere it has ever been attempted. Yet, some policymakers and pundits continue to support the concept of taxing unrealized gains and wealth thresholds. As the Laffer Curve explained decades ago, excessive taxation will have the opposite… Read More

February 10, 2026 @ 9:39 am By JD Alois  |  

The California confiscation tax is doing wonders for at least one state. That would be Florida. The confiscation tax is designed to take money from wealthy residents by taxing unrealized gains and total wealth. As California remains an economy driven by innovation and entrepreneurship, wealthy… Read More

January 26, 2026 @ 2:39 pm By JD Alois  |  

A group called “Pissed Off at Ro“ has been created to challenge Representative Ro Khanna, a vocal supporter of the California confiscation tax, which has been proposed. The new group was recently promoted by Garry Tan, CEO of VC firm YCombinator, who has been posting… Read More

January 22, 2026 @ 5:23 pm By Omar Faridi  |  

Aven, a San Francisco Bay Area-based fintech company founded in 2019, is committing several million dollars to create a new federal credit union called Haven FCU. This initiative, spearheaded by Aven’s cofounder and CEO Sadi Khan, underscores a growing belief in the potential of credit… Read More

January 20, 2026 @ 2:56 pm By JD Alois  |  

The Tax Foundation, a nonpartisan nonprofit that produces research on taxes, says the California wealth tax may be far more punitive than the stated 5% on the affluent’s holdings. As it stands now, a 5% tax on an individual’s worth will be applied if the… Read More

January 16, 2026 @ 4:17 pm By JD Alois  |  

California has a lot going for it. Beautiful beaches, mountains, and parks. Awesome weather. And the most powerful startup and innovation ecosystem in the world. And for some reason, the state of California is working hard to destroy its entrepreneurial hub of prosperity and growth… Read More