Important facts and considerations I discuss with @realjonslavet here - Prop 40 CA wealth tax will on net lose revenue for the state when you consider lost income taxes of departed billionaires - Entrepreneurs like @parkerconrad have advised founders to leave CA because of the possible wealth tax - Investors like @mcuban are requiring founding teams not to be located in CA if they want capital - State will spend billions litigating. Example: Zuckerberg left CA in Feb 2026, late relative to 1/1/2026 cutoff date, but no way he is simply forking over $12B without a contest - You have to consider well-being of Californians if jobs or future jobs are destroyed for a little revenue today. If you raise $1 and kill 100,000 jobs, that's bad for people. - Stated reason for Prop 40 is need for emergency revenues due to federal gvt cuts to Medi-Cal in OBBBA. But Medi-Cal spending has more than doubled since 2019 (up 2.2x). Federal gvt contributions to Medi-Cal have also more than doubled (2.1x) and will continue to grow but their rate of growth will slow. Not a fiscal emergency, more like a health worker union money grab. Whole video link ⬇️

Why does everything cost more today? It’s not just inflation. Regulation quietly acts like a hidden tax across the economy. Every extra freight mandate, permitting delay, compliance burden, and transportation bottleneck raises costs for: food energy housing consumer goods In Episode 169 of the Let People Prosper Show, I talk with @EconPatrick of the @HooverInst to break down how excessive regulation slows growth, weakens productivity, and raises prices for everyday Americans. Good policy should focus on measurable outcomes—not symbolic rulemaking. 1/