PBD Podcast

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Newsom’s Billionaire Tax, Iran War Escalates & Israel Acknowledges Genocide | PBD Podcast #825

Explore episode Jun 29, 2026
News
Soros's $103M Midterm War Chest: Who's Getting the Money

Newsom’s Billionaire Tax, Iran War Escalates & Israel Ackno… · Jun 29, 2026 News

George Soros and his son Alex have poured $103 million into the 2026 midterms — on pace to shatter the previous record of $128M. The money is flowing into populist wildcards like Ro Khanna and John Ossoff, candidates positioned to exploit affordability anxiety and growing distrust of Israel. This is Soros treating the Democratic Party as a Manchurian candidate factory.

3m 17s

Where this was said

Gavin Newsom's National Billionaire Wealth Tax

At 19:43 · chapter starts 11:00

Patrick Bet-David plays the video of Newsom calling for a 'national billionaires tax and a new social contract,' then methodically dismantles the framing. The top 10% income threshold is not wealthy in any coastal city — $155,000 individually after state and federal tax in California leaves roughly $12,000 a month, which buys little comfort in Los Angeles. Tom traces Newsom's pivot to a very specific political moment: in January he was quietly signaling opposition to the tax, citing worries about billionaires leaving the state. Then three DSA candidates swept New York primaries right next to Mamdani, and Soros money began validating the DSA as the new arm of Democratic energy — just as MAGA was the arm of Republicans in 2016. Newsom needed both party momentum and donor dollars, and he moved within days of those primaries. Tom's chilling warning closes the segment: once government has a 'wealth tax knob,' it will be turned — and 'you're rich' is a definition that expands over time.

Business
Newsom's National Billionaire Tax Targets the Middle Class

Newsom’s Billionaire Tax, Iran War Escalates & Israel Ackno… · Jun 29, 2026 Business

Gavin Newsom's proposed national billionaire tax doesn't just target the ultra-wealthy — it kicks in at $155,000 for individuals and $255,000 for households, the top 10% income threshold. If you live in LA or Manhattan at those numbers, you're broke after taxes. Newsom caved to DSA pressure immediately after the New York primaries swept in three socialist candidates.

8 min
News
Why Newsom Flipped: The New York DSA Primary Effect

Newsom’s Billionaire Tax, Iran War Escalates & Israel Ackno… · Jun 29, 2026 News

In January, Newsom was quietly opposed to the billionaire tax. Then three DSA candidates swept New York primaries, and Soros money started flowing. Newsom needed both support and money from within the party — and right now the DSA is the arm of momentum, just as MAGA was for Republicans in 2016. He moved immediately after those primaries.

2m 10s

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