I am shocked by your behind-the-scenes efforts to defend Peter Thiel and Mark Zuckerberg at the expense of Californians' health.
Just months before a crucial election for US democracy, you are on the verge of handing Trump a major ideological victory. 🧵
It all began in July 2025, when Donald Trump signed into law the "One Big Beautiful Bill Act":
The budget package that slashed funding for Medicaid, the federal health insurance program for low-income Americans.
To offset these devastating cuts, SEIU-UHW organized a ballot initiative calling for a one-time 5% tax on California's ~200 billionaires.
For them, it would be a tiny sacrifice: their wealth has increased by more than 150% in just the past 2 years.
For California, however, it would be enormous: $100 billion in tax revenue.
Unsurprisingly, California's billionaires poured vast sums of money into efforts to block the ballot initiative and kill the one-time 5% tax.
Peter Thiel, for example, donated $3 million.
Sergey Brin contributed $45 million, and so on.
So far, however, they have failed miserably.
Despite their mobilization, the billionaire tax initiative has officially gathered enough signatures to qualify for California's November ballot.
Unless it is withdrawn by Thursday, June 25, Californians will vote on the measure this November.
That alone would already be a major victory for democratic forces.
Some billionaires, such as Jensen Huang, are perfectly fine with this tax.
Yet you are now devoting all your energy to preventing this ballot initiative from taking place and denying Californians the opportunity to express their democratic will this November.
You have chosen to protect California's billionaires at the expense of Californians' health.
It will be difficult to claim that you are fighting Trump and the excessive political power of America's oligarchy while simultaneously acting as the chief advocate for the interests of California's billionaires.
Trolling Trump and America's oligarchs on X is one thing. Actually fighting them is another.
You are defending the tech giants at a moment of unprecedented wealth accumulation at the top—do I need to remind you that Musk became a trillionaire last week?—and when Silicon Valley's influence over Trump's politics is becoming increasingly visible.
As you well know, California's billionaire wealth has exploded.
Since 1982, the wealth of California's billionaire class—the top 0.0002%—has increased thirtyfold.
California's billionaires now own $2.3 trillion in wealth, equivalent to roughly 50% of the state's GDP and about 10% of all wealth in California.
Extreme wealth in the United States has now reached levels never seen before — not even during the Gilded Age of the late nineteenth and early twentieth centuries, when railroad, finance, and oil magnates dominated the economy through their monopolies.
One might assume that such enormous wealth translates into substantial tax payments.
It does not.
California billionaires paid, on average, just 0.2% of their wealth in California income taxes between 2023 and 2025, representing only 2.4% of total state income tax revenue.
California's 4 super-billionaires pay only 0.07% of their wealth in California income taxes each year—a mere 0.2% of total state income tax revenue.
They pay a pittance to the state that made them rich.
It is as though they live in a parallel society.
If you succeed in blocking California's billionaire tax, you will hand Trump an unexpected ideological and political victory.
An ideological victory because you will validate and amplify the familiar conservative arguments against taxing great fortunes: the threat of capital flight, tax avoidance, harm to growth, etc
Yet instead of reinforcing these arguments, you could have chosen to challenge them.
Take the risk of tax flight, a classic objection.
It is effectively nonexistent.
The 5% one-off tax would apply only to billionaires residing in California as of January 1st of 2026. It is impossible to escape it!
Then there is the argument about tax avoidance.
Won't the ultra-rich, advised by armies of highly paid lawyers, simply find loopholes?
No. The measure is airtight, applying to the entirety of a billionaire's wealth.
3/4 of that wealth consists of publicly traded stock, straightforward to value.
What about innovation?
Will California "miss the AI revolution"?
The claim is absurd.
Since the ballot initiative was announced, according to Pitchbook data, venture capital funding going to California has exploded!
Instead of helping Democrats challenge the standard libertarian and MAGA talking points on this issue, you are helping reinforce them.
That is difficult to understand.
And beyond the ideological victory you risk handing Trump, you may also be giving him a political victory.
Why? Because the California ballot could well become one of the defining political issues of the midterm elections.
It would weaken the very person you claim to oppose: Donald Trump.
If the "Yes" prevails, California's tax could quickly inspire similar efforts in other states.
Ultimately, that process could pave the way for a federal tax on extreme wealth.
This is precisely what happened more than a century ago with the progressive income tax.
In 1978, California stood at the forefront of the anti-tax revolt by approving the famous Proposition 13, which capped property taxes and foreshadowed the conservative revolution that would sweep the rest of the country a few years later.
Half a century later, history may repeat itself—but in reverse.
Dear @gavinnewsom, I urge you not to obstruct the ballot initiative on the one-time tax on California's billionaires.
Let Californians have their say!
Keep President Biden's warning in mind:
"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms and a fair shot for everyone to get ahead."
Extreme wealth is always extreme power:
The power to stifle competition.
The power to shape public discourse.
The power to influence public policy.
The power to buy elections.
As the AI boom mints new billionaires by the day and the first trillionaires come into view, one thing is becoming increasingly clear:
The struggle between democracy and oligarchy will be the defining conflict of the twenty-first century.
Dear @gavinnewsom, the November 2026 vote could mark the beginning of a global movement to end the tax impunity of the ultra-rich.
The world is watching.
In the struggle between democracy and oligarchy, one must choose a side.
I hope you will choose ours.
Hello @gavinnewsom:
I am shocked by your behind-the-scenes efforts to defend Peter Thiel and Mark Zuckerberg at the expense of Californians' health.
Just months before a crucial election for US democracy, you are on the verge of handing Trump a major ideological victory. 🧵It all began in July 2025, when Donald Trump signed into law the "One Big Beautiful Bill Act":
The budget package that slashed funding for Medicaid, the federal health insurance program for low-income Americans.To offset these devastating cuts, SEIU-UHW organized a ballot initiative calling for a one-time 5% tax on California's ~200 billionaires.
For them, it would be a tiny sacrifice: their wealth has increased by more than 150% in just the past 2 years.
For California, however, it would be enormous: $100 billion in tax revenue.Unsurprisingly, California's billionaires poured vast sums of money into efforts to block the ballot initiative and kill the one-time 5% tax.
Peter Thiel, for example, donated $3 million.
Sergey Brin contributed $45 million, and so on.So far, however, they have failed miserably.
Despite their mobilization, the billionaire tax initiative has officially gathered enough signatures to qualify for California's November ballot.Unless it is withdrawn by Thursday, June 25, Californians will vote on the measure this November.
That alone would already be a major victory for democratic forces.
Some billionaires, such as Jensen Huang, are perfectly fine with this tax.Yet you are now devoting all your energy to preventing this ballot initiative from taking place and denying Californians the opportunity to express their democratic will this November.
You have chosen to protect California's billionaires at the expense of Californians' health.It will be difficult to claim that you are fighting Trump and the excessive political power of America's oligarchy while simultaneously acting as the chief advocate for the interests of California's billionaires.
Trolling Trump and America's oligarchs on X is one thing. Actually fighting them is another.You are defending the tech giants at a moment of unprecedented wealth accumulation at the top—do I need to remind you that Musk became a trillionaire last week?—and when Silicon Valley's influence over Trump's politics is becoming increasingly visible.As you well know, California's billionaire wealth has exploded.
Since 1982, the wealth of California's billionaire class—the top 0.0002%—has increased thirtyfold.
California's billionaires now own $2.3 trillion in wealth, equivalent to roughly 50% of the state's GDP and about 10% of all wealth in California.Extreme wealth in the United States has now reached levels never seen before — not even during the Gilded Age of the late nineteenth and early twentieth centuries, when railroad, finance, and oil magnates dominated the economy through their monopolies.One might assume that such enormous wealth translates into substantial tax payments.
It does not.
California billionaires paid, on average, just 0.2% of their wealth in California income taxes between 2023 and 2025, representing only 2.4% of total state income tax revenue.California's 4 super-billionaires pay only 0.07% of their wealth in California income taxes each year—a mere 0.2% of total state income tax revenue.
They pay a pittance to the state that made them rich.
It is as though they live in a parallel society.If you succeed in blocking California's billionaire tax, you will hand Trump an unexpected ideological and political victory.
An ideological victory because you will validate and amplify the familiar conservative arguments against taxing great fortunes: the threat of capital flight, tax avoidance, harm to growth, etcYet instead of reinforcing these arguments, you could have chosen to challenge them.
Take the risk of tax flight, a classic objection.
It is effectively nonexistent.
The 5% one-off tax would apply only to billionaires residing in California as of January 1st of 2026. It is impossible to escape it!Then there is the argument about tax avoidance.
Won't the ultra-rich, advised by armies of highly paid lawyers, simply find loopholes?
No. The measure is airtight, applying to the entirety of a billionaire's wealth.
3/4 of that wealth consists of publicly traded stock, straightforward to value.What about innovation?
Will California "miss the AI revolution"?
The claim is absurd.
Since the ballot initiative was announced, according to Pitchbook data, venture capital funding going to California has exploded!Instead of helping Democrats challenge the standard libertarian and MAGA talking points on this issue, you are helping reinforce them.
That is difficult to understand.
And beyond the ideological victory you risk handing Trump, you may also be giving him a political victory.Why? Because the California ballot could well become one of the defining political issues of the midterm elections.
It would weaken the very person you claim to oppose: Donald Trump.If the "Yes" prevails, California's tax could quickly inspire similar efforts in other states.
Ultimately, that process could pave the way for a federal tax on extreme wealth.
This is precisely what happened more than a century ago with the progressive income tax.In 1978, California stood at the forefront of the anti-tax revolt by approving the famous Proposition 13, which capped property taxes and foreshadowed the conservative revolution that would sweep the rest of the country a few years later.
Half a century later, history may repeat itself—but in reverse.Dear @gavinnewsom, I urge you not to obstruct the ballot initiative on the one-time tax on California's billionaires.
Let Californians have their say!Keep President Biden's warning in mind:
"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms and a fair shot for everyone to get ahead."Extreme wealth is always extreme power:
The power to stifle competition.
The power to shape public discourse.
The power to influence public policy.
The power to buy elections.As the AI boom mints new billionaires by the day and the first trillionaires come into view, one thing is becoming increasingly clear:
The struggle between democracy and oligarchy will be the defining conflict of the twenty-first century.Dear @gavinnewsom, the November 2026 vote could mark the beginning of a global movement to end the tax impunity of the ultra-rich.
The world is watching.
In the struggle between democracy and oligarchy, one must choose a side.
I hope you will choose ours.
yes
Hello @gavinnewsom:
I am shocked by your behind-the-scenes efforts to defend Peter Thiel and Mark Zuckerberg at the expense of Californians' health.
Just months before a crucial election for US democracy, you are on the verge of handing Trump a major ideological victory. 🧵 ... It all began in July 2025, when Donald Trump signed into law the "One Big Beautiful Bill Act":
The budget package that slashed funding for Medicaid, the federal health insurance program for low-income Americans. ... To offset these devastating cuts, SEIU-UHW organized a ballot initiative calling for a one-time 5% tax on California's ~200 billionaires.
For them, it would be a tiny sacrifice: their wealth has increased by more than 150% in just the past 2 years.
For California, however, it would be enormous: $100 billion in tax revenue. ... Unsurprisingly, California's billionaires poured vast sums of money into efforts to block the ballot initiative and kill the one-time 5% tax.
Peter Thiel, for example, donated $3 million.
Sergey Brin contributed $45 million, and so on. ... So far, however, they have failed miserably.
Despite their mobilization, the billionaire tax initiative has officially gathered enough signatures to qualify for California's November ballot. ... Unless it is withdrawn by Thursday, June 25, Californians will vote on the measure this November.
That alone would already be a major victory for democratic forces.
Some billionaires, such as Jensen Huang, are perfectly fine with this tax. ... Yet you are now devoting all your energy to preventing this ballot initiative from taking place and denying Californians the opportunity to express their democratic will this November.
You have chosen to protect California's billionaires at the expense of Californians' health. ... It will be difficult to claim that you are fighting Trump and the excessive political power of America's oligarchy while simultaneously acting as the chief advocate for the interests of California's billionaires.
Trolling Trump and America's oligarchs on X is one thing. Actually fighting them is another. ... You are defending the tech giants at a moment of unprecedented wealth accumulation at the top—do I need to remind you that Musk became a trillionaire last week?—and when Silicon Valley's influence over Trump's politics is becoming increasingly visible. ... As you well know, California's billionaire wealth has exploded.
Since 1982, the wealth of California's billionaire class—the top 0.0002%—has increased thirtyfold.
California's billionaires now own $2.3 trillion in wealth, equivalent to roughly 50% of the state's GDP and about 10% of all wealth in California. ... Extreme wealth in the United States has now reached levels never seen before — not even during the Gilded Age of the late nineteenth and early twentieth centuries, when railroad, finance, and oil magnates dominated the economy through their monopolies. ... One might assume that such enormous wealth translates into substantial tax payments.
It does not.
California billionaires paid, on average, just 0.2% of their wealth in California income taxes between 2023 and 2025, representing only 2.4% of total state income tax revenue. ... California's 4 super-billionaires pay only 0.07% of their wealth in California income taxes each year—a mere 0.2% of total state income tax revenue.
They pay a pittance to the state that made them rich.
It is as though they live in a parallel society. ... If you succeed in blocking California's billionaire tax, you will hand Trump an unexpected ideological and political victory.
An ideological victory because you will validate and amplify the familiar conservative arguments against taxing great fortunes: the threat of capital flight, tax avoidance, harm to growth, etc ... Yet instead of reinforcing these arguments, you could have chosen to challenge them.
Take the risk of tax flight, a classic objection.
It is effectively nonexistent.
The 5% one-off tax would apply only to billionaires residing in California as of January 1st of 2026. It is impossible to escape it! ... Then there is the argument about tax avoidance.
Won't the ultra-rich, advised by armies of highly paid lawyers, simply find loopholes?
No. The measure is airtight, applying to the entirety of a billionaire's wealth.
3/4 of that wealth consists of publicly traded stock, straightforward to value. ... What about innovation?
Will California "miss the AI revolution"?
The claim is absurd.
Since the ballot initiative was announced, according to Pitchbook data, venture capital funding going to California has exploded! ... Instead of helping Democrats challenge the standard libertarian and MAGA talking points on this issue, you are helping reinforce them.
That is difficult to understand.
And beyond the ideological victory you risk handing Trump, you may also be giving him a political victory. ... Why? Because the California ballot could well become one of the defining political issues of the midterm elections.
It would weaken the very person you claim to oppose: Donald Trump. ... If the "Yes" prevails, California's tax could quickly inspire similar efforts in other states.
Ultimately, that process could pave the way for a federal tax on extreme wealth.
This is precisely what happened more than a century ago with the progressive income tax. ... In 1978, California stood at the forefront of the anti-tax revolt by approving the famous Proposition 13, which capped property taxes and foreshadowed the conservative revolution that would sweep the rest of the country a few years later.
Half a century later, history may repeat itself—but in reverse. ... Dear @gavinnewsom, I urge you not to obstruct the ballot initiative on the one-time tax on California's billionaires.
Let Californians have their say! ... Keep President Biden's warning in mind:
"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms and a fair shot for everyone to get ahead." ... Extreme wealth is always extreme power:
The power to stifle competition.
The power to shape public discourse.
The power to influence public policy.
The power to buy elections. ... As the AI boom mints new billionaires by the day and the first trillionaires come into view, one thing is becoming increasingly clear:
The struggle between democracy and oligarchy will be the defining conflict of the twenty-first century. ... Dear @gavinnewsom, the November 2026 vote could mark the beginning of a global movement to end the tax impunity of the ultra-rich.
The world is watching.
In the struggle between democracy and oligarchy, one must choose a side.
I hope you will choose ours.
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