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Proposition 40 is what Roe Hanna is pushing for, which is a 5% tax on the wealth of billionaires, which ends up being about 8-10% because it's unrealized gains. They have to sell assets to pay that 5% of whatever amount you charge that ends up on the ballot. Proposition 42 is being put forward to do the exact opposite of what Proposition 40 does. So it's a cap on new wealth taxes. First, Ro Hanna and some others in California pushed Proposition 40. Newsom supported it, and we exposed him and said, "Now you're a socialist." He received a lot of criticism and was like, "Damn it, I'm not going to become president if I'm completely on the side of the DSA." "I have to be some kind of independent center-left
to have a chance of becoming president." We all know that this is his dream. He is a person who has been striving for this for a long time. And now Ro Hanna is at war with Newsom. Ro Hanna is fighting Newsom, Tom. What can you tell us about what's happening here when Ro Hanna criticizes Newsom, and what are each of their motivations? Well, Ro Hanna denies running for president, denies having a hidden exploratory committee. He denies raising money secretly. Conclusion: he is running. So you have him preparing for a potential run for president, and you have
Newsom, who has been running for president since the time Kennedy was shot. So, there's all this going on and there are two key propositions. What was Newsom's first position, Vinny? Do you remember? I don't think he's going to leave the state. This is a great state and everything we have going on here, the things I've done here. These are my hands, they just move like that . And you remember that whole story from Newsom. Instead, suddenly one of the guys from Google finds himself in Florida and has transferred all his personal assets there.
A deal had to be struck to keep Zuckerberg in California, and many other billionaires, including four key individuals associated with Oracle, actually moved to Austin. So, the money still went. And suddenly now Newsom is getting whipped, getting in trouble for it, and can't move on to his "bad Trump, bad red man" theses because he's being linked to Proposition 40. He's going to shut up this summer. Did you notice that? He falls silent. He falls silent, then surfaces again, like a huge whale that can hold its breath for 20 minutes. Suddenly he reappears and supports Proposition 42, and Ro Hanna says, " Come to your senses.
You." and he used the word "treason", Ped. Ro Hanna used the word "treason" in a tweet and then verbally. He feels betrayed, that the California Democratic Party is being betrayed I like his strategy. And believe it or not, whether I agree with Proposition 40 or Proposition 42-of course, we lean more toward Proposition 42-I like that he exposes Newsom, because he's telling the world, Tom, he's telling the world: you're fickle, you know, you know what. He will do anything to achieve his goal. He brings him out into the open. Yes, that's true. And now on the other hand: it was very disturbing when I spoke to Pete Buttigieg this week. I tried to find it because we know he's running
. Talented, capable, much more talented than Kamala Harris. Kamala Harris was probably the most disgusting candidate anyone has ever put forward, left or right-the worst candidate in history. She's just hard to listen to. Her voice, you can't blame her voice. One of the worst voices in the world. There are certain voices that are soothing, that you can listen to. You can listen to AOC's voice, believe it or not. Forget it, I'm talking purely about the voice. If the suicide rate were to increase with every minute Americans are forced to listen to Kamala Harris' voice. He is so terrible. This.this is my opinion.
This is my personal opinion. But I said to Pete, "What are you going to do when people leave California and go to Texas and Florida because of the wealth tax?" He says, "We need the help of the international community so that no one can leave for another country." Once we do that, the wealth tax will become nationwide, not just at the state level. You will see that the wealth tax will become a major theme of the 2028 election campaign. The figure they gave: if we implemented a 5% wealth tax on billionaires across the country, they would generate approximately $4.5 trillion. Here's what they offer. You'll see it happen all over the country, Vinny, when they implement it. Jeff, what are your thoughts on this story?
Yeah, I mean, we've seen this before, and Democrats and the people who support it have always had.well, they called it "white flight." People were moving from cities to suburbs, you know, but we're talking about the 1950s, 1960s. It wasn't really a " white flight." People were fleeing Democratic politics in inner-city areas because they could vote with their feet. And then, in the 1980s and especially in the 1990s, we faced a backlash in the form of urban consolidation. They tried to sell us the idea of consolidation. In reality, they realized that people who could afford it had left the tax jurisdiction, and we need to bring those taxpayers back. So, if we expand the city to include the suburbs, we get all that tax base back. This is what they are
really talking about. Only now are they talking about creating an international infrastructure for this, and it's really scary. One of the ingenious aspects of the American experiment was that you could vote with your ballot or with your feet. You don't like politics, you don't believe in winning-go somewhere else. Go to Florida, go to Texas. However, if you implement this policy, you must eliminate this option, which means capturing everything and everyone. Yes, it affects reality. Again, I always talk about reality versus ideology. They are guided by ideology and try to find ways to counteract the real consequences.
Mhm. And the more people try to leave the place in search of a better life, which is literally what the US is based on, the more they try to compensate for it by gaining more power. And now they are seeking global power, which literally brings us to everything we are talking about. It's never, you know, in science, if a theory is disproven, you change the theory. This. They don't. They shouldn't. No, because: "Okay, you don't like politics, you left." "Well, I'll just enforce my policy where you live, wherever you go." But this is literally a confrontation with reality. They are facing the truth: people
are reacting badly to these policies. It has no positive effect. It doesn't bring any more net profit to the government, and so they're all trying to compensate for that. For us, what we believe in, despite everything that's happening-we do it because we believe that the future looks bright, and every now and then we do limited editions. When we do this, do you know what happens? If you don't manage to buy it in the first hour, the only place you can find it is eBay, and there the prices are raised three, five, ten, twenty times. Some of them are. But here is the last series of USA caps that we will release, numbered to 250 pieces. Pay attention to this video. Take action Some things never go out of style.
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Burgundy? There will be black and burgundy too. They're not.they're not limited. Almost like USC. output. Almost like USC. Exactly. Washington Commanders. So, somehow. Go to flb.com. Place your order. Let's add a link below. And take FLB shoes with you. Next week we will make a big announcement for those of you who make a purchase over $500. We are doing a private preview of the latest product, which will be released next Monday. Some of you have already received emails and text messages. If you liked this video and want to watch more like it, click here. And if you want to watch the entire podcast, click here.
