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Valuetainment

“California’s EVERYONE Tax” - ‘Billionaire’ Tax EXPOSED As Scam On ALL Californians

Valuetainment

Valuetainment Episodes

Business

4.81.7K Ratings

🗓️ 28 April 2026

⏱️ 13 minutes

🧾️ Download transcript

Summary

PBD exposes California’s “billionaire tax” as an “everyone tax,” unpacking Chamath’s warning about 34 pages of fine print that could let the state revalue your assets, hit you with penalties, and quietly expand the levy to all Californians without new voter approval

Transcript

Click on a timestamp to play from that location

0:00.0

Pull up the Shama tweet if you could, Rob.

0:02.3

Pull up the Shemat to Tom.

0:03.5

I'm going to come to you first and then add them to you next.

0:05.2

So here's Shama. We know about the billionaire tax that California is talking about, right? 5% but it's just the billionaires. Just the billionaires. And then Shemad Palapitia posts his tweet that I retweeted. The devil's in the what? You ever hear the line? The devil's under what?

0:20.7

So the billionaire tax is actually on everyone tax.

0:23.7

The billionaire tax is a new tax. the devil's in the what? You ever hear the line? The devil's in the what? So the billionaire

0:21.3

tax is actually on everyone tax. The billionaire tax is a new tax protocol written by four

0:25.9

professors who don't believe in the American dream. Some of them aren't even American. Go

0:29.0

figure despite its name, it applies to every Californian resident who currently has assets

0:33.8

or ever will. The creators named it the billionaire tax so you would get in to a fraud

0:38.8

and wouldn't look closely at what it actually does to you on page 26 it explains how the government

0:44.0

can convert to an everyone tax without voter approval bingo motive they can also just a tax to be a

0:51.8

yearly tax not just a one-time thing again without yourval. Here's how the tax would work as a voter. You're being asked to approve a tax that would require you to, one, list all your assets and the value of each, then submit them to California Franchise Tax Board. Two, authorize the Tax Board to praise your assets and confirm the value of each. 3, pay a penalty of up to 40% of your tax bill if the board determines your report of value was too long.

1:15.6

Their opinion, for, allow the tax board to subpoena your financial records from every one of your financial institutions for auditing.

1:22.6

This everyone tax runs 34 pages of shifty language describing how the government plans to take your assets,

1:29.0

redefine print and decide for yourself. If this were truly a billionaire tax, it would be three pages.

1:34.8

It's 34 pages so it can create the mechanisms to steal from all of you. Go a little bit lower, Rob,

1:40.2

if he has the picture on there or not, I thought he did. California.

1:44.7

I thought he did.

1:47.6

So, Tom, before we find the picture, Tom, your thoughts on this?

1:50.7

Because the average person is like, we should tax the billionaires more.

1:52.2

Where do you stand with this?

...

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