California Gov. Gavin Newsom is reportedly scrambling to kill a ballot measure that would impose a one-time 5% tax on roughly 200 billionaires — raising an estimated $100 billion for Medicaid and social programs.
ICYMI: We reported for @prospect.org last week on documents obtained by @phoenixprojnow.bsky.social detailing how Silicon Valley elites view "abundance" as an avenue to advancing their political power.
prospect.org/2026/06/12/n...
In new reporting for @prospect.org, our @dylangyauchl.bsky.social details internal documents from Bay Area abundance groups pitch the movement to tech elites as a way to take control of Democratic politics and describe a 9-figure funding stream from billionaires. (1/2)
prospect.org/2026/06/12/n...
The Prospect has obtained a fundraising pitch and historical manifesto from inside the movement.
prospect.org
the author boasts about having “Flipped San Francisco Democratic Party, Flipped San Francisco Board of Supervisors … [and] Flipped Santa Monica City Council.”
"We helped organize the Moderate faction that has taken power" (2/2)