{"id":47895,"date":"2026-04-24T21:09:03","date_gmt":"2026-04-25T04:09:03","guid":{"rendered":"https:\/\/occupysf.net\/?p=47895"},"modified":"2026-04-24T21:09:04","modified_gmt":"2026-04-25T04:09:04","slug":"is-steyer-against-taxing-billionaires","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2026\/04\/24\/is-steyer-against-taxing-billionaires\/","title":{"rendered":"Is Steyer against taxing billionaires?"},"content":{"rendered":"\n<ul>\n<li><strong>Google AI Overview<\/strong><\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/www.google.com\/search?q=tom+steyer&amp;kgmid=\/m\/0cm9pg5&amp;sa=X&amp;ved=2ahUKEwibscPtj4iUAxURDzQIHZThERcQ3egRegQIAhAC\">Tom Steyer<\/a>&nbsp;generally&nbsp;<strong>supports taxing billionaires<\/strong>&nbsp;and has frequently stated that he is &#8220;fine&#8221; with being taxed more himself to address inequality. However, in his current 2026 campaign for California Governor, he has expressed&nbsp;<strong>significant reservations<\/strong>&nbsp;about a specific proposal currently being debated in the state\u2014a one-time 5% wealth tax on billionaires.&nbsp;<\/p>\n\n\n\n<p><img decoding=\"async\" src=\"blob:https:\/\/occupysf.net\/e93ce3ad-cc06-4466-a89d-9b8c35f4043b\" alt=\"Tom Steyer | Substack\">Tom Steyer | Substack&nbsp;+3<\/p>\n\n\n\n<p>His nuanced position can be broken down as follows:<\/p>\n\n\n\n<p>General Support for Taxing the Wealthy&nbsp;<\/p>\n\n\n\n<ul>\n<li><strong>&#8220;Tax People Like Me&#8221;<\/strong>: Steyer often uses the slogan that he is the &#8220;billionaire who wants to tax billionaires&#8221;.<\/li>\n\n\n\n<li><strong>Fair Share<\/strong>: He argues that the wealthy have an obligation to contribute more to fund essential services like education, healthcare, and climate action.<\/li>\n\n\n\n<li><strong>Long-Term History<\/strong>: During his 2020 presidential run, he was one of the first candidates to propose a federal wealth tax (1% on net worth over $32 million).\u00a0Tom Steyer | Substack\u00a0+4<\/li>\n<\/ul>\n\n\n\n<p><strong>Opposition to the Current &#8220;Billionaire Tax Act&#8221;\u00a0<\/strong><\/p>\n\n\n\n<p>Despite his general stance, Steyer has criticized the specific&nbsp;<strong>California Billionaire Tax Act<\/strong>&nbsp;(a one-time 5% levy) on the following grounds:&nbsp;<\/p>\n\n\n\n<ul>\n<li><strong>Temporary Fix<\/strong>: He views it as a &#8220;one-time&#8221; solution to &#8220;permanent, structural problems&#8221;.<\/li>\n\n\n\n<li><strong>Design Concerns<\/strong>: He has called the current version of the bill a &#8220;temporary fix&#8221; to backfill budget cuts rather than a durable reform.<\/li>\n\n\n\n<li><strong>Impact<\/strong>: While he says he would still vote for it if it reached the ballot, he argues it is &#8220;not the answer&#8221; compared to his own proposals.\u00a0Tom Steyer | Substack\u00a0+3<\/li>\n<\/ul>\n\n\n\n<p>Steyer\u2019s Alternative Proposals<\/p>\n\n\n\n<p>Steyer advocates for different methods of raising revenue that he considers more sustainable:&nbsp;<\/p>\n\n\n\n<ul>\n<li><strong>Closing Corporate Loopholes<\/strong>: His primary focus is on ending the &#8220;water&#8217;s edge&#8221; loophole for multinational corporations and increasing taxes on commercial property.<\/li>\n\n\n\n<li><strong>&#8220;Split Roll&#8221; Property Tax<\/strong>: He proposes revisiting Proposition 13 to tax commercial real estate at current market values, which he claims would bring in more permanent revenue than a one-time billionaire tax.<\/li>\n\n\n\n<li><strong>Corporate Accountability<\/strong>: He emphasizes making &#8220;polluters pay,&#8221; specifically targeting oil and utility companies.\u00a0Instagram\u00a0+4<\/li>\n<\/ul>\n\n\n\n<p>AI can make mistakes, so double-check responses<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tom Steyer&nbsp;generally&nbsp;supports taxing billionaires&nbsp;and has frequently stated that he is &#8220;fine&#8221; with being taxed more himself to address inequality. However, in his current 2026 campaign for California Governor, he has expressed&nbsp;significant reservations&nbsp;about a specific proposal currently being debated in the state\u2014a one-time 5% wealth tax on billionaires.&nbsp; Tom Steyer |&#8230; <a class=\"continue-reading-link\" href=\"https:\/\/occupysf.net\/index.php\/2026\/04\/24\/is-steyer-against-taxing-billionaires\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/47895"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=47895"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/47895\/revisions"}],"predecessor-version":[{"id":47896,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/47895\/revisions\/47896"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=47895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=47895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=47895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}