French economist Gabriel Zucman has come to California bearing a familiar French solution to a fiscal problem: another tax.

Once based at the University of California, Berkeley, Zucman is back and campaigning for Proposition 40, which would impose an allegedly one-time 5 percent tax on the net worth of Californians worth more than $1 billion. Zucman, who coauthored the proposition, estimates that the tax could raise about $100 billion and claims that 90 percent of the proceeds would go to health care.

The California Legislative Analyst's office is far more cautious, saying it would raise only "tens of billions" and could cause a long-term loss of income-tax revenue as wealthy people leave the state with the companies they created.

I've written plenty about why wealth taxes are economically destructive, administratively nightmarish, and unlikely to achieve anything close to what their advocates promise. But Zucman's prescription is wrong for a more fundamental reason, as his (and my) native country shows: Raising taxes to fuel ever-larger demands for government spending is a recipe for disaster.

Unless you've been living in a remote cave recently, you've likely seen all the protests and destruction in France. But do you know why it's happening?

As another economist, Paul Krugman, rightly noted back in 2017, "France offers a social safety net beyond the wildest dreams of U.S. progressives: guaranteed high-quality health care for all, generous paid leave for new parents, universal pre-K, and much more."

For decades, France has answered any perceived desire with government spending, then responded to the resulting fiscal problem by seeking new revenue sources. Today, French government spending consumes roughly 58 percent of gross domestic product (GDP).

Krugman gloated that France wasn't suffering social collapse and speculated that it was due to all the spending. He certainly can't say that anymore. In fact, he is now worried that France may be on the precipice of a debt crisis. The truth is that France hasn't done well for some time, even when Krugman cheered its spending.

One of the groups in the street today, young people, has faced widespread unemployment for a long time. The youth unemployment rate in France (ages 15-24) has hovered between 17 percent and 27 percent since 2000. In the second quarter of 2026, it was 21.6 percent, against 14.8 percent in the Eurozone and 9.9 percent in the U.S.

French people also pay some of the highest taxes in the developed world, and they're not happy with the return. The government already takes more than 52 percent of the country's output in revenue, runs deficits exceeding 5 percent of GDP, and has accumulated debt approaching 120 percent of GDP. Nonetheless, French students complain that the government is shortchanging schools, while everyone sees that it is shortchanging its army and police.

The students aren't wrong to feel left out. At The Two Cents Substack, Hoover Institution scholar Hanno Lustig calculates that, between 1995 and 2024, spending on social protection and health (most of which benefits older people) rose from 53.1 percent to 58.7 percent of all French government spending. The share devoted to education, defense, and public order fell from 15.2 percent to 13.7 percent. Transportation fell from 5.3 percent to 3.8 percent.

In other words, France has built an enormous welfare state, much of it devoted to older citizens, while letting other state capacities and basic services fall apart. As transfers of wealth swallow a larger share of the budget, everything else gets squeezed.

That is the fiscal ratchet Californians should worry about when Zucman tells them Proposition 40 is necessary to "save" health care. Proponents claim Washington "cut" Medicaid, but that language is misleading. California's deficit started long before any Washington spending reductions. Besides, federal Medicaid spending isn't falling—not even close. The Congressional Budget Office estimates it will reach $708 billion in 2026, 8 percent more than in 2025. What Washington did in the 2025 budget reconciliation law was reduce Medicaid's future growth relative to previous projections, partly by changing eligibility and enrollment rules and financing arrangements.

This is how the ratchet works. Once the government projects a spending increase, anything less becomes a cut. And once Washington fails to finance the entire projected increase, Californians are told that Sacramento must backfill the missing money. And how should it do that? Conveniently, by creating an entirely new tax.

France has run this experiment for decades. It has an incredibly generous welfare state paid for with very high taxes; it's even tried a wealth tax and has a value-added tax, yet somehow it's never enough. Its welfare state has not eliminated scarcity. It has merely transferred the job of rationing scarce resources to politicians.

Zucman looks at California and sees hundreds of billions of dollars of private wealth waiting to solve a public finance problem. Californians should look across the Atlantic and ask a different question: What happens after politicians decide that every spending adjustment can be delayed until tomorrow by finding another pot of private wealth?

France should not be sending California tax advice. It should be sending a warning.

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The post France Is a Warning to California's Tax-the-Rich Crowd appeared first on Reason Magazine.

Federal authorities conducted predawn raids across Southern California on Thursday, busting suspected fraudsters, including a cardiothoracic surgeon, accused of stealing nearly $2 billion through sham substance abuse programs, unnecessary surgeries and phony hospice care.

In total, 15 people, including six medical professionals, were charged over $1. 8 billion in fraudulent claims submitted to government and private health insurance programs, the Justice Department said.

"These charges include the largest sober home fraud scheme the Department has ever prosecuted and a scheme involving unnecessary invasive procedures that was detected through data analytics," said Assistant Attorney General Colin McDonald of the Justice Department’s National Fraud Enforcement Division. 

FBI ADDS 2 FUGITIVES TO 'MOST WANTED FRAUDSTERS' LIST AMID HISTORIC $6.5B HEALTHCARE TAKEDOWN: PATEL

"Our message is simple: if you steal health care dollars from the American taxpayer or abuse your position to harm patients, we are coming for you — and the data will lead us to you."

Among the defendants are Dr. Harold Tabaie, 78, of Anaheim, a cardiothoracic surgeon, and his business partner, Hany Malek, 61, a Tarzana chiropractor.

Both are charged in an alleged $135 million scheme to bill Medicare for medically unnecessary atherectomies, invasive arterial procedures using a bladed catheter to clear plaque.

Prosecutors allege Malek posed as a medical doctor to diagnose patients with arterial disease and recommend atherectomies, even though the patients did not have the condition.

CALIFORNIA DOCTOR CONVICTED OF $45M MEDICARE FRAUD SCHEME THAT FUNDED LUXURY VACATIONS AND A $12K CROSSBOW

Tabaie then performed the procedures, sometimes repeatedly on patients for whom previous operations had already failed, according to officials. Authorities noted that several patients suffered extreme pain and discomfort as a result.

Malek also faces charges for allegedly submitting fraudulent Paycheck Protection Program (PPP) loan applications in 2021. He allegedly fabricated a 25% revenue loss for his business to secure loan funds, which he then spent on personal expenses, family credit cards, other ventures and rare coins.

TOP FEDERAL PROSECUTOR CALLS CALIFORNIA A 'FRAUDSTER'S PARADISE,' WARNS STATE OFFICIALS COULD FACE CHARGES

In a separate case, Nathan Young, 39, and his father, David Young, 71, were charged with operating a $1.6 billion substance abuse scam.

Authorities allege the father-son duo trafficked drug addicts from across the nation to dozens of Los Angeles rehab centers. Federal prosecutors said the vulnerable patients were recruited by "body brokers" Honey Phipps, 42, and Cody Phipps, 36, both of Greenville, Texas.

Body brokerage is the illegal practice of receiving kickbacks to refer insured individuals to specific rehab facilities. Once patients arrived, no actual treatment was provided.

Instead, the Youngs allegedly recycled patients through their facilities to continuously bill insurance companies, even ordering staff to drug patients with sedatives to "knock them out" if they attempted to leave.

VANCE ANTI-FRAUD TASK FORCE SUSPENDS 447 HOSPICES IN LOS ANGELES OVER MORE THAN $600M IN SUSPECTED FRAUD

The duo also allegedly offered drugs to patients, cut them off from communication with family members, prevented them from accessing their belongings and physically blocked them from leaving the facilities to continue billing their insurance policies.

When Nathen Young was informed that a patient wanted to leave detox so he could smoke marijuana, Young instructed that the patient should be given what he wanted, off-site from the detox, to keep him there, prosecutors said.

"It is especially egregious when doctors and other health care professionals, who pledged to do no harm, resort to petty greed and criminality," said First Assistant United States Attorney Bill Essayli. "Every dollar drained out of our private and public health insurance systems is one less dollar available to those who truly need it."

The sweep also targeted several other major healthcare fraud schemes across the region. In one instance, defendants were charged with stealing more than $140 million by falsely certifying non-terminally ill patients for hospice care.

In a separate prescription fraud scheme, Christina Mareik, 61, of Whittier, was charged for her role in allegedly submitting thousands of bogus prescriptions for high-reimbursement generic drugs to Medi-Cal, California's Medicaid program.

FOUR CHARGED IN ALLEGED BILLION DOLLAR HEALTHCARE FRAUD TIED TO RUSSIAN TRANSNATIONAL CRIMINAL ORGANIZATION

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Additionally, Dr. Hassan Badday, 48, of Los Angeles, and Dr. Robby Ayoub, 52, of Huntington Beach, were charged with taking illegal kickbacks from a Houston laboratory marketer in exchange for ordering unnecessary Medicare genetic tests.

A top federal prosecutor in California said federal investigators have determined that all 20,000 people they flagged on the state's voter rolls as "likely noncitizens" are not U.S. citizens.

Bill Essayli, the first assistant U.S. attorney for California's Central District, told Fox News Digital that federal investigators have evidence that these 20,000 individuals received mail ballots this month. His office sued California last week seeking a court order to prevent any ballots they return from being counted.

"We're not asking California to take any drastic steps other than to sequester the ballots from the suspected noncitizens," Essayli said in an interview on Wednesday. "We believe it's at a minimum of 20,000. That's the floor."

The potential ceiling, he said, is much larger. Essayli referenced a letter Homeland Security Secretary Markwayne Mullin sent to California in July that flagged nearly 200,000 voters as possible noncitizens.

DOJ OFFICIAL DEFENDS TRUMP'S NONCITIZEN VOTER PROBE ON '60 MINUTES,' ACCUSES SHOW OF EDITING OUT HER ANSWERS

Since then, federal investigators have been sifting through those records to identify people they believe they can verify as noncitizens.

He said 20,000 is only the current tally and expects thousands more names to be added in the coming days.

Earlier this week, Essayli got into a social media spat with Gov. Gavin Newsom over the state's safeguards against noncitizen voting.

Essayli argued that California is allowing people without citizenship onto the voter rolls through its supposedly lax verification processes, while Newsom said the state follows all relevant federal law governing the integrity of elections.

In court filings, California election officials have pushed back against the Justice Department's demands, arguing that county election offices lack both the authority and access to federal records needed to verify voters' citizenship status.

They have also said that sequestering ballots from people on the DOJ list is impossible in cases where the ballots have already been processed. Once a ballot's signature is verified, it is removed from its identifying envelope and processed alongside other ballots, meaning it can no longer be traced back to an individual voter.

STATE DEPARTMENT CONSIDERS SHARING PASSPORT RECORDS FOR VOTER CITIZENSHIP CHECKS

"That is true. That's why we're getting an emergency court order requiring them to put those ballots aside," Essayli said. "Ballots have already gone out, people are filling them out and they're being returned in process as we speak. So, the crime is occurring in real time."

The DOJ escalated its push for immediate court intervention Wednesday, asking the judge to rule on its emergency request by noon Thursday. In Los Angeles County alone, officials have already processed 331,000 ballots, according to court records.

Essayli's office filed suit on Oct. 15, roughly two weeks after California sent out mail ballots, including to the possible noncitizens on the DOJ list, according to the federal government.

When asked why the Justice Department didn't act sooner, Essayli explained that investigators did not know exactly which voters would receive ballots until they were sent.

ELECTION CRIME ARRESTS KEEP PILING UP AS DEMS INSIST IT 'JUST DOESN'T HAPPEN'

He said California should cooperate with the federal government to expedite the process of verifying voters' citizenship.

That would involve providing additional identifying information, including driver's license numbers and Social Security numbers when available, that federal investigators could cross-check against government databases.

California and dozens of other states treat this information as confidential and have refused to turn it over to the federal government, prompting the DOJ to take several of them to court.

In a separate lawsuit from Sept. 2025, the DOJ tried to compel California to provide its complete, unredacted voter-registration database, including names, Social Security numbers, home addresses and voting histories.

In January, a district court sided with California and dismissed the case, calling the government's request "unprecedented and illegal." The DOJ appealed the ruling and litigation is ongoing.

MAP IT: DOJ ILLEGAL VOTING CRACKDOWN SWEEPS 17 STATES AS RAZOR-THIN ELECTIONS FACE SCRUTINY

"If California will make available or submit its records, we can quickly put them through our established systems to determine who's a citizen and who's not," Essayli told Fox News Digital. "They're forcing us to do it the hard way, which we're willing to do because this is very important."

He said every person on the current 20,000-name list was individually reviewed by a federal employee at U.S. Citizenship and Immigration Services and Homeland Security Investigations.

California officials, however, have questioned the reliability of the DOJ list.

Monica Flores, an assistant registrar-recorder in Los Angeles County, said in a court declaration that her office conducted a preliminary review of a sample of 200 records from the list that were associated with LA County addresses.

Of those, 112 corresponded to canceled or inactive voter registrations, meaning no ballot was mailed to those individuals for the November election, Flores said.

TRUMP ADMIN WANTS TO REQUIRE TAX FILERS TO DISCLOSE CITIZENSHIP STATUS TO IRS

"I don't believe that, actually," Essayli said. "The information we have is that they likely received ballots. So we are asking for the names of people they claim whose registration has been canceled."

Essayli added LA County did not say when these registrations were canceled. He raised the possibility at least some were canceled after federal officials provided the state with their list.

"If they're canceling now based on the records we provided, that's great news," Essayli said. "But that's all to be determined."

In the 200-person sample reviewed by LA County, Flores said that among records where birthplace was "meaningfully reported," 38.9% indicated the person was born in the United States, which she called "strong evidence of citizenship."

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Essayli similarly disputed this conclusion, arguing that the birthplace information — much like the citizenship information itself — was provided by the registered voters themselves.

"They're not independently checking any of this information," Essayli said. "They're going off the information that was provided to them by the person who registered to vote."

The California Secretary of State's office and the LA County Registrar-Recorder's office did not immediately respond to Fox News Digital's requests for comment.

Essayli said that his office is determined to follow through with its investigation because "one noncitizen voting is too many."

"One illegal vote cancels out the vote of an American citizen. There are a lot of local elections that are decided on very few votes," he said. "Noncitizens cannot vote in federal elections, and we intend to enforce that law."

Il numero uno di Meta Mark Zuckerberg si prepara a pagare la tassa sui miliardari, se la California approverà la misura. E il gruppo a cui fanno capo Facebook, Instagram e Whatsapp corre ai ripari per consentirgli di farlo senza mettere a rischio il controllo della società. Meta infatti, come emerge da un documento depositato alla Securities and Exchange Commission, distribuirà ai soci nuove azioni di classe C prive di diritto di voto in aggiunta a quelle già possedute. Zuckerberg potrà vendere o trasferire immediatamente il 20% dei titoli che riceverà, una quota equivalente a circa il 10% della sua partecipazione. E potrà usare il ricavato per saldare l’eventuale imposta. In cambio si impegna a mantenere la residenza in California per i prossimi otto anni.

L’intesa arriva a meno di due settimane dal referendum del 3 novembre sulla Proposition 40, che propone una patrimoniale una tantum del 5% sulle fortune dei circa 250 miliardari residenti nel Golden State e l’utilizzo del gettito per finanziare la sanità depauperata dai tagli di Trump e programmi per l’istruzione e l’assistenza alimentare. In caso di successo, segnerebbe una svolta per il dibattito sulla tassazione della ricchezza.

Secondo i documenti societari Zuckerberg, il cui patrimonio è stimato intorno ai 240 miliardi di dollari, aveva comunicato a un Comitato speciale di amministratori indipendenti di star valutando il trasferimento della residenza fuori dallo Stato per cercare di dribblare un’imposta che nel suo caso varrebbe circa 10 miliardi. Per pagare il conto avrebbe infatti dovuto vendere parte delle azioni di classe B, quelle che gli garantiscono diritti di voto maggiorati: la sua quota di controllo sarebbe scesa dal 60,6% a circa il 53%. Il Comitato speciale, ritenendo “di fondamentale importanza mantenere il Sig. Zuckerberg in una posizione di leadership all’interno della nostra azienda” e far sì che “che continui a risiedere e a gestire l’Azienda dalla nostra sede centrale in California per garantire la sua continua capacità di guidare efficacemente le nostre prestazioni durante quest’era di sfide e concorrenza senza precedenti”, ha trovato giocoforza una soluzione: una riorganizzazione della struttura azionaria. Meta distribuirà appunto ai soci dal gennaio 2027 nuove azioni di classe C, prive di diritto di voto, in aggiunta a quelle già possedute.

L’economista francese Gabriel Zucman, che da anni studia la concentrazione della ricchezza e le modalità per tassare i grandi patrimoni, ha scritto su X che la decisione è la prova che “la campagna per la Proposition 40 sta funzionando”: viene meno infatti l’argomento usato da molti oppositori secondo cui i miliardari “non potrebbero” versare il dovuto pena la perdita del controllo delle loro compagnie. Se messi alle strette, evidentemente, si può fare.

Da notare, peraltro, che come ricorda il documento inviato alla Sec dal 2013 Zuckerberg riceve uno stipendio annuo simbolico di un dollaro come amministratore delegato e presidente del gruppo. La società lo utilizza come argomento per motivare la sua necessità di liquidità. Ma il punto è che la sua ricchezza deriva soprattutto dal valore delle azioni Meta, che può crescere senza tradursi in reddito imponibile. È un meccanismo comune tra i grandi miliardari: finché le azioni non vengono vendute, l’incremento di valore resta generalmente una plusvalenza non realizzata e non è tassato come reddito da capitale. Il risultato che, a fronte della impressionante concentrazione delle fortune nelle mani di pochi, quei pochi riescono a versare meno tasse rispetto a un lavoratore del ceto medio. La patrimoniale una tantum proposta da un sindacato di lavoratori della sanità punta a correggere in parte questa asimmetria.

Come da copione l’opposizione alla misura è stata però violenta: molti grandi nomi della Silicon Valley, fallito l’obiettivo di impedire che la proposta promossa arrivasse alle urne, hanno messo in campo tutto il proprio arsenale finanziario e non solo per convincere gli elettori a bocciarla. Tra campagne di disinformazione e sostegno ad altre misure referendarie che potrebbero impedirne l’entrata in vigore. Alcuni miliardari, tra cui i cofondatori di Google Larry Page e Sergey Brin, hanno valutato o annunciato di volersene andare. Anche se, come evidenziato da Zucman, sulla carta per avere successo il trasferimento fiscale avrebbe dovuto essere completato entro fine dicembre 2025: il testo infatti individua i potenziali contribuenti in base alla residenza al 1° gennaio 2026. L’eventuale trasferimento di Zuckerberg, ipotizzato per ottobre di quest’anno, sarebbe stato quindi al massimo un tentativo in extremis per tentare di contestare la propria assoggettabilità alla tassa, ma non una garanzia di esserne escluso.

L'articolo Mark Zuckerberg si prepara a pagare la tassa californiana sui miliardari. Meta gli dà nuove azioni per blindarlo per otto anni proviene da Il Fatto Quotidiano.

California, Oregon, Washington and Hawaii health officials ask CDC, ‘prioritizing emerging technologies’, to reconsider

California and Washington asked the US Centers for Disease Control and Prevention (CDC) in May to validate a new way to test for measles – but after waiting two months, the CDC denied the request, citing “other competing priorities”, according to a letter from the West Coast Health Alliance to the CDC director, Erica Schwartz.

The letter, signed by health officials in California, Hawaii, Oregon and Washington, asks Schwartz to reconsider and validate a rapid, high-volume measles test in preparation for major outbreaks. The alliance also asked the CDC to create protocols to test for other high-priority pathogens to prepare for future outbreaks.

Meta quiere que Mark Zuckerberg siga viviendo en California. La junta del grupo tecnológico ha alcanzado un acuerdo con el fundador de la compañía para que renuncie a trasladarse a otro estado, como había manifestado, ante el incremento de la factura tributaria que le supondría el nuevo impuesto sobre la riqueza que ultiman las autoridades demócratas en el Estado Dorado.

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On Wednesday’s broadcast of CNN’s “The Story Is,” Rep. Kevin Kiley (I-CA) said that he voted against tariffs that have raised costs, while his Democratic opponent “voted for a gas tax increase that has more than doubled the gas tax

The post Kiley: I Voted Against Tariffs That Raise Costs, My Opponent Voted for California Gas Tax That Raised Prices appeared first on Breitbart.

On Wednesday’s broadcast of Bloomberg’s “Balance of Power,” Rep. Sydney Kamlager-Dove (D-CA) said that, in California, “We rely on a small number of people to provide a lot of tax revenue to the state, and that brings with it volatility. So,

The post Dem Rep. Kamlager-Dove: CA’s Tax System ‘Very Volatile’ Because It Relies on Small, Heavily-Taxed Group, Should Be ‘More Equal’ appeared first on Breitbart.

Il Fox Collie potrebbe essere il cane del ventunesimo secolo. Questa è la convinzione dell’allevatore di questa anomala razza di cani non ancora riconosciuta ufficialmente. Il New York Times ha incontrato colui che ha dato origine a questa particolare razza, Andy DuVigneaud, che vive nella Anderson Valley, una regione rurale della California settentrionale nota per i suoi vigneti, frutteti e allevamenti di bestiame.

Questa nuova razza nasce da una storia secolare, che prende avvio con la decisione la decisione del pastore scozzese Alexander McNab di importare dal suo paese una coppia di Scotch Collie, perché nessuno dei cani che aveva trovato al suo arrivo negli Stati Uniti, nel 1886, si era rivelato adeguato a svolgere il lavoro che spettava loro nei pascoli.

Una volta importata questa prima coppia di Scoth Collie, McNab tentò anche una serie di incroci con cani già presenti negli USA e da questi incroci nacque una razza che venne con il tempo perfezionata e che prende il nome proprio dal suo ideatore: McNab appunto.

È proprio da un McNab che è nata la sperimentazione che nel 2020 ha tentato DuVigneaud, quando questa specie era già ormai in progressiva diminuzione. Incrociando una cucciola di McNab con un altro esemplare simile, DuVigneaud sostiene di aver dato origine a una nuova razza, il Fox Collie.

L'articolo “Il miglior cane del mondo”: ecco il Fox Collie, un’inedita razza creata in California per dare un nuovo scopo ai cani pastori proviene da Il Fatto Quotidiano.

On Wednesday’s broadcast of Bloomberg’s “Balance of Power,” Rep. Sydney Kamlager-Dove (D-CA) responded to Meta CEO Mark Zuckerberg considering leaving the state over a possible wealth tax by stating that there are questions about having a one-time tax, but “it’s disappointing

The post Dem Rep. Kamlager-Dove on Zuckerberg Considering Leaving CA Over Wealth Tax: Need Federal Rules So People ‘Can’t Cherry-Pick States’ appeared first on Breitbart.

In the heart of the historic working-class and Latino Mission district in San Francisco, the door of a ground-floor unit next to a trendy coffee shop keeps opening. A private shuttle that ferries tech workers to their Silicon Valley headquarters farther south passes by every morning. The 796 sq.ft. (74-square-meter) apartment, recently renovated and furnished, is thoughtfully laid out, from the small open kitchen to the built-in closets. But it gets very little light. Of its two bedrooms, one has no windows. And it costs $4,750 a month.

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• Several billionaires have left or plan to leave California over its proposed wealth tax.
• The departures could mean that the state loses more in the long term than the one-time tax brings in.
• That's according to a working paper shared by a pair of Stanford economists.

Supporters of California’s proposed billionaire tax say it could raise about $100 billion.

But a new paper puts the takings closer to $30 billion and warns that the state could ultimately lose money if its richest residents flee.

Proposition 40, which goes before voters on November 3, would impose a one-time 5% tax on billionaires who were California residents on January 1, 2026, with their wealth valued at the end of the year. Most of the tax proceeds would go toward healthcare.

In a National Bureau of Economic Research working paper released this week, Stanford economists Benjamin Jaros and Joshua Rauh estimate the tax would collect between $28 billion and $36 billion — far short of supporters' $100 billion projection.

They point to billionaires moving away before the residency cutoff. Their estimate also assumes legal challenges could prevent California from collecting some of the remaining tax.

The authors identified seven billionaires reported to have left the state before the cutoff: Google cofounders Larry Page and Sergey Brin, investor Peter Thiel, director Steven Spielberg, Uber cofounder Travis Kalanick, investor David Sacks, and car loan tycoon Don Hankey.

Together, they accounted for nearly 30% of the wealth the researchers considered potentially taxable. The researchers noted that moving out of the state does not, by itself, settle someone's tax residency.

The authors' bigger concern is what happens afterward. California would collect the wealth tax only once, but billionaires who leave could stop paying state income taxes year after year.

If those departures and lost payments last, their model projects an average net loss of $38.9 billion. The researchers said they ran 100,000 simulations, and that in 85% of scenarios, losses outweighed revenues from the tax.

The forecast depends on who actually left and whether they stay away.

California's nonpartisan Legislative Analyst's Office offers a less stark view. It expects tens of billions in tax revenue and a possible ongoing drop of less than $1 billion a year in billionaire income-tax payments.

Brin is fighting the proposal on another front, too. He has given at least $102 million to Building a Better California, a group backing efforts to defeat or block Proposition 40. Two competing measures on the same ballot could keep Proposition 40 from taking effect, even if voters approve it.

While some billionaires have been vocal in their opposition to the tax, some have welcomed it. Nvidia CEO Jensen Huang told CBS News last month that being able to pay an estimated $8 billion over five years would be a "privilege."

In filings released this week, it was revealed that Meta CEO Mark Zuckerberg had considered moving out of California due to the tax, but ultimately decided to stay. To ensure that Zuckerberg has sufficient liquidity to pay without diluting his control of the company, Meta created a new class of shares.

Many economists back the plans. Six Nobel Prize winners — Daron Acemoglu, Abhijit Banerjee, Peter Diamond, Esther Duflo, Paul Krugman, and Joseph Stiglitz — signed a letter in September calling the proposal the "first opportunity for the people to start reining in the power of billionaires."

At the time, Acemoglu said it could counter years of tax avoidance by the very wealthy and curb their political influence. He said that while the proposal isn’t perfect, it "deserves support."

• Meta will give its investors free shares if Mark Zuckerberg hits certain "extraordinary" targets.
• It will pay 1:1 share dividends each time Meta stock doubles and has compounded at over 10% a year.
• Meta is rolling out Class C shares to address Zuckerberg's tax concerns and keep him in California.

Meta stockholders are set to receive free shares if Mark Zuckerberg absolutely crushes it as CEO.

The social-media giant revealed in a Wednesday filing that if its upcoming Class C shares double from a baseline price of $580.60 to just over $1,161, and their compound annualized return since September 10 has been at least 10%, shareholders will receive a dividend: a Class C share for every Meta share they own.

If Meta stock — specifically its 30-day volume-weighted average price — doubles again to around $2,322, and has risen by at least 10% on average per year, shareholders will receive the same dividend again, and so on.

Meta, which owns Facebook, WhatsApp, Instagram, and the AI agent Muse, acknowledged how difficult it will be to unlock those dividends, describing the stock price targets as "extraordinary" in its filing.

Its stock has already surged more than sevenfold from its November 2022 low, giving Meta a nearly $1.8 trillion market capitalization that ranks it among the 10 most valuable companies in the world.

The additional dividends would be paid on top of the initial dividend declared by Meta's board on Wednesday, which will see Class A and Class B shareholders receive Class C shares on a 1:1 basis, likely in late January.

Meta is rejigging its share structure in response to Zuckerberg's concerns about California's so-called billionaire tax: a one-off, 5% wealth tax on the roughly 250 billionaires living in the state.

Zuckerberg, who ranked fifth on the Bloomberg Billionaires Index with a $247 billion net worth at Wednesday's close, will be able to sell the Class C shares to access the liquidity needed to pay the tax, avoiding a sale of his existing shares that would erode his voting power.

Meta's board took action after Zuckerberg said he was considering moving out of California because of the potential tax, and cautioned that the steps involved in relocating, such as listing his home for sale, could spark questions from employees about the company's management, the filing says.

The main investigative unit of the United States Department of Homeland Security (DHS) has been vigorously promoting on social media an effort it considers crucial in the final weeks before the midterms: pursuing alleged large-scale election fraud by noncitizens — a claim that has obsessed President Donald Trump despite a lack of evidence.

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Former San Jose State University (SJSU) volleyball coach Melissa Batie-Smoose alleges a school official told her transgender player Blaire Fleming could not compete at one point during the 2023 season because Fleming’s testosterone level exceeded the eligibility limit.

In a new interview with OutKick, Batie-Smoose, who is now the head volleyball coach at Cisco College, claimed SJSU associate athletics director Laura Alexander informed her of Fleming's failed test before the women’s volleyball team left for its first conference match.

"So it was told to me by our associate AD, confirming to me that Fleming was not showing up for the test, the blood test," Batie-Smoose said.

INSIDE THE FALLOUT OF THE SJSU VOLLEYBALL SCANDAL: ‘THIS IS AN OBVIOUS PROBLEM’

"And that Fleming had one day left before we were going to leave for our first conference match, and that he needed to come in and test. And then, then she proceeded to tell me the next day that after the test, that the testosterone levels were too high, and Fleming is ineligible to play and will not be going on the trip that day."

The coach added that the alleged failed test was kept "a secret" from the rest of the team.

The allegation also appears in Batie-Smoose’s Oct. 13 federal lawsuit against the California State University (CSU) trustees and 11 SJSU employees.

Fleming then missed a long stretch of the 2023 season. SJSU’s athletics website claimed the player had not competed since Sept. 16 of that year "due to injuries," in a November 2023 game recap.

Batie-Smoose said, "The injury happened the day that Fleming went to go get tested, and it was very questionable."

Batie-Smoose believes the injury explanation helped keep the alleged eligibility issue secret. Her lawsuit also describes that conclusion as her belief.

EX-SJSU VOLLEYBALL PLAYER SPEAKS OUT ON ALLEGED SCHOLARSHIP DECEPTION BY COACH DURING TRANS SCANDAL

"Around the same time the testosterone results were revealed, Fleming thereafter missed conference matches because of a reported hand injury, which Plaintiff believes was an excuse to hide his ineligibility to play because of his hormone level," the lawsuit states.

SJSU's own game records confirm that Fleming missed matches, but they do not establish whether a testosterone test result played a role in the absence.

In 2023, NCAA rules allowed transgender women to play on women’s teams, but they had to meet requirements for hormone treatment and testosterone levels. The NCAA kept that policy, known as Phase Two, in place through the 2023–24 school year.

Under that framework, transgender women had to complete at least one year of testosterone suppression treatment before competing on a women’s team. They also had to provide blood-test results that met the NCAA’s limit for their sport. For women’s volleyball, the Phase Two limit was below 10 nanomoles per liter of total testosterone in the blood.

The requirements applied before an athlete’s first competition in each season segment, including nonconference games. Schools had to submit eligibility documents for an NCAA medical panel to review before the athlete competed. The requirement did not begin only when conference play started.

Schools also had to certify athletes’ eligibility before allowing them to compete. If an athlete became ineligible, NCAA rules required the school to immediately keep that athlete out of competition.

SJSU WAS TOLD OF DECADES-OLD ALLEGATIONS AGAINST VOLLEYBALL COACH DURING CONTROVERSIAL 2024 SEASON

Batie-Smoose’s account does not establish that Fleming played while ineligible. Fleming did return in November of that season, missing 17 matches.

SJSU has declined to respond to a request for clarification.

"Due to pending litigation, San Jose State is unable to respond to your inquiry," a university spokesperson told OutKick.

OutKick also reached out to Fleming, the NCAA, the Mountain West and the CSU for comment, but did not receive a response.

Batie-Smoose’s allegations extend beyond Fleming’s eligibility. She also says her relationship with head coach Todd Kress unraveled as their political views grew apart — and accuses him of using her support for Trump to turn players against her.

She described Kress as a longtime friend who once shared her conservative beliefs.

"Todd was a conservative Republican, and we shared the same views on a lot of things. And that’s why we were friends for so long," she said. "And then somewhere in the craziness, he went left and really extreme left."

Asked when she noticed that change, Batie-Smoose said it happened "before the first Trump election."

The two continued discussing politics, she said. But she alleges Kress began raising their differences in front of athletes, crossing a boundary she wanted to keep between their personal disagreements and their coaching jobs.

"Oh, yeah. We talked about politics all the time," she said. "You know, once he turned, it was more, um, he would bring it up in settings that I felt like it was very inappropriate."

"We can talk and debate on those subjects when we’re in a room together, but not in front of student athletes. I feel like that is not the time and the place to speak on that."

Batie-Smoose said the treatment intensified after they arrived at SJSU in 2023. She believes Kress brought up her political and religious views to mock her and weaken her relationships with the team.

"Especially once we arrived at San Jose State, and I’ve referred to this before, this man was unrecognizable," she said.

She alleged that Kress knew which players would object to her views and raised the subject in front of them to create division.

Asked whether Kress told those players that he had once held similar conservative beliefs, Batie-Smoose replied: "Oh, no way. No way. He would never state that."

She said she did not share his past political views with the athletes herself.

"I do not talk about those things in front of athletes ever," she said.

Her lawsuit alleges that Kress called her a "Trump lover." It also says she repeatedly expressed her religious belief that "God made man and woman," and that she believes his treatment reflected hostility toward her faith.

She further alleges that he cornered and berated her during an office confrontation in about August 2023, after a canceled recruiting visit. The complaint says he threatened that he could get her fired.

Batie-Smoose says she reported the encounter to administrators and human resources. She alleges they told her Kress was her boss and she needed to listen to him.

Her attorney, Vernadette Broyles, described what she sees as a broader effort to silence her client.

"There was a watchdog that was assigned to be at every practice and to travel with Melissa to watch what she said, to watch what she did," Broyles said.

The lawsuit identifies a university administrator in connection with that allegation. The complaint presents the claimed purpose as Batie-Smoose’s belief.

CSU has defended its handling of Batie-Smoose in its March lawsuit against the U.S. Department of Education.

The employment dispute grew as the volleyball controversy spread.

During the 2024 season, former SJSU co-captain Slusser publicly challenged Fleming’s participation, and several opponents refused to play against SJSU. Batie-Smoose filed a Title IX complaint Oct. 29 alleging unequal treatment and failures to address concerns inside the program.

SJSU placed Batie-Smoose on paid leave days later. Its suspension letter cited several grounds, including alleged disclosure of private student information, differential treatment of athletes and unprofessional conduct. Batie-Smoose disputes those grounds.

On Jan. 31, 2025, the university told her it would not renew her temporary appointment. Batie-Smoose then filed an employment lawsuit against SJSU last September.

Then, this year, on Sept. 4, Judge Noël Wise dismissed her second amended complaint in an earlier employment case. Wise found that her allegations did not adequately show that SJSU punished her because of her sex or for raising complaints protected by law. The judge emphasized the complaint’s account that SJSU acted after she shared student information with the media despite instructions to keep it confidential.

Wise allowed her to amend. The ruling addressed whether that complaint stated a valid legal claim. It did not decide the dispute after a trial.

The October filing accuses officials of violating her rights to speak, practice her faith and hold political beliefs. It also alleges unequal treatment under the law. Batie-Smoose seeks reinstatement or a comparable job, compensation and correction of adverse personnel records.

Federal investigators have separately challenged SJSU’s handling of the volleyball program.

In January, the Education Department’s Office for Civil Rights concluded that the school violated Title IX over athletic participation, facilities and its response to complaints. The agency also raised concerns about unequal treatment in employment, while acknowledging that incomplete records limited its conclusions.

CSU disputes the federal findings. The system sued the Education Department in March, arguing that SJSU followed the law and NCAA rules that governed the seasons under review.

Batie-Smoose says legal advice shaped how much she shared publicly as the dispute unfolded.

"When this all began, I did not have legal representation," she said.

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"I mean, we have a lawsuit here and we want to win, and we also want to make change."

She has since returned to coaching. Cisco College in Texas announced her hiring as head volleyball coach in April.

"This is what God intended me to do," she said.

She described the new job as a chance to lead young women again while her case moves forward.

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"God put me here. I have a purpose, and I’m so blessed that I get to lead these young women again, and I’m having a lot of fun at it."

Chief executive agrees to remain in California for eight years even if state brings in one-off 5% wealth tax

Meta has struck a deal with Mark Zuckerberg to help him foot a possible California wealth tax targeting billionaires.

The social media company behind Facebook, Instagram and WhatsApp revealed on Wednesday night that the arrangement would keep its chief executive living in California, where Meta’s headquarters are located.

House Democrats' No. 3 leader is under fire for his opposition to voter ID in his home state of California.

House Democratic Caucus Chairman Pete Aguilar, D-Calif., spoke at a press conference earlier this month criticizing a measure on Californians' ballot this Election Day that, if passed, would mandate that voters show government-issued photo ID at the polls.

He made the comments just weeks before the Department of Justice (DOJ) announced a crime bust that saw several U.S. permanent residents accused of registering to vote despite not being citizens.

MAP IT: DOJ ILLEGAL VOTING CRACKDOWN SWEEPS 17 STATES AS RAZOR-THIN ELECTIONS FACE SCRUTINY

Rep. Ken Calvert, R-Calif., hammered Aguilar's opposition to voter ID and argued the DOJ's recent actions made it "obvious" that the ballot measure, called Proposition 39, was needed.

"Give me a break," Calvert told Fox News Digital. "You have to show an ID to board an airplane, cash a paycheck, rent an apartment or even buy cold medicine at the grocery store. Democrats claiming that requiring photo ID before casting a ballot is somehow 'racist' or 'voter suppression' is complete nonsense and an insult to every voter's intelligence."

NEW YORK CITY’S LONE REPUBLICAN IN CONGRESS ACCUSES MAMDANI, SCHUMER OF 'HYPOCRISY' IN VOTER ID FIGHT

Rep. Vince Fong, R-Calif., said voter ID "is basic election security that the vast majority of Americans support, and 36 states already require."

"While opponents are resorting to lies and fearmongering, Proposition 39 is commonsense reform in a world where you need an ID to rent a car, stay at a hotel, open a bank account or board a flight," Fong told Fox News Digital. "The DOJ's recent voter fraud bust in California is exactly why these safeguards matter."

Rep. Young Kim, R-Calif., similarly said showing photo ID is a "simple standard we already require to board a plane, purchase alcohol or pick up a prescription."

"This isn't controversial and it shouldn't be complicated. Our elections deserve at least as much consideration as a beer or a bottle of wine," Kim told Fox News Digital.

Aguilar, meanwhile, criticized Proposition 39 during a press conference with Democratic gubernatorial candidate and former Biden administration Cabinet Secretary Xavier Becerra earlier this month.

"We will not stand for this, because we will not stand for people to lose an opportunity to exercise their ability to vote. In Arizona, they tried this. They wanted folks to put their driver's license numbers on their ballots. Think about that. What if you miss one digit? Your vote doesn't count?" Aguilar proposed. "What if you're married in California? What if you're married, and you haven't changed your name and you go to vote? No longer will you be able to vote. That is what is at stake for Californians."

SCHUMER SAID 'DEMOCRATS SUPPORT VOTER ID' – THEN EVERY SENATE DEMOCRAT VOTED AGAINST GOP BILL

He called it a "voter suppression effort" pushed by Republicans.

"Republicans can win only when they suppress the vote. Donald Trump and MAGA Republicans know that they are bankrupt of ideas and solutions, and so they have to change the rules of the game," Aguilar said.

NEWSOM SPARS WITH TRUMP-APPOINTED PROSECUTOR OVER 20,000 SUSPECTED NONCITIZENS ON VOTER ROLLS

Meanwhile, the California government criticized the DOJ's operation while pointing to reports that said more of those charged were registered as Republicans rather than Democrats.

"For nearly a decade, Trump has baselessly alleged mass voter fraud rings were employed by Democrats and utilized 'illegal immigrants' to sway elections across the country – often pointing to California," a release on Gov. Gavin Newsom's state website read. "Courts at all levels have rejected the claims of vast voter fraud or that elections were rigged against the President."

Voter ID laws currently exist in 36 states and polls have shown they have a majority of Americans' support.

But in Congress, several efforts to pass federal voter ID legislation have been thwarted by Democrats in recent years.

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Fox News Digital reached out to Aguilar's campaign for a response to his GOP House colleagues' comments.

EXCLUSIVE: Twenty-three years after Duane "Dog" Chapman chased fugitive Max Factor heir Andrew Luster to Mexico and tackled him on a Puerto Vallarta street, the convicted serial rapist is a free man — despite an initial sentence of 124 years.

"I hope he's smart enough — and he's smart — to never do anything like that again," Chapman told Fox News Digital Wednesday, more than two decades after the capture that helped make him a household name.

MAX FACTOR HEIR'S FORMER LAWYER DETAILS JUDGE'S ERROR THAT WIPED OUT 124-YEAR RAPE SENTENCE

Chapman, his son Leland and several others went to Mexico after receiving a tip about Luster's whereabouts — months after he fled the U.S. in the middle of a California rape trial. They first identified him from the tipsters' photo, which showed a knee and a watch.

'AMERICA'S MOST WANTED' EX-COP FUGITIVE RETURNED AFTER 20 YEARS ON THE RUN TO FACE MURDER, CHILD SEX CHARGES

Chapman had been studying his face closely for weeks, but he also recognized the watch from a televised interview, he said. And he credits his son with first spotting Luster, who was speaking with a young woman in a bar on June 18, 2003.

PARENTS OF SLAIN PREGNANT MOM CHRISTA GILLEY DEMAND LEE GILLEY'S RETURN FROM ITALY FOR MURDER CASE

"When I saw him, you talk about an adrenaline rush went through my body," Chapman told Fox News Digital Wednesday. "Tim got down . ..he snuck up behind him, and then I pushed him. He fell over. We all jumped on him, and I screamed, 'You're under arrest by the United States of America.'"

EXCLUSIVE: FBI EXTRADITIONS SOAR AS PATEL RAMPS UP FOREIGN OUTREACH, VOWS 'NO SANCTUARY'

They pulled him into an SUV and drove off — only to be intercepted on the road outside town by Mexican authorities who arrested everyone amid the chaos.

Luster claimed he'd been kidnapped, Chapman said, so he handed the lead investigator what Chapman called a "bible" of information on the case.

NEWSOM-BACKED LAW LETS ILLEGAL IMMIGRANT CHILD RAPIST SEEK EARLY RELEASE AGAIN AS DA URGES 'STOP THE MADNESS'

Luster, the great-grandson of makeup mogul Max Factor, vanished during a recess in his trial and was convicted in absentia on 86 counts involving the drugging and raping of three women between 1996 and 2000 at his home in Mussel Shoals, California.

One of the victims, who asked not to be named out of concerns for her safety, said she's still struggling to comprehend Luster's release even though she knew it was

 coming.

SENATOR TIM SHEEHY: SOFT-ON-CRIME JUDGES NEED CONSEQUENCES. THE JAIL ACT DELIVERS

"It’s very unsettling knowing that he is not behind bars, not in a closed facility," she told Fox News Digital Wednesday. "He is out in the public, in a community that just — it just doesn’t feel very good at all."

She said she has concerns for her own safety, her family, Luster's other victims and even investigators after a notebook containing a "payback list" was recovered from his Mexican hotel room — with their names on it.

CAPTURED 'AMERICA'S MOST WANTED' FUGITIVE RONALD FISCHER ABANDONS ALIAS AFTER 20 YEARS ON THE RUN

She said she dated Luster for five or six months without knowing she'd been drugged and raped the night they met — something detectives discovered years later, after they recovered videotapes from the home.

"It was me, comatose on his bed, wearing the clothes that I was wearing the first night I met him," she said. "That’s how I knew when it happened, because I had just bought that outfit, and I was wearing it the night that I met him. So that’s how I figured out when it happened to me, which was absolutely horrifying."

AMERICAN WHO FLED US AFTER ALLEGEDLY KILLING PREGNANT WIFE COULD RETURN WITHIN DAYS WITH MURDER CHARGE DROPPED

Police found more than 100 videos, she said. Not all of them involved criminal activity, but those that did were "mortifying," she said, as Luster spoke to the camera like he were playing with "a toy."

"They’re pretty brutal," she added. "The things that he did to us while we were completely unconscious were things that, I mean, had we been able to feel anything, it would have been awful. He narrated the video and talked to the camera throughout and thoroughly enjoyed the whole entire thing."

He initially received consecutive sentences totaling 124 years — later reduced to 50, and he was released earlier this month after over two decades behind bars.

Prosecutors had opposed early release in 2024 and again in 2025. However, he was able to earn substantial early release credits under California's controversial Proposition 57 criminal justice reforms, and his prison term came to an end on Oct. 11.

"I did not know that [Prop 57] meant that it was gonna make Andrew Luster’s crimes be deemed nonviolent," Doe No. 3 told Fox News Digital. "That’s just so baffling. I just feel like if anybody could watch these tapes of what he did to me and all of these other women, just to look at that and try to put the word nonviolent on it, that word could not come out of your mouth. It just would be impossible."

Doe was among those who successfully lobbied for changes to the law to close that nonviolent loophole.

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Chapman said he never received the bounty for Luster and lost hundreds of thousands of dollars of his own money for the operation and ensuing legal fallout.

Mexican law did not allow bounty hunters to apprehend fugitives. Chapman said he was arrested alongside his son Leland, longtime friend and associate Tim Chapman, who is not a blood relative, and members of a camera crew.

"He told me, 'I’m going to get him for you,' and he did," Doe said of Chapman. So to help him get out after he put Luster back behind bars, she kicked off a legal fundraiser that she said attracted donations from around the country.

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A judge in Mexico later dismissed the case.

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The incident happened shortly before Chapman rose to fame with A&E's reality series, "Dog the Bounty Hunter."

Chapman is returning to the screen with a new YouTube series launching Saturday — "Dog the Bounty Hunter ... Everyone Deserves a Second Chance."

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As part of the series, he plans to help bail out certain inmates with a history of good behavior and positive reports — but not for people facing serious felonies or sex abuse charges, he said.

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"We'll call out the ones that deserve a second chance, right, and you can't be perfect OK, so if they run, yeehaw," he said. "I don't wish they would, but if they do, then I'm going to catch them."

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He said he's got at least another five to seven years of bounty hunting left in him.

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Fox News' Greg Wehner and The Associated Press contributed to this report.