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wealth tax

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TalkTV guests assail Lineker-signed letter urging higher taxes on UK millionaires

Jul 24, 2026

The segment discusses a recent open letter signed by Gary Lineker and over 100 other UK millionaires urging new Prime Minister Andy Burnham to raise taxes on the wealthy. Guests Liam Halligan and Mark describe it as cynical branding and argue that wealth taxes are counterproductive. They cite UK borrowing figures, debt-interest costs, income-tax concentration among top earners, nondom changes, and international experience with wealth taxes. The discussion references the signatories' PR motives and warns of capital flight, lower growth, and higher borrowing costs.

▶ Source: TalkTV

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California Weighs One-Time 5% Billionaire Wealth Tax for Healthcare

Jun 16, 2026

Bloomberg segment examines a proposed California ballot initiative for a one-time 5% tax on net worth above $1 billion for residents as of January 1, 2026. It would raise revenue estimated in the tens of billions to offset federal healthcare cuts from the 2025 'One Big Beautiful Bill' and protect Medi-Cal and related programs. The measure is backed by the SEIU-UHW healthcare workers union and targets illiquid assets including stocks, real estate, and art. Democrats are notably divided, with Governor Newsom and others opposing it over fears of wealthy residents leaving the state, while some progressives support it. Other labor groups seek to broaden fund allocation beyond healthcare.

▶ Source: Bloomberg Television