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This whole long-ass thread is a great read for two interesting (and not necessarily mutually exclusive) takes on what's wrong with U.S. production capacity across many industries. (I'd love to see the author add a climate externalities layer, too!)

I've heard that in addition to all that boring con law stuff there will also be a chapter about states using their tax authority to counter oligarchy. Could be a good time.

www.politico.com/news/2026/08...

California Democratic Party endorses billionaire taxThe party’s executive board broke with several labor unions and Gavin Newsom on the measure.www.politico.com

One of the problems with the NYC rollout of the pied-a-terre tax is that they assumed every home owned by a trust is a second home. This isn't usually true! Many, many primary residences are held in trust. If you are planning to tax rich ppl, pls feel free to email me to write your law for you.

Ok, this one is about the Moore case and tax reform in (probably) 2029 & after. Moore says we probably can only tax super-rich people when they sell stuff, not through a wealth tax or similar options. An alternative would be to tax their consumption. Is that a good plan? Spoiler: no. /1

As I was saying: fortune.com/2026/07/27/l... (PS there is no exodus, everyone who says they are chilling in Tahoe will be back as soon as their 2026 tax return is filed & litigated)

LeBron James joins California's billionaire exodus — but he may not escape the wealth tax | FortuneAs California billionaires flee to Florida or fund the fight against Prop 40, LeBron's decision adds a new wrinkle to the tax reckoning.fortune.com

Lebron, a California billionaire, is taking his talents to South Street. Will he have Philadelphia Freedom from #Prop40, the billionaire tax? No, and it's a slam dunk. If it passes, Prop 40 will score billionaires as Californians if they resided in CA on January 1, 2026.

Friends, you have never seen such professionalism as the Harvard Sq Lizzies scooper who, ignoring the gasps of awed horror from a long line of customers, coolly served up the banana split with hot fudge, gummi bears, and sprinkles this chick just ordered.

OK, my hottest Odyssey discourse take is that bad translations have masked the fact that it is a deeply feminist story in which Penelope gets literal top co-billing: that key adjective in the first line is "knotted" and only Fagles's translation ("twists and turns") gets close to getting it right.

Most states seem to have no plan for how to avert this (and, as Chandler said, they don't even have a "pla"). But this is one of the federal funding streams that #prop40 -- the California Billionaire Tax -- would replace.

Bastille Day is not, as far as I know, a gift-giving holiday (*:guillotines not included), but this week I received an unexpected present: A cool summary of "How to Tax the Ultrarich" by the social science journalists @scholarpeer.bsky.social . Read it here: scholarpeer.com/this-proposa...

This Proposal Doesn't Ban Tax Deferral for the Ultrarich. It Just Makes Waiting WorthlessThe top 0.1 percent hold $1 of every $6 in US private wealth, much of it untaxed due to tax deferral. A proposal aims to change that.scholarpeer.com

The campaign against the tax shows you why we need the tax. They literally wanted to buy the mechanism for getting initiatives on the ballot. Do you need more metonymy here, people?

The opinion is a fun read but nothing in it forces IRS to audit potus or his family, no matter how much they might deserve it. If it stands it does help clear the decks for audits & other ensuing legal action under a subsequent administration.

Presumptive Gov. Becerra sounds supportive of a tax on employers to pay for Medicaid benefits of their workers. The likely result would be that the tax would passed through to workers as lower wages or fewer jobs. Yuck. Just tax billionaires instead, dude. #CBTA www.sacbee.com/news/politic...

Newsom cheers Fair Share from Big Corporations Act after previous skepticismAfter months of silence over the proposal, Newsom cheered its passage Wednesday. But his administration has not said if it plans to begin drafting proposals before his term ends.www.sacbee.com

I was sad not to have been parodied in this column (I am assuming, ofc, I cannot be one of the people described as not fun at parties). Also reporters please stop repeating the bullshit claims of billionaires' lawyers that they have "moved" (into their 5th vacation home?) as fact. See? I'm fun.

As always a fun conversation with wealth-tax skeptic tax mavens Jeff Hoopes & Scott Dyreng, this time about "How to Tax the Ultrarich." Not sure I convinced 'em but a good time was had by all. Slightly less creepy outro voice from Jeff this time, thankfully. www.buzzsprout.com/1878989/epis...

Tax the Ultrarich Without Throwing Out Realization: A conversation with Brian Galle - Tax ChatsJeff and Scott chat with Brian Galle about his new paper, How to Tax the Ultrarich.  Most proposals that seek to tax the very wealthy differently eliminate the principle of realization, such as w...www.buzzsprout.com

Gov. Newsom comes out for a "national billionaires tax." Look, we know from a CA perspective this is just the oil companies arguing for a carbon tax bc they know it will not happen. But also, this is now the moderate position in the D presidential primary. gavinnewsom.substack.com/p/its-time-f...

It's time for a national billionaires’ tax and a new social compactWe must democratize the American economy to save democracy.gavinnewsom.substack.com